When I go BR, HMRC apply a NT code so I don't pay PAYE tax. This means I take home more per month, so that is taken with an IPA.
At the end of the tax year, I still owe HMRC the tax though...? How do I pay it if I haven't been able to save it from my monthly salary? This has really confused me!
Hi at the end of the period of an NT based IPA you do not owe HMRC anything. Not from the period of the NT IPA nor from before that as any debts owed to HMRC accrued prior to BR are written off.
Another BR question - NT tax code?
Posted - 14 September 2008 : 22:24:46
