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Help...'Nil tax' code advice...please!
tjh276m
Posts: 2 Newbie
Hi - I am around 3 weeks away from discharge of my bankruptcy. After going bankrupt (June 2010) and completing all the relevant forms I had no surplus income - so was not required to pay monthly towards my debts. However, a Nil Tax Code has been applied - I was notified of this by the Inland Revenue directly. I had changed jobs by this point (Sept 2010) plus I began to do some self-employed work too in August. I have paid tax to the revenue throughout this tax year as the nil rate has NOT been applied either my previous or new employers. I have to date received no paperwork regarding this from the Official Receivers, as a result I have several major questions;
1) Will this issue be resolved when I complete self-assessment forms?
2) If so how - will I receive a tax refund from the Revenue and then be required to pay the Official Receivers or will this go straight to the them?
3) Will I have to forward tax due to the Official Receiver on all income for the tax year or only income generated from the employer I was working for at the time of the bankruptcy?
Any advice would be much appreciated
1) Will this issue be resolved when I complete self-assessment forms?
2) If so how - will I receive a tax refund from the Revenue and then be required to pay the Official Receivers or will this go straight to the them?
3) Will I have to forward tax due to the Official Receiver on all income for the tax year or only income generated from the employer I was working for at the time of the bankruptcy?
Any advice would be much appreciated
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Comments
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Your post is confusing, first you say a Nil Tax Code has been applied, then you say the nil rate has NOT been applied, could you be a bit clearerHi, 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.0 -
Nil Tax Code onlys last for the current tax year or until your change employment. As you went BR in June and then changed jobs in September, I suspect your new employment meant the NT tax code was cancelled0
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Your post is confusing, first you say a Nil Tax Code has been applied, then you say the nil rate has NOT been applied, could you be a bit clearer
Yep - here goes - I rec'd a letter from the revenue to say they had changed my tax code to NIL TAX - but I have not actually had any tax deducted from my income, by either my previous or current employer!
I have since had a letter from the revenue to state that my tax code would change - back to my usual code - as from the new tax year.
As I said before I have had no contact regarding this from the Official Receiver & am due to complete my self-assessment for 2009/10 tax year soon.
Hope this is a little clearer and you or anyone else can offer any advice.0
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