Zero tax code confirmed - now what?

sfjnet

Hi, After many months of waiting the Inland Revenue have finally confirmed that my tax code is 0 which means that I will have an extra £496 in my pay packet which (I assume) I need to send to Moon Beever. Can anyone advise on the procedure? Do I send them my pay slip as normal and wait for them to reply with details, or just send the money in straight away? Also, what happens if I can't send a cheque (no cheque book since bankruptcy obviously)? Any expertise would be gratefully received.

alastairq

Can anyone advise on the procedure? Do I send them my pay slip as normal and wait for them to reply with details, or just send the money in straight away? Also, what happens if I can't send a cheque (no cheque book since bankruptcy obviously)? Any expertise would be gratefully received.

Send payslips to Mooningbeevers....they will calculate how much IPA you need to send them.....[which is for the duration of the NT code]...[I assume they have contacted you already, regarding payslips?]

In the meantime, put aside the amount you would normally pay in PAYE tax....maybe earn a little interest too?

Moonbeever will notify you of how much, and when, the amounts need to reach their accounts.

This is subject to some negotiated flexibility.

[I negotiated a change of pay date, to co-incide with the receipt of my monthly salary]

Which bank are you currently with?

I was, and am, with Co-op.[Cashminder]....and have full online banking facilities.

Moonbeever will tell you what their holding account number, and sort code is......and [in my case] I paid online, as a bill....simply because mine varied from month to month, depending on what overtime I had worked.

Be warned, Moonbeever may change their account details after a few months.....


They will also include payment methods in the pack they send you...but online is simplest and easiest.

so

If you haven't yet got a Co-op Cashminder account, now is the time to apply, eh?

mandrake75

I received my nil tax code a couple of days ago
I'd already paid one month of an IPA to Moonbeever so i went in to the bank and simply increased the amount I had to pay on the standing order. They had already given me the figure i had to pay (once the no-tax kicked in) in the first paperwork i received from them so might be worth going through and checking the original paperwork they sent to see if the details are there
PS - i got some extra money this month as a one-off bit of overtime so i rang the OR - they said just send Moonbeever the payslip and they'll let me know if they want it. Thought i'd throw that in in case anything similar arises in the future

Take care

alastairq

point to note [ref mandrake's experience].... the initial figure given by moonbeever is really just an estimate....

Once they receive the first pay slip [showing the NT code] they will give a revised figure.

It is best not to pay anything until Moonbeever have seen that first NT payslip...otherwise, they might come back and demand a bit more..which might be a surprise?


As Mandrake did, so I too paid a standing order for the first basic amount [once they'd seen the NT wageslip]...simply doing a calculation to see what additional amount I'd owe if overtime had kicked in.

Sometimes the clerk at Moonbeever did it for me..but mostly, they gave me a total amount to pay....and I subtracted what had already gone through the standing order.



Another point to note, Moonbeever are quite flexible concerning when payment is received......if a payment is due into their account, say, at the 1st of the month, they are chilled for about 3 weeks before they send a reminder.

Also, when paying by SO or online, ensure you use the correct reference numbers Moonbeever give you, for the account, etc.

This is so they can track your payments within the account...especially if you send more than one every month.

It is best to leave it to moonbeever to work out what to pay...I lost a lot of hair trying to do my own calculations...