Joint assessment first year

[delta_bravo]

Hi

I'm doing the tax return for my wife and I. Its a full form 11 return as I have shares and ETFs to deal with. Both of us are higher rate taxpayers.

Our general finances are separate except for mortgage and household bills we all do through a joint account. What I'm trying to ascertain is if we can figure out if there is a refund due or underpayment, which person it's coming from. I'm not looking for minute amounts but a general idea.

 

[jpd]

When you enter all the details in the Form 11 and press calculate, it will show what tax is due or overpaid.
But you have to enter ALL the relevant details and credit claims

What year are you talking about?

2021 should have been filed by Nov 15th, 2022 is due mid-November 2023

 

[delta_bravo]

When you enter all the details in the Form 11 and press calculate, it will show what tax is due or overpaid.
But you have to enter ALL the relevant details and credit claims

What year are you talking about?

2021 should have been filed by Nov 15th, 2022 is due mid-November 2023

I mean for 2022, I like to get it done early.

I'm just wondering say if there's a refund due, does it go fully to me as the nominated person or is it based on our own incomes / activities.

Like say my wife did a big avc, is that tax relief all going to back to her as we would hope?

 

[jpd]

It's your decision into how you allocate your tax credits between you

If you are due a refund, I think it will be credited to the bank account you nominate

 

[bstop]

Your tax refunds are allocated in proportion to the amount of tax paid by each partner. If you paid 66% of the tax you will get 66% of any tax refund. This will happen even if all the tax refund should be due to your partner, because for example she made large pension contributions.
If you download "ROS offline" and after you have made your online tax return you could then do a separate ROS offline return calculation for each of you and this will enable you to accurately access what tax refund is due to each.