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Transferring Tax Credits

  • 26-09-2022 10:49pm
    #1
    NinjaTruncs
    Registered Users, Registered Users 2 Posts: 2,528 ✭✭✭


    When does it make sense to be jointly or separately assessed as a couple?

    If my wife doesn't pay the top rate of tax would it make sense to transfer her personal tax credits to me or would it make no difference as she would use them herself on the salary she earns up to the top tax rate?

    I have it in my mind that if she wasn't paying the top rate of tax then it is better for us if I got her credits, is that right?

    Thanks

    4.3kWp South facing PV System. South Dublin



Comments

  • #2
    ari101
    Registered Users, Registered Users 2 Posts: 2,835 ✭✭✭ari101


    If she is earning less than the standard rate cut off you should ask revenue to transfer her excess band to you (e.g. if she is on 30k annual, assuming normal bands, she could send 6.8k your direction for 2022, saving you 1,360pa).

    The credits however may be used up - someone on standard credits uses them up once they earn over 17k per year (3.4k*5). If she is on below this you can also ask revenue to move excess credits.



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