iam about to be put on a 3 day week at the moment i claim all the tax credits for myself and my wife iam just wondering about moving all d tax credits over to my wife now so as to maximise our take home pay can we do this? i will be taking home 280euro on my 3 day week plus watever social welfare payment i will get and my wife earns 979 euro every fortnight can anyone help me work out the best way to maximise our takehome pay???
You need to give your gross pay per week and what the sw payment will be.
Is yor wifes pay take home or gross.
You also need to use some credits to cover social welfare.
(Assumimg it will all be at 20%.)
Get 20% of total gross of wifes
Get 20% of your total gross (pay + sw)
Your total credits = 140. Balance out between both of ye what covers.
If you send on the gross figures i could work it out
if you have most of the credits at the moment your under using them
For you to pay no tax you need 75.80 assign to you pay & sw.
Your wife will get the rest 64.2 and will end up paying 33.70 in tax
tax liabilty
Wife = 33.70
You = 0
total = 33.70
Or if you want to give her more you pay more she pay less, the key is just use the amount you need. If your the assessable person all along you more than likely have 105 ish assigned to you wasting 35.