Joint tax during maternity leave

Prodigalson

Any advice on the following would be appreciated as just getting around to informing the tax revenue of our marriage a few years after the fact.

Is there any advantage with joint tax assessment in the following scenario

Both of us are earning over the standard rate cut off and my wife is going off on maternity leave unpaid early next year for 4 months.

She will still earn above the standard rate over the course of the tax year.

Thanks in advance

gerrybbadd

Prodigalson wrote: »

Any advice on the following would be appreciated as just getting around to informing the tax revenue of our marriage a few years after the fact.

Is there any advantage with joint tax assessment in the following scenario

Both of us are earning over the standard rate cut off and my wife is going off on maternity leave unpaid early next year for 4 months.

She will still earn above the standard rate over the course of the tax year.

Thanks in advance

Hi,

There is no real advantage if your both going to use up your allowances SRCOP etc. You will both have the same amount of credits under this basis of assessment. The only possible advantage would be if need be, you can reallocate credits between you.

Prodigalson

Thanks for the reply,got out the calculator after posting last night and came to the same conclusion ourselves....as you say down the line at some point the reallocate of credits could be useful but not in this case.
Thanks again