Tax when married - best option?

[trinity123]

Just looking at P60s for 2008 and even though we have approx the same base salary of around 48,000, I have a company car and bonus which brings my gross taxable earnings up to 62,000. Currently we are seperately assessed and my question is will it benefit us more if we go joint assessed?

 

[davidoco]

It todays climate one good reason to go joint is in the event of either losing their job or reducation in wages. Credits and bands can be quickly exchanged whereas on seperate assessment it may not be possible until the end of year.

 

[circle]

I'd leave it as is, that is separate, simply because it's easier to isolate any errors in your tax calculation when the two are separatly calculated. You can always change to joint assessment if that becomes relevant.

 

[allthedoyles]

AFAIK , when Revenue are processing your tax returns , they look at which of the 3 options are most favourable to you , and they give you the benefit .

The 3 options are :
1. Separate assessment
2. Joint Assessment
3. Single assessment

 

[peelaaa]

I'm sure you pay less tax if it as a joint assessment than 2 singles.