PAYE Question - Help Please

M

MammaMia

Registered User
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Hi All,

My husband & I have 2 children 4 & 2. He earns €50k and I'm on jobseekers benefit, due to run out shortly. I've been offered a job on €30k but it will cost me €1200 per month for a creche..

Would I be better off to stay at home and give my husband my tax credits, how much extra would that mean to him - we both have normal tax credits but I can't find the notice for them at the minute...

will I only have a few euro to show for working a 40 hour week, would I be as well off at home....can't decide

Any advise would be greatfully appreciated, thanks:confused:
 
Take a look at taxcalc.eu - this should help you to get an idea on your income.
The 50K gross of your husband (taking into account kids and your tax credits) will result in a take home pay of just under 40K a year (or 3300 a month)
If you add the 30K gross, the net pay increases to 60K a year (or just over 5000 a month), therefore a difference of 1700.
Taking into account the childcare costs of 1200, you have 500 euro more in the pocket. Maybe that is just a "few euro" for a 40 hour week - but you will also have PRSI contributions.
Also, I would also try to recommend working for a variety of reason apart from money.

Giving your tax credits to your husbands makes only 150 net difference per month, as he is not paying much tax anyway (not much being relative of course)
 
Think too that your 4 yr old will be in school soon, so you will have less childcare costs.
There may be a possibility of you being promoted, thus moving onto a higher pay scale or you may get pay rise. Also as mention you'll be making PRSI contributions.
The experience in this job may lead to an even better job down the road.
 
Thanks for the replies.....its not that I think €500 extra is worthwhile.....its whether its worth giving my kids to the creche for....had always worked and was made redundant last year from a good position, and I think I underestimated how much I'd enjoy being a SAHM.....will have to consider it some more
 
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