Married couple simgle earner and possible part time work

C

confused.ie

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My husband is in full time employment and has all our tax credits.

I left work on the birth of our third child and am at home full time. Due to pay cuts etc, I am contemplating taking a part time job that would pay @ €382 a month before tax.

What are the tax implications or choices open to me and my husband to maximise take home pay.


Many thanks.

Confused.ie
 
Your PAYE tax credit (not transferrable to your spouse) will cover the PAYE on the €382 per month so you will come out with the full €382 per month

Your husband's take-home pay may decrease depending on his income because you may not be entitled to the increased married-rate tax band AND the home-carers credit

The cost of childcare is another matter altogether!
 
thanks for the advice,

i hope to only work when he is off so no child care costs.

what will happen to the home carers credit? do i loose that and if so would it be worth my while for that amount?

many thanks
 
The Home Carers credit is worth €900 per year and you will lose it if your husband earns over €45,400

You're still better off financially taking the p/t job but just to bear that in mind.
 
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