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| T O P I C R E V I E W |
| Chris.98 |
Posted - 24 November 2010 : 20:58:43
hi there just a quick question i was made bankrupt 3 months ago and i have had 1 telephone interview with my o/r. which went well, up to date i havent had no more deallings with the o/r and my tax code is still the same , so what happens now ?? im not paying no money back aswell. |
| 4 L A T E S T R E P L I E S (Newest First) |
| Bigal4787 |
Posted - 27 November 2010 : 23:40:23
If your tax code hasn't changed to nil,you will get a tax refund,however instead of going to you, HMRC will send the cheque to the OR.
HMRC will automatically change your tax code back to normal from April 2011.
Big Al |
| inapickle |
Posted - 26 November 2010 : 19:35:36
I am currently in a similar position to Chris waiting for my Tax Code to change to Nil. I have had written confirmation from the IR that they have wrote to my employer to input a NT code for the remainder of this Tax Year
Am I write in thinking that from April 2011 I will just revert automatically to my normal Tax code and that the IR will do this without needing any contact from me? |
| gettingoutofdebt |
Posted - 26 November 2010 : 14:50:12
If you don't pay a lot of tax then the OR won't always contact HMRC to have them update your tax code. There will be fees that the OR would have to pay in order to get the tax code updated, etc. so unless the amount you would pay is worth their while they don't always bother.
As Blackie has said keep your head down and it is the ORs responsibility to get the NT code implemented as well as an IPA setup if you have enough DI. |
| Blackie |
Posted - 26 November 2010 : 11:38:45
Good morning Chris
You just wait and carry on as normal. Let sleeping dogs lie and do not contact the OR. Remember the clock is still ticking whether the OR is in communication or not. If he needs or wants something, he will contact you. It sounds, however, as if the OR is not going to slap an Income Payments Agreement on you for your tax. He can only do this until the end of the financial year at the beginning of April 2011 by which time you may be eligible for an early discharge.
All the very best
John Blackadder
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