PAYE tax credit for spouse

irishguy

Hi if I am a proprietary director of a company can my spouse use my unclaimed credit. She doesn't work for my company.

srsly78

There is no credit to transfer, since you don't get one.

relax carry on

srsly78 wrote: »

There is no credit to transfer, since you don't get one.

And also the PAYE credit is non transferable anyway. Its the personal tax credit which is transferable.

irishguy

Thats crap really, its very unfair on the self employed. Ill just have to come up with some other way to use it up

barneystinson

irishguy wrote: »

Thats crap really, its very unfair on the self employed. Ill just have to come up with some other way to use it up

To use what up?!

Alan Shore

We'll the OP might become an employee to advise another company and get paid a salary and then engage a director of the other company to advise the OP??

barneystinson

Alan Shore wrote: »

We'll the OP might become an employee to advise another company and get paid a salary and then engage a director of the other company to advise the OP??

Ahhh, so tax evasion!

Alan Shore

Just sayin'

could he be paid as a non executive director?

Mr. Incognito

irishguy wrote: »

Thats crap really, its very unfair on the self employed. Ill just have to come up with some other way to use it up

Self employed can claim expenses.

Employees cant.

I know which is more generous.

Mr. Incognito

Alan Shore wrote: »

We'll the OP might become an employee to advise another company and get paid a salary and then engage a director of the other company to advise the OP??

So expose yourself to tax and penalties and employee and employer prsi, usc and filings, insurance, for the sake of less than a 2k credit

Riiiiiiiiiiiightttt

rahmalec

Mr. Incognito wrote: »

Self employed can claim expenses.

Employees cant.

I know which is more generous.

I think it's a little unfair for those on low incomes. For someone say, self employed in the arts earning 16k, that extra 2k would mean a lot! Not to mention not able to get the dole when ok of work, etc.

mozattack

rahmalec wrote: »

I think it's a little unfair for those on low incomes. For someone say, self employed in the arts earning 16k, that extra 2k would mean a lot! Not to mention not able to get the dole when ok of work, etc.

I agree with this concept about the lack of PAYE credit and I actually mentioned it is a weakness in the tax system but you cant legislate for everything. Self-employed (generally) can have slightly better options for pensions and have more scope for allowable deductions.

In terms of social welfare, there are certain schemes open whereby you can be self-employed and still claim. In fairness, this is one area which has been improved a lot.