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Undischarged bankrupt & tax codes
Mike_F_2
Posts: 2 Newbie
Hi, can anyone provide advice on my tax coding....
Previously self employed I was adjudged bankrupt in July.. Claimed JSA until I started paid employment in October.
My P45 from the DWP shows my current tax coding as NT. Before my bankruptcy Tax Aid told me to ensure if I started a new job to make sure I was put on a M1, monthly tax code. I've spoken to my employer who was going to use the NT code, but now says he can use the standard 1060 code. I've spoken to HMRC who said they cannot advise until after a month and when I have my paroll number and first wage slip.
Well confused, I know I shouldn't be on NT and can't understand why HMRC couldn't authorise the monthly tax code...
Certainly don't want an immediate IPA based on the NT tax coding...
Previously self employed I was adjudged bankrupt in July.. Claimed JSA until I started paid employment in October.
My P45 from the DWP shows my current tax coding as NT. Before my bankruptcy Tax Aid told me to ensure if I started a new job to make sure I was put on a M1, monthly tax code. I've spoken to my employer who was going to use the NT code, but now says he can use the standard 1060 code. I've spoken to HMRC who said they cannot advise until after a month and when I have my paroll number and first wage slip.
Well confused, I know I shouldn't be on NT and can't understand why HMRC couldn't authorise the monthly tax code...
Certainly don't want an immediate IPA based on the NT tax coding...
0
Comments
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Hi Mike
The change in income source brought about by your new job should indeed mean that the current nil tax code is stopped. M1 is an emergency tax code but would still take your personal allowance into account in the same way as a regular 1060L code.
If you're concerned, I think the best thing you can do is to speak to your Official Receiver's office for reassurance.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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