PAYE/Soletrader

Sorry if this has been covered in previous post, but I been reading conflicting answers.
I am employed PAYE and looking to set up my own business (sole trader). I am looking for clarification on the following
Do I lose my PAYE tax credit?
I am jointly assessed with my wife also PAYE. Are there any pitfalls with this setup for us?
Grateful for any info

will you continue to have paye income? - if so you can keep it

Yes thanks for the reply WindUp.
I will be continuing to work in my PAYE role as it will be 12 to 18 months before I project a sustainable profit.

Really?! Where are the conflicting answers?!

This is not a grey area. Being a sole trader has no effect on either spouse's entitlement to a PAYE credit.

As long as you have PAYE income (apart from as a director of your own Ltd co.), you will be entitled to a PAYE credit. Simple as that.

As long as your wife has PAYE income, she will be entitled to a PAYE credit. Simple as that.

The PAYE credit is 20% of your PAYE income, subject to a max credit of 1,650 in 2012 (which equates to 8,250 of "tax free" PAYE income).

Thanks mandelbrot.
I think it’s just me reading too much information rather than good information and not really knowing the difference. I am trying to find my way at the moment.