Change of job with bankruptcy

MrCdfgs

I have just got a new job and will be one month away from bankruptcy discharge when it starts. I fully intend to inform the OR but was wondering:

As no IPA was made against me (I just pay the tax that was stopped on my salary) could an IPA now be made as there is an increase in my wages even though it is a month away from discharge?

Also, how does the OR know about a change of job if I wasn't to tell them? My final tax payment will be in March and then, if I hadn't changed jobs, it will just revert to my old tax code. So how would they know if I just made my final tax payment?

Cobalt77

You must legally notify the OR of any material change in circumstances within, I seem to recall, 21 days.

If you don't, this is pretty serious - especially as the OR will most likely receive some kind of notification from HMRC (assuming you are on PAYE)

An IPA can be made at ANY time while you are BR - even literally on the very last day. So, you could find your new job triggers an IPA which would be payable for another 2 years or so.

Personally, if it were me and I was certain the new job would trigger an IPA, I would delay my start date for 4 weeks by taking a "holiday".

Another thought would be to ensure my working hours at the new job were well below the level which would trigger an IPA for the first month (e.g. only work part-time for the first 4 weeks)

Whatever you do, be bl00.dy careful as a small slip could cost you shedloads of cash for the next 2 years!

HTH

MrCdfgs

Thanks. Is that 21 days of starting job?

luvchocolate

Hi an I.P.A lasts for 3 years so be very careful, but as said you are legally bound to inform your O.R within 21 days of any change.
I would say the change does not happen until your first day at your new job, timing is important here..good luck

tigerfeet2006

If you know what your monthly wage will be then why not pop up your SoA as it is now with the new wage and some one can check that you have thought of everything.

http://www.stoozing.com/calculator/soa.php