Any disadvantages to leaving tax credits with husband?

Don_08

Registered User
Messages
329
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.
 
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
 
But no difference to total household income annually? We both get paid into same account, there is no his and hers.
 
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.