Benefits of joint taxation after wedding?

L

lob2

Guest
Just wondering what the benefits of my husband and I having joint taxation now that we are married? Do we have to inform revenue that we are now married? I earn approx 42 k gross. He earns about 37k. I really haven't a clue about this stuff! Thanks in advance.
 
Also note that in the year of marriage you will still be taxed as separate individuals, with the option of reviewing the position to ascertain whether there may be a refund if you would have been better off taxed as a married couple under joint assessment.

There is a formula for working this out.

With regard to future years, you will be taxed under joint assessment unless either of you claim to be taxed otherwise.

Yes, you needd to advise the Revenue that you got married.
 
Domo said:
Also note that in the year of marriage you will still be taxed as separate individuals, with the option of reviewing the position to ascertain whether there may be a refund if you would have been better off taxed as a married couple under joint assessment.
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How is this option exercised? Any relevant links other than just revenue.ie?

My situation:

Myself and my wife, both self employed, married in August 2008.

I just filed my tax return for 2008, and my accountant said "the system" wouldnt accept us as married for 2008 purposes because we were married during the year(?).

By my calculations we would definitely be better off being jointly assessed (my wife took nearly zero salary in 2008) so I would certainly like to exercise this option.

Cheers.
 
On the tax return the information that you had married and the date etc should have been completed. If there is any relief due, Revenue should build that into the assessment.
Your accountant should be able to calculate what refund, if any, is due.
 
lob2 said:
Just wondering what the benefits of my husband and I having joint taxation now that we are married? Do we have to inform revenue that we are now married? I earn approx 42 k gross. He earns about 37k. I really haven't a clue about this stuff! Thanks in advance.
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on those earnings each, there is probably no net difference between been assessed as single people or as a married couple.
 
Gervan said:
On the tax return the information that you had married and the date etc should have been completed.
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The explanation I got was that the form was being filed online, and the system refused to take a date in 2008 as a valid marriage date for joint assessment in the same year.
 
Some "change of circumstances" ( like marriage and dying) require the return to be in paper form, not electronic
 
soma said:
How is this option exercised? Any relevant links other than just revenue.ie?

My situation:

Myself and my wife, both self employed, married in August 2008.

I just filed my tax return for 2008, and my accountant said "the system" wouldnt accept us as married for 2008 purposes because we were married during the year(?).

By my calculations we would definitely be better off being jointly assessed (my wife took nearly zero salary in 2008) so I would certainly like to exercise this option.

Cheers.
Click to expand...

Just so you are aware any benefit you may get from being jointly assessed will only be from August 08 and not the full year.
 
Take a look at an IT2 on the revenue website the form you require to claim married persons tax credits is on the centre page...Great little information booklet
 
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