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juditka
Junior Member
171 Posts |
 Posted - 28 February 2007 : 00:04:18
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| If I go bankrupt will my workplace be notified? |
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Debtdummy
Junior Member
United Kingdom
267 Posts |
Posted - 28 February 2007 : 01:48:18
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hello juditka, I am not an expert on BRs just someone who will be petitioning for one. It depends on your profession whether or not they will be notified. Some professions make it manditory i.e solicitors, bankers, accountants, police officers, military personnal, magistrates and a few more. So, do read your contract. Also no matter what profession you are in the payroll office will be notified. After your bankruptcy is approved by the judge, the Official Receiver will notify them because of the new tax code you will receive. You will receive a NIL Tax Code.
No, payroll can't disclose your BR to your line manager/supervisor UNLESS you work in one of the areas mentioned above.
This is a brief explanation, but I hope it put your mind at ease somewhat.
A real expert will be along to answer you in detail. I just didn't want you waiting for a reply during this time of stress. I wanted you to know we are here to support you and we really do read these posts.
All I have left is my sense of humour. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 08 March 2007 : 13:42:57
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I'm probably being thick, but why do we get a nil tax code and what impact will this have on my salary? Does it mean that I will be taxed on everything, or that I will pay no tax?
Where there's life there's hope! |
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Debtdummy
Junior Member
United Kingdom
267 Posts |
Posted - 09 March 2007 : 19:44:01
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hello skippy, I posted some information on a nil tax code. It's under the heading, Bankruptcy and a Nil Tax Code. Hope it helps answer your question.
Take care.
All I have left is my sense of humour. |
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