A
amelia
Guest
My husband is a PAYE worker, in the higher tax band. I am on a career break, minding our two small kids. We are therefore jointly assessed. I have the opportunity to do sporadic work on a self-employed basis. I probably would not earn more than €500 - €1000 euro over the year. If I register as self-employed (which I presume I will have to do to declare the income), will I get additional tax credits?
What I am getting at is if I am at home earning nothing, we get the usual tax credits. If I earn something and am therefore part of the economy will it benefit us in our tax credits? With individualisation, I understood that a couple are penalised if a spouse is not working. I think the tax credits are better for two working. But that is with PAYE workers. If I do work on a self-employed basis even if for very little, will there be a benefit in our tax credits? If I do not have to pay tax on such a small sum, can my husband earn more at 20%?
Hope this makes sense, not entirely sure it does. Any help would be appreciated.
What I am getting at is if I am at home earning nothing, we get the usual tax credits. If I earn something and am therefore part of the economy will it benefit us in our tax credits? With individualisation, I understood that a couple are penalised if a spouse is not working. I think the tax credits are better for two working. But that is with PAYE workers. If I do work on a self-employed basis even if for very little, will there be a benefit in our tax credits? If I do not have to pay tax on such a small sum, can my husband earn more at 20%?
Hope this makes sense, not entirely sure it does. Any help would be appreciated.