How much can a spouse earn before paying 40% tax?

cian8

Frequent Poster
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104
Is the rental income in your sole name, or joint names?
RedOnion - is there an easy way to check? I only fill out one form every year to indicate the rental income? But that does ask me to input my wife’s pay from previous year etc. It is under some threshold and Revenue collect what is due by reducing my tax credits the following year.
 

relax carry on

Registered User
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44
RedOnion - is there an easy way to check? I only fill out one form every year to indicate the rental income? But that does ask me to input my wife’s pay from previous year etc. It is under some threshold and Revenue collect what is due by reducing my tax credits the following year.
It's quite easy, is the rental property owned jointly by you? If it is, the rental income is split between you and each portion is declared in your tax return each year. So if it's a 50/50 split, 50% is declared under you and the other 50% is declared under your spouse.
 

RedOnion

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4,303
It is under some threshold
If it's under the level that you have to do a Form 11, it won't materially impact your calculations. She might have scope to increase pension slightly above what you have at get higher rate relief.
 

cian8

Frequent Poster
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104
4360


See above! This is from 2017 but is the most recent I can find. The property is jointly owned. I can't remember every making a decision or being asked whether to split the income or not, but, maybe I did. Anyway it seems to only be in 'my' column.

Is this important? Should I ask to have it split between us?


If it's under the level that you have to do a Form 11, it won't materially impact your calculations. She might have scope to increase pension slightly above what you have at get higher rate relief.
Yes, correct I complete a Form 12 every year.

So are the calculations in my original post accurate?
 
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