discharged

crum

Well..I've never know anything like this bankruptcy malarky!
5 months & I'm discharged??

But my question is...what freedom does this actually give me? My letter states I still have to comply with certain sections in certain acts..?

So what are my boundaries?

Thanks in advance.

Bread Crum

brighter_side_of_life

Hi crum :hello:

Hey - well done on your discharge! :T :beer:

I must say that was quick! Although there have been some posts on here with a similiar situation to yours.

Not sure what the restrictions are but hang on in there as someone will be along with some help and advice.

x

nervousmother

congratulations...
if you win the lottery you can keep it
you can act as a director

if you have assets you still have to deal with the OR
if they ask you anything you still have to reply

You can get credit over £500 and not tell them your BR (well actually your credit record is shot for the next 5 years and 7 months)

But now you can move on, if you dont have a IPA you cant get one now.

crum

i have nil tax coding so does that still continue?? coz i have to send my payslips to moonbeaver each month??

biscuit crum

nervousmother

yes crum, that will continute until either you start a new job or the end of this financial tax year.

crum

sorry guys another Q..

i have theopportunity of doing a lot of o/t but hesitating to put forward coz i don't want it to struff me over. is it better to wait until the dealing with moon beever is over?

thanks so much

nervousmother

what you mean dealing with over? you mean next april?
what ever way you go you will still have to pay the tax either to the IR or moonbeever so i dont see how it can make any difference.
If you have a IPA you will have to let the OR know.. if not then a good chance for some extra cash..

alastairq

crum will have an IPA, as crum is on NT....so crum will pay NT IPA to mooningbeevers.

As I doubt the overtime will wait until next April....crum is probably as well off doing the o/time...moonybeevers will work out the temporary increase in NT IPA...but it really is doubtful the OR will suddenly decide this is the new, regular level of income, and impose a surplus IPA as a result...mine didn't.

so crum..goforit.

fiveyearplan

If crum doesn't have a surplus IPA then it makes no difference whether he pays more money on his NT IPA as even if he didn't have a NT code he would still be paying more tax if his income went up.

alastairq

yup...nothing lost then...