fluctuating income and other questions

cam6278

Ive opened the ybs one with no problems and have set up a SO so happy with that. This will be used for yearly costs, prescriptions and emerency fund.

I have decided to get a sainsbury gift card and load it each month, my mum gets discount so will be shopping with her.

Now im going to wait for things to settle for a couple of months, see where i can cut costs etc

Very relieved it is sorted and i can start looking forwards.

Does anyone know how quickly the income tax and council tax are collected ?

alastairq

Does anyone know how quickly the income tax and council tax are collected ?

Not too sure what is meant by the question?

However, a punt, to be going on with.

Income tax [I assume PAYE?] is deducted as normal, until HMRC get around to issuing a Nil Tax code. Once that is in place, the recipient receives Gross pay[less NI, etc]...and a Nil TAx IPA is set up by the OR's representatives. Sometimes wage slips are needed if income fluctuates. The OR will either establish a fixed payment for the duration of the NT code....or , a fixed payment, followed by a balance if income is higher than estimated. This can take some time to set up.....so, from the first date of issue of the NT code, simply put the amount normally paid in tax, aside...until one receives the payment information from the OR's representative.

Council tax is paid as per normal...if there is an overpayment, then eventually the Council will make you a refund [hopefully after Discharge?]......{ I received refunds from both Council, AND from the OR for overpayment of NT IPA.....how they arrived at that conclusion, I have yet to work out... ]

cam6278

Ok. Well she said that my council tax i currently pay will also be collected along with the paye . Im paying monthly for that and have never been in arrears... Suppose i will find out a bit more when i recieve all the paperwork

tigerfeet2006

That is correct Cam.

It is very recent change and seems to be rolling out slowly across the country.