Your employes are not informed of your bankruptcy, but it is published in your local paper (once a week all orders in area published in legal notices) so be prepared someone might read it. Unless your are financially licenced for example an FSA member mortgage broker etc a bankruptcy order should not cause you employment difficulties - Would it not be better to speka to your HR section upfront and advise them of what is happening rather than have some one read it though? If you are declared bankrupt after beginning of April you will be placed an an NT tax coding, which your pay section /HR may enquire about (If the bankruptcy hearing is before 1st April this will not happen)
NT Coding means that any tax you would have paid through your employment you will pay direct to the OR for the year in which you are declared bankrupt, however due to the time it takes to set this up if you go bankrupt Feb/Mar in any year this does not happend but is you are deckared bankrupt April thoguh to January you will be placed on an NT coding
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
are my employers informed.
Posted - 23 March 2009 : 14:50:13
