To think mums should be able to transfer their tax free allowance to their dp's

[PearlyWhites]

And stay at home to look after their own children instead of being given tax breaks for childcare.It would also create more jobs as the now sahm's job would become vacant.

i presume you mean parent and not mum,as it could work the other way round too yes?

Yes I meant parent just put mum out of habit as I am a sahm

Or Dads? No? I doubt may people could afford to suddenly fund a stay at home parent due to their tax bill being reduced by £2k... Also, what happens when all the SAHMs you've created try to rejoin the workforce in a few years time having been out of the job market?

Yeah I agree the tax free allowance should be per adult family member; would make keeping the business afloat much easier too x

Im not sure I understand what you mean? Surely you cant transfer an allowance from someone who is not actually earning? It makes no sense. Or am I completely misunderstanding what you mean?

What's 20% of £10k? £2k. But then you don't even pay 20% on the whole £10k do you. So what we looking at here, about £1k? That's going to support you to stay at home all year is it?

Did I just do maths? Woo!

I dislike that idea.
Why should one parent automatically have to lose their career because they have a child? And how would your plan be anything other than a further disadvantage to any single parents?

yes i think its a good idea.

It'd never work given that our whole tax system is fundamentally individual. How would you manage it? could you transfer it to any other adult at the same address? Or would you need to be married? Why should it be instead of tax breaks for childcare, why not have both?

I say this as a sole earner with a SAHDP...

If the working parent didn't pay tax till they earned 20k then you would save more than 1k. If combine the tax saving with the childcare savings then yes I think you could afford to live on just one income. I am not saying a parent should give up their career just that their should be tax breaks for sahps not just for working ones.

suely that used to be how it worked? The married person's tax allowance was abolished in 1999.

surely.

Mama tax credits are worked out on family income so I don't see how difficult it would be.

So £2k then?

To make wifey stay at home.

Nah.

Why should you get a childcare saving if you are staying at home?

Presumably their income would have to be of such a level that they weren't getting help with childcare on both wages and won't on one. So reason suggests this would benefit those earning above average wage therefore giving up a good wage to give your partner a tax break probably isn't economical.

If one partner was a very high earner and the other minimum wage then it might make sense for the lower earner not to work but even with childcare costs (which decrease over time) I still don't think that thetax saved makes us what they would've earned after childcare.

I think mama has a point. If you start to entangle your tax affairs together a woman may never be able ti get back into the workplace, especially if the relationship becomes rocky or even abusive. It makes the sahm seem like chattel.

ah, just realised you meant the saving in not paying for childcare, not the childcare tax relief. Sorry!

Don't get me started on heading back towards a 'married person's allowance' type tax situation though...

We do not get working tax credits as we are deemed to earn too much (I think we are 3p over the threshold). I just cant see how it could enable one parent to stay at home. Or how you can claim a tax free allowance if you are not working? Unless I win the lottery I couldn't afford to be a SAHM anyway as I am the main earner, but again, only by a small amount, so we couldnt afford him to be a SAHD either.

I do think there should be some sort of tax incentive for those people who stay at home to look after children. There aren't enough jobs, or childcare places, for all of us to work after all.

It's become more possible because the child benefit changes have already undermined the idea of individual taxation.

No not just married parents but any couples who live together. If they split up you would have a seperate tax allowance again

so in theory you'd be able to give it to any other adult at the same address? I can see it leading to abuse of vulnerable people tbh. or would people have to have a child together? If so, is that not then discriminatory against couples with no children?