Tax credits help needed please

S

Star2014

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Hi all. Have found ourselves in a very hard financial situation and are struggling to cover everyday costs. I'm working in the public sector on 45k a year. My husband is self employed however has only earned 8000 in the last year. In august of this year he had a major operation and has been unable to work since and will be recovering for at least the next six months. I am looking into transferring over his tax credits to me. He isn't entitled to any illness benefit as is self employed and therefore has had no income at all since he got sick in August. We are struggling to keep our heads above water. On top of this we are living in dublin and now our landlord wants to put up our rent for next year. We got married last march but haven't informed revenue yet as at the time were happy to continue to be assessed individually. Any advice on the best way to fill out the IT 2 form would be very much appreciated.
 
Can anybody please help me with this? Totally clueless about taxes and really don't know what to do for the best
 
March 13 or 14?

If 13 ring Revenue with your and his PPSN and explain the situation and ask for the increased standard rate band be allocated to you.

If 14 there is nothing that can be done until the end of the year.
 
Thanks for ur reply. We got married in March 14. Will bring jointly assessed make any difference to my pay next year?
 
Yes you will get a standard rate cut off of €42,800 increased from €33,800.
 
As Joe said above you can get an increase in your 20% tax band of €9,000 which is worth €1,800 over the course of the year

Assuming that your husband will work at some stage in 2015, you cannot therefore take any of his tax credits for the 2015 tax year as he will need it to shelter his own income

So total tax saving = €1,800 which works out at €150 per month

You would also be entitled to some tax back for the 2014 tax year which you can apply for in early 2015. At a very rough guess it should be around €1,400 I think. You should ring Revenue in 2015 and inform them that you were married in 2014 and wish to be jointly assessed from date-of-marriage and they should sort it out for you.
 
Revenue help line offer a good service and advice on these type of issues. Give them a call!
 
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