tax on JS

betonit

Hello,
Im going to be made redundnat in december. Myself and my wife were always separately assessed. In jan we will be assessed as a married couple.
She will get the extra standard rate cut off to 45Kish, plus married couple allowance.
Because she then has all my availble transferebale credits and allowances do i then get taxed on job seekers. If so do i jusy get JS less tax every week.
If the JS is taxed, Can I also add the 10K (approx) JS payment to the standard rate cutt off?
Tx.

misspiggy40

Hi Betonit. AFAIK when you go back to work your credits will be adjusted to reflect the amount of Jobseekers you have gotten up to that date. So you will get the full amount and it will be sorted once you are back to work.

Will post again if I can find the link I was looking at the other day.

misspiggy40

Have a look at this link

http://www.revenue.ie/en/tax/it/leaflets/it24.html

betonit

thanks for the info. I was just wondering If I dont get a job and I transfered my credit/allowances to my wfe at the start of the year will my Js be taxed weekly, if not could I end up owing money at the end of the year if I get the full JS per week? I must give them a ring. Thanks again

betonit

I rang them and the clarified. I get enough credits to cover the JS and my wife gets the transfereable balance. Thanks MissPiggy