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Taxation for married couples

  • 04-10-2018 6:45am
    #1
    Cardinal Sin
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi,

    I am hoping someone can help me with this query on joint taxation.

    I work full time and earn about 55k per annum. My wife works term time (Sept - May) and earns about 26k.

    Is it better to be taxed individually or jointly? If jointly is most beneficial, can you recoup for years going back to the wedding?

    We have a toddler and are expecting twins so I really want to make sure we are maximising our tax credits!

    Thanks for any advice.

    Cardinal S.


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Cardinal Sin wrote: »
    Hi,

    I am hoping someone can help me with this query on joint taxation.

    I work full time and earn about 55k per annum. My wife works term time (Sept - May) and earns about 26k.

    Is it better to be taxed individually or jointly? If jointly is most beneficial, can you recoup for years going back to the wedding?

    We have a toddler and are expecting twins so I really want to make sure we are maximising our tax credits!

    Thanks for any advice.

    Cardinal S.

    You can't use any of your spouse's credits as she's using them all on that income. You can take a portion of her unused rate band to add to your own which will reduce the tax you pay.

    Opt for joint assessment. You can back date as far back as 2014.


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