2007 transferring 20% tax allowances

[nichick]

I'm on maternity leave since september last year, up to that point i earned less than the allowable amount that is taxed at 20%, my husband however is getting taxed at the higher band, is there the possibility of transferring my unused portion of the allowance to 20% to him and claim back the tax that he paid in 2007, and if this is possible can anyone advise how you go about it. Thanks a mill

 

[S€D]

The Standard Rate Cut-Off Point (i.e. amount you can earn which is taxed at 20%)for married couples for 2007 is €43,000 subject to an increase of up to €25,000 where both spouses are working. The increase is limited to the lower of €25,000 or the amount of the income of the spouse with the smaller income. This increase is not transferable between spouses.

Example:

Husband earns €50,000 and you earn €15,000. This will be taxed as:

Husband - €43,000 at 20% and €7,000 at 41%
You - €15,000 at 20%

Assuming you elected for joint assessment when got married, your husband should automatically be given the cut-off of €43,000 but you can check this on this certificate of tax credits that the Revenue send out each year or you can give them a call directly.