Married Tax Assessment Joint Assessment v's Separate Assessment?

[FONT=&quot]My wife and I married in July 2008. My wife was in full time employment up until the 1st December and has been out of work since that date. She will return to full time work at the beginning of November 2009. I have two questions I hope you can help with;[/FONT]

1. [FONT=&quot]We wish to complete form 12 returns for 2008. Do revenue expected us to return two separate (year of marriage) form 12's or one joint form 12 - we have informed revenue that we married in 2008.[/FONT]
2. [FONT=&quot]With my wife out of work it has made sense to transfer any transferrable credits and standard rate bands to me and be jointly assessed. However, with my wife returning to full time work in November should we choose joint assessment or separate assessment? What is the different between the two? Is there an advantage in one over the other?[/FONT]

[FONT=&quot]Our incomes (PAYE) are, me: 100k, my wife: 53K (from Nov 09).

Any assistance would be greatly appreciated.[/FONT]

In the year of marriage you are assessed as two single people, with the option to have a review of your position, to see if a further refund due because of marriage. You should request this.

If you transfer credits etc you will have better cashflow, but your wife will pay more tax when she returns to work.

The tax payable under joint or separate assessment is the same - no advantage - just a personal choice.

Domo, thank you for your feedback.