Joint Assessment Options

rfaria

Hi,

I recently got married and when updating my civil status on revenue.ie I'm asked to select who is the assessable spouse and after that I'm also asked to specify how to split tax credits and rate bands.

There's an option "We request to divide the tax credits and rate bands equally between us", and can anyone help me understand what this means? I basically want to ensure that our transferrable tax credits are split up equally but that our tax rate bands are fully used. Would this option do that?

I earn 60k and my partner earns 23k, so would this option ("We request to divide the tax credits and rate bands equally between us") split the tax credits equally AND the tax rate band too (ie. 44300 + my partner's 23k, divided by 2, which would be 33.650)? or, would it split the tax credits but the tax band allocation would be fully used (ie 23k for my partner and the 44.300 for me?

Many thanks with this

ari101

Assuming standard credits, 1650*2 each, just keep your own as you both have enough income to use them all.

For bands though, you should take the max transferrable share of 44.3k, as your partner earns less than 26.3k.

rfaria

ari101 wrote: »

Assuming standard credits, 1650*2 each, just keep your own as you both have enough income to use them all.

For bands though, you should take the max transferrable share of 44.3k, as your partner earns less than 26.3k.

Thanks! And is there an option I can select that does that for me automatically? Or will I have to manually set the tax credit and rate bands split? Each of us have other tax credits associated to our jobs, for example a deduction from a benefit in kind from health insurance, so it won't be that straight forward