Hi, wondered if anyone knew anything about changes to income after discharge and what happens with tax code if income increases????? Getting a bit confused with leaflet reading.
if you have an IPA then income changes up or down need to be told to the OR if you do not have an IPA then after discharge no one needs to be told. as far as tax codes change. during the tax year that you are declared BR you may have a NT Nil Tax code, be paid gross and collect the tax you would have paid to the OR through Moonbeavers Solicitors the NT tax code should revert back to your normal tax code once that tax year is over. your tax code is the 1st 3 numbers of your tax allowance (the amount you can earn per year before paying tax) this number does not alter with income.
Dave
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Changes to income after discharge
Posted - 29 October 2010 : 18:23:18
