self assesmemt and wife working

bailey80 · 16-10-2013 1:02pm #1

hi all i hope someone here can help.
im just trying to get my self assesment filed. my accountant is away till sunday so im trying to get a few bits done till he gets back. im leaving it late
right here is my situation.
i was self employed for 10 years from 00-10. then i had to sign on and deregister self employed. i did no work in 2010 or 11. i got married last year and have a 2 year old so i have been the house husband for 2 years.. she works full time making 380 a week. last year i did a small bit of work . i made 4800 so im doing returns on this amount of income. im also getting a social welfare payment. we want to be assesed seperatly.i just want a bit of knowledge in me before accountant comes back plus it it might save on my accountants bill.
1. how do i find out what my tax free allowance is?
2. will i have to pay tax on my 4800 euro earned from work?

Bold Abdu · 16-10-2013 2:40pm

Answering those 2 questions won't save on your accountants bill. However to answer your questions:

1. Your tax credits are €1,650 per annum plus up to another €1,650 PAYE credit if the SW you are receiving is taxable
2. Probably not, but depends on SW income.

If you married in 2012 you have no choice but to have 2012 assessed separately. However, you might have some unused credits that can be transferred to your wife. Just remind your accountant that you are married.

bailey80 · 16-10-2013 3:12pm

Thanks bold abdu
My accountant knows I'm married he was actually at the wedding.
I was not really trying to save on the bill mostly saving time trying to explain my situation.
I'm on means tested social welfare doubt if they would tax themselves. 2013 has been good for me I'm hoping to get off the dole soon

and back working full/most of the time.
So for the 4800 made in 2012, 3150 of that is taxable? Then minus work expenses plus prsi

Bold Abdu · 16-10-2013 3:26pm

bailey80 wrote: »

So for the 4800 made in 2012, 3150 of that is taxable? Then minus work expenses plus prsi

No. €4,800 @ 20% = €960 - 1,650 = 0 Tax.

But the €690 tax credit can be transferred to your wife if she needs it. She can use pro rate depending on how many months in 2012 you were married for i.e. 6 months = credit of €345.

bailey80 · 16-10-2013 4:18pm

Thanks again.
As you can see I have no idea about tax in the good times my books/scraps of paper were thrown to previous accountant to deal with.
This time accountant is a friend of wife.
Its probably a waste of time doing accounts if no tax has to be paid but that's the way it goes.
Thanks again bold abdu you have been very helpfull

self assesmemt and wife working

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