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Joint Assesment

  • 08-01-2018 2:15pm
    #1
    sillysocks
    Registered Users, Registered Users 2 Posts: 2,644 ✭✭✭


    This year I’ve returned to work part time and am jointly assessed with my husband for tax. He will now earn significantly more than me so I have asked Revenue to split the credits and tax bands. One question I forgot to ask was relating to the tax band. I know the minimum tax band I’ll be allocated is 25,500 at 20% and the rest goes to my husband. However my earnings will be less than that.

    At the end of the year when we do a p21 does that 25,500 min still apply or are our earnings fully combined and put against the full joint tax band allocation? I’m asking because if it’s the latter then I assume we’d get a refund at the end of each year because there will be more of his salary allowed at 20% but he would have paid at 40% during the year.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    sillysocks wrote: »
    This year I’ve returned to work part time and am jointly assessed with my husband for tax. He will now earn significantly more than me so I have asked Revenue to split the credits and tax bands. One question I forgot to ask was relating to the tax band. I know the minimum tax band I’ll be allocated is 25,500 at 20% and the rest goes to my husband. However my earnings will be less than that.

    At the end of the year when we do a p21 does that 25,500 min still apply or are our earnings fully combined and put against the full joint tax band allocation? I’m asking because if it’s the latter then I assume we’d get a refund at the end of each year because there will be more of his salary allowed at 20% but he would have paid at 40% during the year.

    There's a maximum amount applied. If you don't use the full 25,500, the unused portion will not be allocated to the joint income.

    If you see the small print, your rate band is "up to" 25,500. So in actuality, if you earn say, 18,000 - the rate band you will be granted at the end of year review will be 18,000


  • #3
    sillysocks
    Registered Users, Registered Users 2 Posts: 2,644 ✭✭✭sillysocks


    gerrybbadd wrote: »
    There's a maximum amount applied. If you don't use the full 25,500, the unused portion will not be allocated to the joint income.

    If you see the small print, your rate band is "up to" 25,500. So in actuality, if you earn say, 18,000 - the rate band you will be granted at the end of year review will be 18,000


    Thanks!


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