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PAYE tax assessment - Civil Partnerships

  • 14-01-2016 2:29pm
    #1
    Woodville56
    Closed Accounts Posts: 1,643 ✭✭✭


    A relative has recently entered into a civil partnership and is wondering about the tax implications.
    Both have earnings taxable under PAYE and pay tax at the lower rate (20%)
    The question is, given that they both pay tax at the same rate and their incomes are broadly similar, which option is best for them going forward in terms of their tax assessment by Revenue ie
    Joint assessment
    Separate assessment
    Separate assessment as a single
    Given that neither pay tax at the higher rate, I've been telling them that I don't think there's any real difference or advantage attached to either assessment method ? Is this correct ? Any views or opinions welcome !


Comments

  • #2
    SRASE
    Registered Users, Registered Users 2 Posts: 86 ✭✭SRASE


    If both partners have income of over €16,500 and both pay at 20% there is no difference in the tax treatment under the difference options.

    If one partner was on €10,000 and the other partner on €20,000 the joint assessment option would give a tax saving of €700. This is based on both partners being entitled to the PAYE tax credit for their employment income.


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