Married couple tax query

T

trinity123

Guest
Myself and hubby are married since June 2007 but am only just looking into our tax situation now. We both work full time, I earn approx 48,500 p.a. In addition I get about a 10% bonus per year and have a company car worth 30,000 in which I pay BIK thus my P60 states I earn alot more than 48k p.a!
Husband earns about 47,000 per year, no additional bonus etc. We are currently taxed seperately as I do not think that we could benefit from being jointly assessed as we are both on the high rate of tax? Any advice would be greatly appreciated. Thanks in advance
 
Very similar situation to myself and my wife, we are both in the higher tax net, and both in full-time employment. You have a choice between Single, Joint and Separate assessment.

By the looks of it, you want to remain as is, i.e. single assessment. However, even if you tell the Rev that you are married (which you are obliged to), they will still leave you in limbo as regards assessment unless you call them up and pick one of the three assessments above. Even though we were leaving it as Single assessment, we still had to tell them that.
I'm not sure why, but was told very clearly by the Rev that this was the case. Once I did that, we got tax certs in the post for the previous four years we were married, so clearly this was preventing them issuing the certs.
 
Hi, married since august08 and looking into our tax situation! Im on about 35k a year and my wife is in the high tax bracket 40%...

Ive heard that joint assessment would benefit us? I read through the different options on revenue.ie but still confused...

seperate or joint....which 1?
 
Your unused tax band can be transferred to your spouse reducing her tax. There should be no difference in the net tax payable by both of you under joint or seperate assessment at the end of the year.
 
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