Transferring credits to husband?

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Voda

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I am on around 39k. While my husband's basic is about 27k, his overtime (which is guaranteed) brings him up to similar earnings to me. I have always held the higher tax credits because I always earned more (his current job is relatively new).
When I go on maternity leave, am I better transferring all my tax credits to him or do I get it all back when I go back to work anyway? (I don't get maternity pay from my job by the way, just the basic state contribution.)

This whole area confuses the hell out of me so simple language if you're replying - many thanks!
 
You will get the benefit of unused credits / cut-off point on return to work. If you do not return before year end make sure to get a Balancing Statement done (P21) and the excess credits will be reflected there.
 
Also, I recently attempted to transfer my credits to husband and was advised I could not, as the cutoff is March of each year.
But they can update our 2009 plan, just not 08 at this stage of the year.
Hope that helps,m.
 
Thanks for the replies - it didn't really make things any clearer. I guess what I am asking is, will we get more money doing it one way as opposed to the other?

In other words, if he has my tax credits and comes out with more every month or I keep the tax credits and get a refund when I go back to work, will this work out as the same amount or does one way lead to us getting more money overall??
Apologies if that's not clear. Hate tax issues...
 
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