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Tax credits transfer to hubby or not?

  • 05-01-2015 12:45pm
    #1
    scaredycat
    Registered Users, Registered Users 2 Posts: 82 ✭✭


    Hi all,

    I am just at the end of my paid maternity leave (due to end 14th Jan) and I am hoping to take the 16 weeks unpaid leave. My hubby suggested I transfer my tax credits for the 16 weeks over to him so we will have a higher income. I have read up a few things on the internet but I think I am even more confused now that I ever was. Like do I ring and claim back my tax for 2014 now or do I just transfer my credits to my hubby from jan to April? Does anyone know what the best option is? I would hate to get a refund and end up owing tax at the end of 2015? (it'd be just my luck!!)


Comments

  • #2
    Neyite
    Society & Culture Moderators Posts: 25,948 Mod ✭✭✭✭Neyite


    Mod:

    Moving to Taxation.


  • #3
    xalot
    Registered Users, Registered Users 2 Posts: 1,096 ✭✭✭xalot


    Am no expert but returned back to work after unpaid leave in April last year and kept my own tax credits as it meant that when I returned to work I didn't pay any tax at all for a couple of pay cycles.

    You'll need to look at what you earn and what your husband earns to figure out what works best for you but if you're credits are combined anyways then if you're due a refund then you'll get it at the end of the year (not much good to you now). As for 2014, ask for a balancing statement to be sent out, if you were paid fully during your maternity leave then you're probably not entitled to anything but it never hurts to ask. You can transfer your credits over and back very easily by phone, I did mine by email

    Am sure there are more qualified than me to give advice on this one but it worked out well for me last year.


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