I'm much better off bankrupt 0% Income Tax

jason909

So I waited 5 weeks after my telephone interview for my outcome letter on if I need to pay anything back. On average I pay around £650 per month income tax from my wages, on the letter it said I no longer will be paying tax until April 2016 and therefore they have instructed my tax code to change to NIL TAX CODE , however I will need to pay £201 to the agency working on behalf of the Insolvency Service.

So that's me £450 per month better off until April. Plus my disability benefits have not been effected and they have allowed all my spare income to be used towards making me better and help with my disability.

They have been very supportive with things, I've been honest with everything to do with my income and benefits.

debtinfo

Hi Jason, i see in another thread that you have a take home income of around £1350pm, is that correct and does that really equate to tax of £650pm as that seems to not quite add up

dojoman

As DI says your figures cannot be right, you need to look at them again. Are ypu sure the 201 is for the NT?

London_Ash

That is a whopping amount of tax.

owlet

Could it be that the OP was paying back tax owed as well as normal tax?

jason909

Large amounts of overtime which I have told them about. Hope that clarifies.

queensland

When my tax code was changed to Nil I was advised to save the amount asi would be asked for it back. Is the £201 an IPA?

dojoman

jason909 wrote: »

Large amounts of overtime which I have told them about. Hope that clarifies.

This can`t be right, there is no way you would be paying 650 pounds tax on a take home pay of 1350. And why would you be better off until April, if you were earning enough to pay this tax then the excess would be taken in an IPA??????