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Can She Give Me Her Tax Credits

  • 29-05-2011 10:04am
    #1
    Registered Users, Registered Users 2 Posts: 10,673 ✭✭✭✭


    My missus is a teacher and is currently on maternity leave until the new school term (September). I will be working throughout the summer and someone told me that she can transfer her tax credits to me until she returns to work.

    Can this be done? And is it a big deal?....like would it be worth it for just those few months?


Comments

  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    Now don't test me on this but my husband has opted for a tax treatment method where at the end of the financial year any unused credit on my account is transferred to him, this can be done, he is the kinda guy who is good at these things...can I suggest www.revenue.ie

    Good luck ;-)


  • Registered Users, Registered Users 2 Posts: 10,673 ✭✭✭✭senordingdong


    Yeah thanks, I tried Revenue.ie but tbh I have never found their website to be the least bit straightforward.


  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    He's out funding the meeja, I will get the link for you soon:D


  • Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    Is her maternity pay (I presume she's in the civil service scheme and not receiving maternity benefit) taxable?

    Generally married couples are better off under joint assessment, but look at both options.

    Assuming she goes back to work and earns more than her credits will off-set, there may be no real benefit, other than cash flow.


  • Registered Users, Registered Users 2 Posts: 817 ✭✭✭shar01


    A spouse can allocate credits / cut-off but depending on who you get on the phone in the tax office, it could end up being a bit of a mess...

    You could get her credits but if she's not put onto week 1, she could end-up owing tax.

    Talk nicely to your payroll section - they may work out what she needs to transfer to you.

    You could always wait until year end and send you and your wife's P60s in.

    BTW I'm not a tax expert - only worked in payroll.


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  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    Revenue website appears to be down:rolleyes: Will try later.


  • Registered Users, Registered Users 2 Posts: 119 ✭✭guano_jim


    revenue.ie still down.... i guess its being translated to FrancoGerman


  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    :D Separate Assessment

    This Basis of Assessment is available to couples who opt or who were deemed to have opted for aggregation. Each spouses tax affairs are independent of the other spouse.
    The following tax credits are divided equally between the spouses.
    • Married
    • Age
    • Blind
    • Incapacitated Child
    The balance of the tax credits/ reliefs are given in proportion to the cost borne by each spouse. PAYE Tax Credit and Expenses if due, are given to appropriate spouse.
    Any unused credits or standard rate band (excluding the increase to the standard rate band) may be transferred to the other spouse - but only at the end of the tax year by review.
    Back to Top
    To claim

    Either spouse may claim - Verbal Claim acceptable.
    Time Limit:
    Claim must be made within 6 months before 1 April in that year.
    Withdrawal:
    Must be made by spouse who applied. A claim for Separate Treatment by the other spouse effectively withdraws Separate Assessment.
    Back to Top
    Where to send claim

    Use your PPS number to find the postal address for your Revenue office in our Contact Locator


  • Registered Users, Registered Users 2 Posts: 10,673 ✭✭✭✭senordingdong


    Victor wrote: »
    Is her maternity pay (I presume she's in the civil service scheme and not receiving maternity benefit) taxable?

    Generally married couples are better off under joint assessment, but look at both options.

    Assuming she goes back to work and earns more than her credits will off-set, there may be no real benefit, other than cash flow.
    Well I finally got to the bottom of it and since we are not married it's not really worthwhile.
    There is a huge rigmorol to go through and it takes forever. At the end of it I would only have a little extra cash flow but she may be back in work herself by then anyway, and because of the small window between us reaping the benefit and her going back to work, we risk causing grief for her as she goes back to work with no credits and it then takes forever to get them back to her.

    Long story short, we shant be bothering.


  • Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Well I finally got to the bottom of it and since we are not married it's not really worthwhile.
    There is a huge rigmorol to go through and it takes forever. At the end of it I would only have a little extra cash flow but she may be back in work herself by then anyway, and because of the small window between us reaping the benefit and her going back to work, we risk causing grief for her as she goes back to work with no credits and it then takes forever to get them back to her.

    Long story short, we shant be bothering.

    If you're not married, none of that stuff applies, it was never an option. Only married couples can transfer tax credits / cutoff.


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  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    If you're not married, none of that stuff applies, it was never an option. Only married couples can transfer tax credits / cutoff.

    Does civil Partnership address this anomaly??


  • Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Pandora2 wrote: »
    Does civil Partnership address this anomaly??

    Not yet, but legislation is in train which will allow civil partners to have the same entitlements as a married couple. But that will only apply to same sex couples.

    AFAIK there won't be a change in the tax treatment of cohabiting couples who are unmarried/ not civil partners.


  • Closed Accounts Posts: 937 ✭✭✭Pandora2


    I thought they had built in an element of protection for siblings who resided together or, indeed anyone who wished to enter into the Civil Partnership? It was certainly one of the elements discussed regularly when the legislation was doing the rounds:confused:

    Just did not notice that element getting shelved although it does not surprise me! Pity though. Always thought it was awful that Social Protection can maintain you are in a relationship that Revenue won't recognise :confused:


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