NI payments

horrace

When I go bankrupt and my tax stops getting deducted from my wages.
What happens to my NI contributions. Will those deductions get stopped or do they continue as normal.

battyboimatt

Horrace,

As far as I know, you have to keep it spare and pay moonbeaver who collect it, then the year after your tax code will change back to normal.

horrace

I am aware thats what happens with the tax. It's the NI contributions I am worried about.
If those stop going to NI and I lose my job next year I won't be entitled to many benefits.

dojoman

It is only your tax that is affected.

battyboimatt

Sorry Norrice i misread, yes your NINO should be fine, its just the tax sorry for the confusion

Ineedaname

What actually happens is that your employer will receive a Nil Tax coding notice and apply that when they make up your wages. They'll continue to deduct NI as normal.

You save what you would have paid in tax and then pay that over to Moonbeever.

horrace

Perfect
Thanks

horrace

I rang the Nat Insurance helpline 0845 300 627.
They said if the OR tell them to stop deductions they will.
I take it from the above comments that this dosen't often happen

Ineedaname

I've never heard of NI deductions being stopped during BR. It is your employers' legal duty to deduct NI from your wages and I can't think of a reason any OR would want to over ride that.

alastairq

perhaps the NAt Insurance call centre person thought the OP was referring to a company liquidation?

debtinfo

or the Nat Ins person didnt know what they are talking about

NI is collected as normal