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Married & transferring tax credits

  • 04-09-2013 8:02am
    #1
    expectant
    Registered Users, Registered Users 2 Posts: 24 ✭


    Myself and my husband are PAYE workers both earning in the high tax bracket.
    If I give up work in January 2014 does that mean that my husband can then get my tax credits?
    If he does is it only for the 2014 tax year or all years thereafter?

    Thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    expectant wrote: »
    Myself and my husband are PAYE workers both earning in the high tax bracket.
    If I give up work in January 2014 does that mean that my husband can then get my tax credits?
    If he does is it only for the 2014 tax year or all years thereafter?

    Thanks

    If you are joint assessed for taxation purposes then you can transfer your personal tax credit of 1650 and up to 9000 euro of your rate band to him. Your PAYE credit and remaining rate band are non transferable. You can do this anytime and it will carry forward until you inform Revenue to change it.


  • #3
    expectant
    Registered Users, Registered Users 2 Posts: 24 ✭expectant


    [QUOTE=Your PAYE credit and remaining rate band are non transferable. You can do this anytime and it will carry forward until you inform Revenue to change it.[/QUOTE]

    Thanks for your reply.
    When you say it will be carried forward do you mean subsequent tax years even if I am not working?


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    expectant wrote: »
    Thanks for your reply.
    When you say it will be carried forward do you mean subsequent tax years even if I am not working?

    Yes. The system is supposed to carry it forward into subsequent tax years in joint assessed cases. You can check how its working by looking at your tax credit cert via PAYE anytime at the start of every tax year.


  • #5
    expectant
    Registered Users, Registered Users 2 Posts: 24 ✭expectant


    In the case where you are not working at all e.g. you quit work during 2014.
    You are no longer a PAYE worked in 2015.
    Therefore husband only gets credits for 2014.
    Is that correct?


  • #6
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,005 ✭✭✭Citizenpain


    Husband will get PAYE Tax Credit and increased band in 2015 and onwards until you change the way you are assessed


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  • #7
    GOOSEPAUL
    Registered Users, Registered Users 2 Posts: 177 ✭✭GOOSEPAUL


    For 2014 your husbands tax credit and srcop would be:

    Tax Credit = €4,950 (1650 x 3)
    SRCOP = €41,800 (32,800 + 9,000)

    Also if you are out of work (to look after kids) for the whole of 2014 your husband might qualify for an additional tax credit of €810 (Home Carer Tax Credit)

    I hope this helps.


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