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Nil Tax Code

cherry123_2
cherry123_2 Posts: 120 Forumite
in Bankruptcy & living with it
Hi,

Just going over everything, and I have a question.

The CAB lady I saw said that my employers would find out about my bankruptcy due to a NIL taxcode being imposed on me. is this true because I do not earn enough money per year and do not pay either tax nor national insurance. ????:(

thanks cherry
£365.00 in 365 day challenge = £5.00/£365.00:rolleyes:

Comments

  • In_a_Mess_3
    In_a_Mess_3 Posts: 500 Forumite
    Hi cherry, I read somewhere on this forum that there are lots of reasons you can get a nil tax code, and someone else, sorry can't remember who, told a tale of an employer asking the tax office why and being told they wouldn't tell them.

    Hope that puts your mind at rest for a bit, and hopefully someone else will be along who can remember which thread it was on, I am hopeless at remembering these things!
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It was Debtinfo who told us the original story and yes you are right IAM there are various reason's you gt a Nil Tax code

    Though if you have under £50 of tax a month they don't normally deem it viable to collect, so you may not get one.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Actually i think it was JCS1 but the point stands the IR dont say why a NT code is applied just that it is. Also as stated above since you are not paying any tax it is academic anyway
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
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