I’ve just recently started a new job after a period unemployed. I also had a few weeks on a short term contract so both when I was unemployed and for the short term contract I left all my tax credits with my husband.
He earns around 45k a year. My new job is paying 25k and I’m trying to work out what our tax home pays will be once I start getting paid.I’ve tried the taxcalc website but not sure it’s giving me the right figures – when I put in my husbands 45 k and mark it as joint assessable with the 25k as second wage then it allows him 6,600 tax credits.I would have thought some of that should have gone towards my income (albeit a small proportion).
So I’m looking for help with the calcs. Would it be more preferential for him to keep the full 6,660 credits , or should we split these?If we opt for joint assessment with the Revenue does that automatically assign the tax credits in the most preferential way or do we need to instruct them as to the exact breakdown we want?
Getting very confused just trying to work out our take home pay. I've looked on the Revenue site but that hasn't really helped clear it up. Shouldn’t be rocket science but now that joint assessment has come into the frame I’m a bit lost!
He earns around 45k a year. My new job is paying 25k and I’m trying to work out what our tax home pays will be once I start getting paid.I’ve tried the taxcalc website but not sure it’s giving me the right figures – when I put in my husbands 45 k and mark it as joint assessable with the 25k as second wage then it allows him 6,600 tax credits.I would have thought some of that should have gone towards my income (albeit a small proportion).
So I’m looking for help with the calcs. Would it be more preferential for him to keep the full 6,660 credits , or should we split these?If we opt for joint assessment with the Revenue does that automatically assign the tax credits in the most preferential way or do we need to instruct them as to the exact breakdown we want?
Getting very confused just trying to work out our take home pay. I've looked on the Revenue site but that hasn't really helped clear it up. Shouldn’t be rocket science but now that joint assessment has come into the frame I’m a bit lost!