Bankrucpty nt tax code help

Darrenm325
Darrenm325 Posts: 33 Forumite
in Bankruptcy & living with it
Good evening all my first post so go easy on me
Well after a few silly mistakes in my past I filed for bankrucpty my order date was 10th August 2017
I have just been payed this month from my employer and I have a NT tax code ( no tax to be paid ) so I have not paid any tax and I beleave I don’t until the start of the new tax year next year
Does this mean I ow the tax man load of money next year I’m a bit lost on how this works am I ment to send what I was paying in tax to my O.R
Also no one has been in contact about me paying any money to my OR every month
Could some one please help
«1

Comments

  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    Hi and welcome. No you wont owe the tax man money. HMRC become creditors like everyone else you owe money to. The 'extra' in your paypacket should be collected by a 3rd party on behalf of the OR - its usually a company called Clarke Willmott (but there a couple of others I think) Make sure you put the extra cash in your pay packet away somewhere and don't spend it.
    Sometimes its takes the collection company a few weeks to catch up. Just sit tight and as I say - don't spend the 'extra'
    The only rare exception to this is that the OR decides your income is so low that you need the 'extra' This doesn't happen often these days though.
  • Darrenm325
    Darrenm325 Posts: 33 Forumite
    And there was me thinking I dident have to worry about all the kids xmas presents ��
  • Darrenm325
    Darrenm325 Posts: 33 Forumite
    How will I know how much to pay month as my pay is different from month to month
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    Darrenm325 wrote: »
    How will I know how much to pay month as my pay is different from month to month

    The collection agent will tell you. It would normally be the whole amount you would have paid in tax. You may be able to keep a bit - I only paid Clarke Willmott 80% of what I would have paid in tax but I was on a very low income at the time.
  • StopIt
    StopIt Posts: 1,470 Forumite
    Darrenm325 wrote: »
    How will I know how much to pay month as my pay is different from month to month


    Whatever your tax for that month was going to be.


    You'll be told what it is, but if you need to, there's online tax calculators where you can input your monthly pay for that month and it'll tell you the tax payable.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • Darrenm325
    Darrenm325 Posts: 33 Forumite
    As my over time at work is completely I think I will be entered in to a ipa
    Some months I do 10 hours and other months up to 110 hours over time
    ATM my other half works full time Amd we pay for child care in the morning and evening if I’m gonna be hit with a ipa of over £1000 when I have to do over time I can’t see the point in my OH working until my ipa has finished
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    Has the OR told you what your expected IPA will be or even if there will be one? (excluding the NT code)? Those with variable income usually have an IPA based on an annual average and/or have to submit their payslips regularly.
  • Darrenm325
    Darrenm325 Posts: 33 Forumite
    TheGardener wrote: »
    Has the OR told you what your expected IPA will be or even if there will be one? (excluding the NT code)? Those with variable income usually have an IPA based on an annual average and/or have to submit their payslips regularly.


    Not herd a thing for weeks from them they have not said I will or will not have to pay a ipa however on my phone interview the or said I may have too
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    Did you receive a letter saying you were going to have an NT code? When I got mine it said what the total IPA was going to be and the amount of tax I paid was included in the total. It was all on the one letter from the OR.
  • Darrenm325
    Darrenm325 Posts: 33 Forumite
    Nope not even a letter
    Iv just logged in to my bankrucpty online to see if any thing on there but nothing either
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