Joint Assesment Question

annoyednow

My Wife is about to go on state maternity and will be made redundant soon afterwards.

I was just wondering if it would be beneficial for us to be jointly assesed with me taking her tax credits and access to the higher income at the standard rate of tax.

Thanks in advance

Ricosruffneck

Yes, the transfer of credits and additional tax band would work in your favor if you're paying tax at the higher rate. Either way transfer of credits will help you out.

Ring 1890 33 34 25 after your wife receives her last paycheck before moving onto maternity benefit.

annoyednow

Thanks for the quick reply Ricosruffneck.

I will get the credits transfered over.

Just one question, why would I need to ring the revenue before my wife moves onto maternity ?, is there something else we need to do ?.

It will be in the next few weeks (Maternity leave), so I was thinking I might get the tax credits transfer started now - is that too early.

dearg lady

joint assessment, if you opt for it, is for the full year AFAIK, I don't see how you would lose out with it, so just switch I'd say.

Ricosruffneck

almost forgot you need to make the nomination before either apr 1st or apr 31st, can't remember which date.

Ricosruffneck

The reason i mentioned to do it quickly is just so we can send a revised cert to your employer and so that they have it in time before your pay day,

Just so you don't have a dip in your income since your wife would not be on her full wage anymore.

annoyednow

Thanks I will get moving on it tomorrow.