Tax credit assignment

jamesd2013

Hi all
My wife and i are due another baby and want to see if its worth our while her giving up her job or not as its our second and fees are so high.
I make 55k and she only makes 18k . The tax credits are such that she pays approx 200e a month in tax and i have the rest of the credits. I was wondering how much would we lose every month if she was to leave her job and i take all the tax credits ie.how much would i see an increase in my pay if i have all the credits?

Thanks

gerrybbadd

jamesd2013 wrote: »

Hi all
My wife and i are due another baby and want to see if its worth our while her giving up her job or not as its our second and fees are so high.
I make 55k and she only makes 18k . The tax credits are such that she pays approx 200e a month in tax and i have the rest of the credits. I was wondering how much would we lose every month if she was to leave her job and i take all the tax credits ie.how much would i see an increase in my pay if i have all the credits?

Thanks

Do you already have her Personal Tax Credit, and increased Standard Rate Band?

Carawaystick

Don't forget next year ye would get the stay at home alowance also, ~ 800 per annum