| T O P I C R E V I E W |
| rabbit007 |
Posted - 05 August 2009 : 16:11:27
could someone explain me about nil tax? |
| 4 L A T E S T R E P L I E S (Newest First) |
| Hallway123 |
Posted - 05 August 2009 : 19:35:51
Thanks I went bankrupt in May so I should hear soon. |
| mick1972a |
Posted - 05 August 2009 : 18:33:10
I got a letter from the tax place about 3 weeks ago to say they will be applying a NTC. Still not been applied yet and I went BR in April.
I have to send off my payslips to Moon Beever (the place i pay the tax to) until i recieve my NTC so if your pay has dropped and they see this then you will just end up paying less to them as you would of paid less tax. |
| Hallway123 |
Posted - 05 August 2009 : 18:08:24
Do you get notification of when your nil tax code is going to happen and how much tax they have worked out you should have paid and can you disagree with it.The reason I ask is that my wages have dropped drasticly since I filled in soa, so ammount of tax I pay has gone from an average of £250 a month to £112 a month.I did explain this to OR and got to send july and Augusts wage slips off when I get them.Nil Tax wasn't mentioned to me at interview at all.Also how long does it take for nil tax code tobe put inplace. |
| mick1972a |
Posted - 05 August 2009 : 16:50:46
Hi Rabbit, NIL tax is applied to your pay when you go BR.
When you get a NTC you dont pay any tax so you get the extra in your pay. You have to keep this and pay it to Moon Beever solicitors (me anyway) up until the following april where you will continue to pay tax again
So I get paid about £1200 before deductions £120 of my deductions is tax.
I dont pay any when I have a NTC so need to keep the £120 aside and pay it into my BR until april next year when the NTC ends.
Hope this makes sence
Mick |
