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recently married- query on tax credits
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16-09-2015 04:02PM#1Hi, excuse my ignorance as this is all new to me! I am recently married and I am just reading up on changing tax credits from single to married. There seems to be a lot of options available; single assessments/joint assessments etc. My husband is on €38K and i'm on €30K, could anybody kindly recommend what is the best option for us? Would I be right in saying that nothing will change for the remainder of this year and we need to request a refund after 31st August? Any advise is much appreciated. Thanks!
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Comments
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Hi, excuse my ignorance as this is all new to me! I am recently married and I am just reading up on changing tax credits from single to married. There seems to be a lot of options available; single assessments/joint assessments etc. My husband is on €38K and i'm on €30K, could anybody kindly recommend what is the best option for us? Would I be right in saying that nothing will change for the remainder of this year and we need to request a refund after 31st August? Any advise is much appreciated. Thanks!
Joint assessment for 2016 onwards. You can transfer 3800 euro of your standard rate cut off point to your spouse. That will leave you with 30k of rate band to cover your 30k of income.
The tax year runs January to December so I'm not sure where the August 31st date is coming from. Submit the IT2 form early next year when you both have your P60s for 2015. A year of Marriage Review will then be carried out.0 -
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