Any disadvantages to leaving tax credits with husband?

[Don_08]

I transferred tax credits to husband under joint assessment for 2010 as was taking unpaid leave so wanted to maximise monthly cash-flow.

Any disadvantages to leaving the credits with him for 2011? Both earn approximate 80k each but I would earn slightly more than him.

 

[allthedoyles]

Whether you both earn 50k or 80k makes no difference.

While you were on unpaid leave , your husband probably enjoyed an few extra euros monthly .

However , if you are returning to work in 2011 , you are best revert to your previous allocation of tax credits .

To answer your question , -
If you leave credits with him for 2011 , of course you will be dis-advantaged if you are in full-time employment in 2011.

In the meantime , ensure that you apply for P21 in January 2011 , when ye receive P60's

 

[Don_08]

But no difference to total household income annually? We both get paid into same account, there is no his and hers.

 

[mandelbrot]

If ye are both being paid into the same account, and ye both earn enough to use up all of the tax credits / standard rate band (which would be the case if ye earn 80k each ), then the allocation of the tax credits won't make any difference to the aggregate net income.