Nomansland
Registered User
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- 70
Hi,
My wife and I are jointly assessed for income tax purposes. We are both in the PAYE sector. For the year 2010, prior to doing a tax return, I would have recieved a total tax credit of 3660 (1830 personal and 1830 PAYE credit). My wife would have recieved the same plus and extra 70 for trade union stubs.
I earned 60K approx for the year so I am well into the top rate. I know that I only payed 41% on income over 45,400, as we are jointly assessed and my wife earned way less than the 36,400 cut off point.
My wifes taxable income according to her P60 was 17,400. On my calculations, her tax due would have been 17,400 @ 20% = 3480. This 3480 is offset against her tax credit of 3730, meaning no tax due, which was reflected on her P60. However 250 of her tax credit has not been utilised. Can this be transferred to me so I get the benefit of it??
Also, I know that you are entitled to a tax credit for health insurance paid by your employer. I have a few questions on this.
1 - Is it 20% of the gross amount paid by your employer on your behalf?
2 - Is this credit automatically given to you by revenue at the start of the year, or do you have to claim for it by way of form 11.
3 - If you have to claim for it, and have not done so for a number of years, how many years can you go back and claim for.
Thanks in advance,
NM.
My wife and I are jointly assessed for income tax purposes. We are both in the PAYE sector. For the year 2010, prior to doing a tax return, I would have recieved a total tax credit of 3660 (1830 personal and 1830 PAYE credit). My wife would have recieved the same plus and extra 70 for trade union stubs.
I earned 60K approx for the year so I am well into the top rate. I know that I only payed 41% on income over 45,400, as we are jointly assessed and my wife earned way less than the 36,400 cut off point.
My wifes taxable income according to her P60 was 17,400. On my calculations, her tax due would have been 17,400 @ 20% = 3480. This 3480 is offset against her tax credit of 3730, meaning no tax due, which was reflected on her P60. However 250 of her tax credit has not been utilised. Can this be transferred to me so I get the benefit of it??
Also, I know that you are entitled to a tax credit for health insurance paid by your employer. I have a few questions on this.
1 - Is it 20% of the gross amount paid by your employer on your behalf?
2 - Is this credit automatically given to you by revenue at the start of the year, or do you have to claim for it by way of form 11.
3 - If you have to claim for it, and have not done so for a number of years, how many years can you go back and claim for.
Thanks in advance,
NM.