NT Repayment

AllNancy

Hi,
I've had an NT tax coding for the last few months but I'm still not clear as to how the monies are to be repaid.

I read the information :eek: but I'm still confused. Do they ask for it back in one lump sum? Do you pay it back under an IPA?

I'm now retired and still waiting for the P45.....a very inefficient County Council and know that the tax is approx £45 more than it should be. Do I lose that..........as it will be included in the pot?

If some kind soul could please explain....slowly!

Thanks


Nancy

dalip

Hi Nancy
I never had one but from what i have read on here,you normally have to pay it to the OR's collectors. That used to be clarke willmott(sp) but believe they have changed to moon beaver. They are supposed to contact you to say how much you should be paying and to give you several payment methods as in dd/cheque:rolleyes: /post office ect. Sometimes if your code does not change by the end of the tax year when you went bc the OR will collect direct from HMRC.

Just keep the money safe and do not spend it. As your NT code is already set up they will ask for the amounts they deem appropriate from the date it changed.It is called a NT IPA and is supposed to work along similar lines but that is only when you go bc in say may. when you actually go bc towards the end of the year it often does not get set up in time. That and the amount of bc's is, i would say causing a delay with yours being set up.

Is that any help?

AllNancy

A little.......... Dalip! I had a letter a while ago to say they had claimed the tax before the NT took place. If they give you a choice of payment does that mean you can pay so much per month as with IPO. Got one of those!

I have the money put to one side but for some reason never grasped this part of the bankruptcy.

They haven't asked for anything as yet.

Thanks

Nancy

dalip

I think they usually look at what you would normally pay per month and ask for that. It is only until the end of the tax year with which you went bc.

Seems strange they took your tax from before the NT was applied and wrote to tell you.Dx

AllNancy

Ours not to reason why.lol I didn't have to pay it so that's all that bothered me.

Thanks for your help Dalip.


Nancy

dalip

Just hang on to it a bit lnger but think it is unlikely they will ask for it now. Off to workbut will pm you later;)