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Nil Tax Code

2

Comments

  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Go and have a drink in the inn - not much thinking goes on in there!

    :j :j


  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    remember though...depending on when you went BR its NOT always a guarantee you receive an NT coding
    We all die. The goal isn't to live forever, the goal is to create something that will
  • script
    script Posts: 718 Forumite
    By the way is it always Moon Beaver that collects it?

    Or might they ask it to be paid to the OR or the RTLU?
  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    No it'll always be Moon Beaver....the OR pays a fee to them for management of IPA's
    We all die. The goal isn't to live forever, the goal is to create something that will
  • Feelingfoolish_3
    Feelingfoolish_3 Posts: 263 Forumite
    I told the examiner the tax i pay based on my pay slip from work. She then said you pay 85% of this and worked it out for me. I have had written notification today to say how much they will be taking based on what I told them I usually pay in tax. Straight forward for me as I am paid the same each month.
    I was told the agents will be in touch with me re how they will collect it.

    This seems to have gone through very quickly as I was bankrupt just over 2 weeks ago, OR interview on Wednesday and now this. Very efficient
    :o BR 12th August 2009 :o
    :T ED 11th June 2010 :T
    BSC Member 283
  • script
    script Posts: 718 Forumite
    Again, many thanks everyone
  • Madmonk
    Madmonk Posts: 507 Forumite
    I still have my £600 sitting in my account - they still haven't asked for it, 7 weeks till ad

    (i thought I'd just pop up from the naughty corner and let you know lol!;))
  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    Madmonk wrote: »
    I still have my £600 sitting in my account - they still haven't asked for it, 7 weeks till ad

    (i thought I'd just pop up from the naughty corner and let you know lol!;))

    shame on you!!!!! :p
    We all die. The goal isn't to live forever, the goal is to create something that will
  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Madmonk wrote: »
    I still have my £600 sitting in my account - they still haven't asked for it, 7 weeks till ad

    (i thought I'd just pop up from the naughty corner and let you know lol!;))

    Sshh! don't let anyone hear you say that. Roll on 7 weeks!

    :j :j


  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Hi, just a few thoughts.

    Normally they will take an average of your last 3 payslips, if this is not appropriate then it is ((gross pay -(Personal allowance about £6400/12)) x 0.2) for people in the lower tax bracket.

    It is always collected by moonbeever

    it is 100% not 85% of your tax

    The only time they would take less is if you suffered from severe hardship which almost never happens
    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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