Assessable Spouse Election Form

Cactus Hill

I'm trying to figure out if it's worth while filling out the above mentioned form and after a call with revenue I'm more than a little confused... My current situation is below:

Married since 2015
2 kids
currently taxed as single people
Currently on unpaid leave post maternity leave and plan on returning to work in September.
Husband is the higher earner

My question, is it worth being jointly assessed? And is it worth moving my tax credits to my husband until September?

Any help would be appreciated as I'm unfortunately clueless!

kennethrhcp

will you earn over €34,550 in taxable income in 2018? if no then it's worth going jointly assessed for sure & moving some of your rate band over to your husband. in relation to your tax credits, if you'll earn over €16,500 in 2018 it wont make a difference to the income into the house as you'll use up the credits anyway. Again if earning under, you can transfer a portion to your husband. Even if you don't transfer these amounts now you can opt for jointly assessed & receive a refund in your P21 approx. in March.


Also you can back date the joint assessment (I'm pretty sure) so if you didn't use your full rate band since married a portion can be allocated now & ye may be in a refund situation.

In a lot of cases it's beneficial to go jointly assessed esp if one is paying the higher rate

Cactus Hill

Very helpful. Thank you!