PAYE Assessment options???

D

dmcgoved

Guest
Hi all and Happy new year to everyone.

I own my own company (limited) and I am married. Can any body tell me what PAYE assessment option would be best for us? I want to split my salary in 2 and pay my wife half which will end up with both of us earning €27K P.A.
I am thinking that maybe we should be both assessed as single people ????? Basically I want to pick the option that will give us the best NET pay. If anybody can help it would be much appreciated. (One thing to note is that I am S class PRSI if this affects what option to go for)

Thanks in advance

D
 
It doesn't make any difference.

The full 54K will be taxed at 20% regardless of joint/single assessment.

As you are probably aware with a salary of 54K, it is best to split it between both of you as you are doing. With a joint sal of 54K the max any spouse should get is €38,400.

Hope this explains.

It's normally best to go with joint assessment, as it can be easier to manage.
 
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