How long for Nil Tax Code to take effect?

jennie65

Just been informed by my boss that i now get a nil tax code. I went bankrupt 15th April 2009. I didnt even know this would happen til now. Not sure it is very welcome as now have to go through all the pain if informing tax credits and housing benefit offices, and as happened with my pay rise they will both probably take far more than the nil tax is worth and i will end up worse off again. tis so annoying had just got used to the amount i had coming in and now it all changes again, seems pointless when TC and HB will just make there own deductions as they will see it as an increase in my income.

tigerfeet2006

Why do you have to inform tax credits and HB? Your income hasn't increased, the extra money in your wages is paid to the OR's agents, a firm called MoonBeever. Don't spend it and put it to one side, they will contact you to set up a DD.

jennie65

really, omg, thats really complicated, why was i not told this would happen, the OR said i would not hear from them again. and whot are moonbeever exactly

jennie65

no IPA or IPO was ever set up, i wasnt even required to go for interview, just told not to take out more debts and would be automatically discharged in 12 months. So not sure what all this is about. I cant exactly keep money to one side have nowhere to put it - a bit ltd in the bank account department.

lifebeginsagain

Jennie, sorry I posted on your thread to see when you went BR and I've since seen it here.

Do you bank with co-op? if so they will happily open a second account for you which you could use to put the tax into.