benefits of being jointly assessed?

M

missthrifty

Registered User
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47
Hello,
I am self employed and jointly assessed for tax with my husband who is also self employed.

I am due to close my business at the end of December and wonder what benefit there would be in transferring my tax credit to him for future years once I become wifey at home. If I do nothing with it, will it be wasted?

This will be until paye employment hopefully becomes available.

Thank you.
 
No need to transfer the credit, unless your husband is a company director paying tax through the PAYE system (if this is the case, transfer it). Your personal tax credit won't be wasted in any case - if you are jointly assessed it will be included and claimed in your tax return and used to reduced your joint tax liability.
 
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