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Hallway123
Junior Member
United Kingdom
181 Posts |
 Posted - 10 October 2009 : 19:42:39
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2 weeks ago after returning ED soa, I received a letter saying or had finished with my case and would (if no creditors objected) be filling ED papers for me at court in 28 days from date of letter.Today I received letter from inland revenue saying I now have a Nil Tax code in place, 3 things are worring me:
1 will this affect me getting early discharge,
2 who do I pay tax money to and how will they(and myself)Know how much tax I should have paid as wages vary
3 Will my employers now find out that I'm BR
I feel like crying I really thought I was over the worst of it and it was comming to an end,should have known it was too good to be true. |
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debtinfo
forum expert
2826 Posts |
Posted - 10 October 2009 : 20:42:06
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| Hi, when did you go bankrupt, how much to you pay on average for your tax and have you received a letter fron the OR about a Nil tax IPA |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 10 October 2009 : 20:44:19
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No the NT tax code will not affect ED
The tax you would have paid to the Tax man is normally collected by a company who will contact you for it (Moonbeavers)
when they contact you they will discuss the amounts with you
No your employers will not necessarily find out you are BR, there are various reasond for having a NT Tax code
Don't cry please the NT IPA will only be until March 2010 and its no worry really
Well done for getting ED
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
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Hallway123
Junior Member
United Kingdom
181 Posts |
Posted - 10 October 2009 : 21:13:12
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| No not had any mention of nil tax code from OR in fact last time I spoke to them they said there was nothing on the computer about it.My income has dropped a lot over last few months and on avrerage I only pay about £130 a month tax now. |
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debtinfo
forum expert
2826 Posts |
Posted - 10 October 2009 : 21:23:02
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| Probably best to ask the OR if they will be collecting this amount from you |
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Hallway123
Junior Member
United Kingdom
181 Posts |
Posted - 10 October 2009 : 21:32:21
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| Might leave it few weeks to see if anyone gets in touch, don't get paid for 3 weeks anyway,do I have to sign an agreement or something. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 11 October 2009 : 09:37:21
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| Yes, you would need to sign a NT IPA agreement. Depending upon how much tax you pay each month the OR may not deem it worthwhile setting up the NT Tax Code as this takes time and (I think) has a cost factor for the OR. |
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mick1972a
Junior Member
235 Posts |
Posted - 11 October 2009 : 11:08:32
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I recieved a letter in june informing me i would have a ntc of £120 per month. Have been sending my payslips to moonbeaver since then but it has still not been applied.
If it takes this long to apply it they may not bother but even if they do you are not losing any money the tax you pay just goes to moonbeaver rather than the tax man.
Mick |
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Hallway123
Junior Member
United Kingdom
181 Posts |
Posted - 11 October 2009 : 19:25:30
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| Maybe I'm thick,but I can't understand why I'v got letter saying nil tax code is now in place and not heard anything at all from OR,am I still likely to get ED in couple of weeks as stated in previous letters and what happens if I get ED before nil tax ipa agreement arrives. |
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debtinfo
forum expert
2826 Posts |
Posted - 11 October 2009 : 20:36:28
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| your not being thick, the IR decision to change your tax code is totally independent of the OR's decision of whether to collect the surplus income it creates. I would have expected the OR to send you something by now |
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panicing again now
