8 out of 10 married couples are owed tax back, are you one of them? 1 month ago

8 out of 10 married couples are owed tax back, are you one of them?

Brought to you by Irish Tax Rebates

This might come as a nice surprise.

If you're one of the lucky couples who got married before the Covid-19 crisis hit then you're probably still basking in that sweet, honeymoon glow and not even thinking about taxes! The good thing about this article is that it's not actually about tax, well it is, but bear with me I'm getting to it.

This is actually about cash and getting money back. The whole tax process can seem daunting but there is a simple way to figure it all out and you'll be kicking your newly married selves that you didn't know about it sooner.

Before we get to the juicy stuff, let's paint a little picture shall we? You've found the love of your life, things can't get any better am I right?.. NO, I'M WRONG THEY ABSOLUTELY CAN.

We've all read the fairytales and watched the Hollywood movies of days gone by. We see the happily married couple row off into the sunset (how do they all have access to row boats?), what we don't see is they're probably heading straight to the credit union to take out eight loans. They'll follow this with a very uncomfortable conversation with a bank manager about life insurance and then they'll be smart and check if they're owed any tax back because GOD knows we need it!

My point is this... life isn't a fairytale, things can be tough and with this in mind it's crucial to educate yourself and know exactly what you have the right to apply for.

So, what is this magical marriage tax rebate I'm waffling on about?

As a married couple you could be saving up to €4,620 on your tax bill every year. There are a few different options available here in Ireland, married couples can choose whether they are jointly, separately or singly assessed for tax purposes. Joint assessment allows couples to split their tax credits and rate band between both parties which is a massive benefit for everyone involved as it means you can reduce the amount of tax you have to pay at the higher rate.

Additionally, some tax credits are worth double when you are married; however, details regarding join assessment may vary from couple to couple, depending on their individual circumstances and their tax rates.

Basically, there are savings to be made and it's just about figuring out what works best for you and your partner. If you want to get started claiming your tax back as a married couple, apply for your refund with Irish Tax Rebates.

It's a bit of a no-brainer and will probably be the actual gift (nobody really needs a blender) you've always wanted.

Happy honeymoon!

Brought to you by Irish Tax Rebates

Irish Tax Rebates is trusted by over 250,000 Irish tax payers every year to secure their tax refunds. With an average rebate of €1,057 we carry out full and thorough reviews –checking back through up to 4 years of taxes. Simply fill out our 60-second form and we’ll get to work securing the highest possible rebate.