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| T O P I C R E V I E W |
| Nat |
Posted - 19 October 2008 : 15:36:59
Hi all
Been a little while but i am still here!!
Had the letter from OR regarding when I go to nil tax code i will pay £150 per month as that's the average that i paid before.
HOWEVER, had a letter from HM Revenue & Customs saying that my tax code has changed from 543L to 603L, this is happening a lot to people at mo don't ask me why but it is legit, I just can't work it out!!
That means that the amount of tax that i would pay for the remainder of this tax year would be less than the £150 average that i have been paying. Having no idea when my tax code will go to nil, next month or the month after, how am i going to know how much i should be paying????
Also, according to my I&E I don't have enough coming in to cover my outgoings, i use my maintenance and CB to cover the shortfall. So this should have no effect on a reduced payment re tax.
I really hope that all makes sense, sorry if it doesn't!!
Nat x
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| 13 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 29 October 2008 : 17:09:40
Hi Maizie
Its a little device that is shows how much electric your using and also the cost.
I had one called an Efergy but this is the same as the EON one.
If you go into ebay and i know this is not to do with BR and have a look at energy saving you will see allsorts of them but southern electric give them free on one of their price plans.
Sorry admin i am not advertising we are all skint and need to save money :-)
LOL
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| maizie |
Posted - 29 October 2008 : 16:48:22
Can I just interrupt here? What free energy device is this Needafriend?
Maizie |
| Needafriend |
Posted - 29 October 2008 : 16:23:50
Hey Nat
My kids are the samw now. They ask for things and then like you i say NO you will have to wait they are great with that.
They also like to save leccy, we have one of the free energy devices that SE sent to us and they know what it costs, so dont leave things on anymore.
Overall things are pretty good now and i agree its great to know apart from the mortgage i owe no one now.
Anyhow you, i want you to chill and relax and try not to worry yourself over this, it will all come good in the end.
LOL
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| Nat |
Posted - 29 October 2008 : 14:55:24
Hi Jo
thanks for the kind words. Just had a letter fro Moon Beever and they want copies of my pay statements so they can work out what i should be paying when i go to nil tax code. At least that is something.
I'll wait and see what happens regarding my tax credits. I don't think there's any point going over my I&E again as I still have the same bills they haven't changed and my incomings will be whatever they are, i'll have to see if i can boost them somehow if i need to.
On the whole though being BR really isn't that bad and it's nice knowing what i have i own and the kids are really good when they ask for things and i say no or they'll have to wait, no problems there at the moment at least anyway!!!!
Nat
x |
| Needafriend |
Posted - 29 October 2008 : 08:32:07
Hi Nat
I do know where your coming from.
Can you not change your I&E now with the OR as clearly your worse off and you should not be. Have you spoken to them as like you have said you have basically nothing and going BR should have at least allowed you a little bit extra to live on per month.
Hey, you know i am here for you, whenever you need me and if you feel you need a chat just let me know
:-)
LOL
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| Nat |
Posted - 29 October 2008 : 07:50:19
Hi Jo
I know what you're saying but what is so frustrating is that getting that bit extra in the pay packet but having to hand it straight over to the OR will more than likely mean that my Tsx Credits will drop which in turn makes me worse off!!! I hardly have enough coming in as it is to cover everything so more pressure in the finance department.
On another note, my cat has to go into the vets for an operation and been quoted £350 but there will be more costs to follow as think she has asthma and is going to need inhalers (i'll post piccies on you tube if it does come to that!!!) which is going to be very expensive. Do have pet insurance and they are willing to pay the vet direct HOWEVER the flipping vets won't accept it unless it's through one particular company. SO i have to magic the money up from somewhere and wait approx 3 weeks to get it back!! Really fair isn't it??? It's at times like this that i wish i could have an overdraft to cover things like this not that i am advocating debt in any way!!
Moan over, sometimes things just really get to you don't they?
Nat |
| Needafriend |
Posted - 29 October 2008 : 07:10:42
Hi Nat
You could inform the tax credits people as soon as you know what your new income will be. They dont mind having changes now as i recently told mine again about some changes.
As for the overpayments i think we all end up in those. I have no doubt we will have another overpayment again, i dont know how they work it but somehow we always end up owing them, again!
Anyhow, my OH's NT code has started now, it has taken 3 months to set up, this being the 3rd month so just waiting now for them to claim it from us.
With regard to the NT code and a change of employer the code will not be valid if you change employer it will go over to either an emergency code or the basic tax code for the year.
Best of luck :-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| Nat |
Posted - 28 October 2008 : 16:00:45
Hi all
Just thought that i would let you know. Spoke to the OR office yesterday told not to worry. My details been sent to a collection agency who will contact me shortly. When they contact me i'll get my recent payslips out and just explain to them. Wasn't sure when i change employer if nil tax code would still apply i have a feeling that it might.
Confused - can you let your employer know if you go BR. I'm lucky and have a really understanding boss and she was great about it all. Might make things a little easier in the long run if you can and does take a bit of pressure off you.
Only issue i have now is my incomings are going to be higher which i reckon will affect my tax credits next year and more than likely mean an overpayment this year. Anybody had any experience of this??
Nat |
| Skippy |
Posted - 20 October 2008 : 10:13:33
You will get an NT code for the remainder of the tax year that you are made BR - IF HMRC implement it. The closer you are to the end of the tax year the less chance there is of you getting one.
If you change jobs during that tax year, your tax code will revert to normal, e.g. 603L.
I hope that makes sense!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| Confused |
Posted - 20 October 2008 : 10:06:30
I need to get my head round these tax codes to......... confusing! Plus it means someone at work paying your salary will know :-( |
| Skippy |
Posted - 19 October 2008 : 17:40:56
You might not get a NT code in that case Nat. If you have a change of employer whilst on an NT code it goes back to normal. I'm wondering if you change employer before the NT code is applied whether they'll actually do it.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| Nat |
Posted - 19 October 2008 : 17:36:34
Thanks Jo
I'll wait for my next payslip to drop through the door and see what that says and go from there. Just to complicate things, i'm gettting a permanent contract in November which will mean new employer and differnet pay altogether but will be paying into a pension scheme as well, nothing is ever simple |
| Needafriend |
Posted - 19 October 2008 : 15:47:17
Hi Nat
We had the same problem, our OR calculated ours at 285 but it really is about 215. We had letters from the collecting solicitors and mentioned to them and they are sending us eventually a change of circumstances form to fill in as obviously the tax is now much less.
I would wait to hear from the collecting solicitors and mention to them, unless you have not signed anything for it yet, if you have not then query it with the OR.
Otherwise hang on in there and it will get sorted out eventually.
As ours will:-)
As i dont know about you but that money that we will end up paying to the OR is for our essential living and the children.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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