IT2 form - Marriage Tax - Question

dtm

Hi Guys,
I wish to fill out the assessable spouse election form and I don't know which of the three options we should tick. They are:

(a) If you are already being taxed as a married couple and wish to have your tax credits and standard rate band allocated as at present, please tick this box

(b) If you wish to have your tax credits and standard rate band divided equally between you, please tick this box

(c) If you wish to have transferable tax credits and standard rate band allocated to the assessable spouse, please tick this box;



we both work public sector and we are on the higher tax band on the same wages - my question is which would be more beneficial to us - I have not a clue about these things!

Many thanks in advance for the replies.....

nompere

In your circumstances all that moving credits and bands around does is to give one of you a little more while the other gets a little less each month. Your joint net income will be unchanged.

In tax terms it doesn't really matter what you do - but for the sake of domestic harmony, there's much to be said for option (b).

dtm

ok thanks very much for the help.
I will do this so!

thanks again
dtm