Wife taking career break - what to do?

A

AlastairSC

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We'll have just one income next year - mine. We plan to use her SSIA to fund a career break while she studies for what will hopefully be a change of occupation.

How do I redistribute our tax allowances to my salary? Are there any pitfalls, deadlines etc to avoid losing out in some way?

We're thinking of Sept 07 for 12 months. Both PAYE.
 
The easiest wat to allocate credits between spouses is to do so online. You can register on www.ros.ie . Alternatively give your local tax office a call. The PAYE employee credit is not transferable between spouses. As your wife intends to return to study you may qualify for a tax credit in respect of tuition fees paid. See the following link for more details.

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You may also qualify for the home carer's credit - see details here

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