are you considering going bankrupt?

maxmycardagain

if you are working and worried about getting a NIL tax code which could attract attention in your wages department, remember a NT code has to be applied in tax year you go BR, so if you can do it before the end of March you should avoid the problem.

think so anyway....:rolleyes:

skintsteve_2

You're right maxmycardagain.

My OR yesterday said she would not be sending us the NTC forms, as it is too close to April. She did say that we might go Nil TC for one month and back to normal april, but she did say they were quite busy and it may not happen at all.

Broken_hearted

No never considered it.

sarahloukpntia

can i ask what NT, TC & NTC mean please?
thanks

maxmycardagain

nil tax coding

your employer gets a NT from the taxman (inland revenue aka HMRC) and you do not get stopped any tax

do not rejoice

you then have to send the monies extra to the OR (Offical Reciever) or thier appointed bagman

(applicable if you get an IPO - http://www.insolvency.gov.uk/guidanceleaflets/ipoipa/ipoipa.htm )

pink-lint_2

we just got our letter off the inland revenue yesterday and on next months pay the nill tax code will apply. we also got letter of moon beever telling us to send pay slips wchich we have been doing as it will start from feb pay ....

OH went br in oct !! and its only happening now (well from feb)

so will it just be febs and march pay (18th each month) ?

then back to normal in april ?

completemess

Thanks for that Max, that's my plan xx

maxmycardagain

completemess wrote: »

Thanks for that Max, that's my plan xx

im not SUGGESTING you should go BR............:rolleyes:

completemess

If you looked at my figures you would be lol