Distribute my standard rate cut off to my husband

[virgo08]

I am planning on going part time in my job to work 1 day a week for my husband. Because of this I am at a loss of approx €100 net. I was going to give my husband some of my standard rate cut off and take some of his credit so that i won't be at a loss. Can anyone advise if i am doing the right thing or is there a better way to do this tax wise?

 

[Joe1234]

Presumably if you are working for your husband then he is self employed. Hopefully he has an accountant. You should check with the accountant as he/she will know the best course of action relevant to your particular circumstances.

 

[virgo08]

e.g My Standard Rate cut off is €700 My Gross Pay is €600 so im left with €100 which i was going to allocate to him. Then take €50 of his tax credit to bring my net pay back up a little. Hope this all makes sense. He is Self Employed so i thought this would be the best option instead of him paying me for 1 day for the work i do for him?

 

[quinno]

Myself and Mrs Q just did this. I am taking all of the cut-off (€44400) and the tax redits (€7500 approx). This means I can earn more before being hit with 41%, as well as having a higher tax free ceiling. The tax office will do this over the phone, or you can do it at www.ros.ie (have to register for this and get a PIN).