Maternity Leave, and taking tax credits

[BillyPiper]

Hi there

My partner is about to go on maternity leave, and will only get standard maternity benefit. I earn about 75000 a year. We are married since May 2011.

I assume we should join our tax credits together ?

What benefit will that actually have to us ? e.g. my monthly outcome ?

Is there anything else I should be claiming or considering here ?

Thanks
Billy

 

[vandriver]

If you are on PAYE anytime,you can transfer tax credits online..Are you jointly assessed for income tax?
You can also move tax bands over to your job.Don't forget in your calculations that maternity benefit becomes taxable from July 1st 2013.

 

[BillyPiper]

If you are on PAYE anytime,you can transfer tax credits online..Are you jointly assessed for income tax?
You can also move tax bands over to your job.Don't forget in your calculations that maternity benefit becomes taxable from July 1st 2013.

Hi VanDriver,

Is there a calculator or anywhere I can try and figure out which is the best tax option for us ?

e.g. taxed separate / jointly e.t.c ?

Once she is finished maternity leave, can you switch back ? Or are you on it for life then ?

Thanks a mill
Billy

 

[huskerdu]

Hi VanDriver,

Is there a calculator or anywhere I can try and figure out which is the best tax option for us ?

e.g. taxed separate / jointly e.t.c ?

Once she is finished maternity leave, can you switch back ? Or are you on it for life then ?

Thanks a mill
Billy

Once you are jointly assessed, You can switch tax creidts between you easily at any time. If you wanted to switch to be separately assessed, I am sure you can do that, but you may have to give notice nad I think only for a new tax year, but I am not sure on that one.

taxcalc.eu is a useful tax calculator.

 

[BillyPiper]

Hi Guys

So what should we actually be getting from the government ?

262 a week + what else

Sorry baby came early and just getting all this sorted now !!

thanks a mill
Billy