NT Tax code, will it apply

standalone · 23 April 2015 at 5:51PM

Hi I was made bankrupt on 20 March 2015 and have had my meeting with the OR.
I was self employed and have informed the OR my self employment has ended as of the date of BR. That leaves me an income from a part time job I have paying me around £750.00 a month net.
My main question is will I get a NT tax code for my part time job considering my BR date was 20/03/2015 being so close to the end of the tax year.

Thanks.

fermi · 23 April 2015 at 5:55PM

NT code only applies for the tax year that you went BR in. Which was last tax year, not this.

So it would not apply to the new job past 5th April 2015, no matter what.

standalone · 23 April 2015 at 7:19PM

Many thanks for your reply.

I had been worried if the OR applied an NT code to my monthly income it may have pushed me over the £1000.00 I have calculated on my SOA on some months, resulting in an IPA being handed to me for 3 years.
Which leads on to another question.
If my BR was on the 20/03/15 and the new tax year runs from 05 Apr 15 to 05 Apr 16 and I am discharged one year on from 20/03/15 with no IPA in place and having paid tax under PAYE can I make a claim to recover my tax paid in the 2015 tax year at the end of this tax year, as I will not have exceeded my tax allowance during that year.
Thanks again.