Last year my husband was out of work and therefore we transferec some if his credits to me. Now he is back in full time employment, I'm trying to figure out how best to split tax credits.
My husband earns 550 gross a wk. I earn 3017 a month so approx 754 a week. Does anyone have any recommendations about splitting tax credits? Thanks!
I'd suggest allocating €29,000 of rate bands (being taxed at 20%) to your husband with the remainder to yourself. For tax credits I'd suggest that personal tax credit and PAYE credit be allocated to each individual as both will be used.
I moved to part-time and so may not have the required income to benefit from tax credits - the part-time is not assured so I might well be out of work in a couple of months.
For this reason during the month of January I transferred my tax credit to my husband so now he gets 6600 tax credits or whatever it is and I get 0. We each have our own PAYE credit which I don't think you can transfer.
We have just been paid for the month of February and my salary seems to have dropped by 1000e yet his has not gained 1000e. I had thought that we would at least come out with the same total take home pay between the two of us. Is that not the case?
Either your husband doesnt pay enough tax to utilise all the credits or his employer have not receivced or applied his new taxcredit cert
you should be able to tell from his payslip
you still have 1650 paye tax credit - you transferred your 1650 personal credit to him so he should have 2x personal = 3300 + paye 1650 = 4950 and any other credits that he might have
Either your husband doesnt pay enough tax to utilise all the credits or his employer have not receivced or applied his new taxcredit cert
you should be able to tell from his payslip
you still have 1650 paye tax credit - you transferred your 1650 personal credit to him so he should have 2x personal = 3300 + paye 1650 = 4950 and any other credits that he might have