Nil tax code

alltaken

Joemac2016 wrote: »

Suppose your right. Maybe I should do it this month and be done with it.

Hopefully the local tax office takes its time issuing nil tax code to my work

Il contact nationwide on Monday to see what they say about the flex basic account. Need to get things organised ASAP

It's a process and a solution that is available. Remember that and the stigma disappears. Myself, I was told both at the court by the clerk that it's the right thing to do and move on with my life far less stressed! My OR said the same.

If your work find out, they find out and you can't control it. Just be confident knowing you're debt free and it was a financial solution, not a criminal conviction. Tell people whatever you need to, but be as confident and accepting as you can be about the next short 12 months.

Joemac2016

best advice I have heard yet mate. Thanks

VelvetBrown

I declared bankruptcy in October and it took HMRC just over two months to issue me with a nil tax code.

I agree about the bank account, it's so much easier to set one up beforehand, I went with Barclays and they've been fine, no mobile banking app but I can do everything I need to online.

Good luck with it!

Joemac2016

I have my largest debt with Barclays although I have heard it doesn't matter as they will still open a basic account. Should I tell them I will be declaring BR and that's the reason for me opening it or should I open it and then see what happens when they find out from OR?

The local CAB said you are better doing it straight after declaring but it leaves it very tight time wise to get everything sorted

luvchocolate

on this forum we always suggest getting the bank acc up and running before as we have all said its in the planning and makes the whole process less stressful.
I went with the co op no problems at all

Abitdown

Interestingly, Barclay's have just randomly cancelled the 3 DDs I set up on my new basic account post bankruptcy. Is that normal practice even though the OR has sent them a letter saying they have no interest in the account?

abcdave

Joemac2016 wrote: »

The local CAB said you are better doing it straight after declaring but it leaves it very tight time wise to get everything sorted

Don't rush it. If you are declaring yourself then you have no particular hurry. Get that account set up and get all your direct debits swapped over. That way you can identify that account to the OR and explain its use. It really takes the edge off if you have your sh*t together

I went with the co-op cashminder account. Full mobile and internet banking. It took a couple of weeks before I had the account operational (you have to make the application by post) There is only one branch in NI and I've yet to need visit it.

As for letters from the OR.. They are all different but mine contacted my creditors only. Not my employer, landlord or anyone else for that matter

TheGardener

Joemac2016 wrote: »

...
The local CAB said you are better doing it straight after declaring but it leaves it very tight time wise to get everything sorted

My experience with my local CAB was not good - in fact the individual I spoke to got it SO wrong I have considered volunteering for them in future based on the knowledge I have accumulated during the BR process. CAB are a wonderful resource but rely on the expertise of the people they have - our local office are well regarded for their knowledge around housing and employment law - I suppose they can't be experts in everything.
My advice is get an account or two set up before BR and move essential DD's and income before. Planning is the key to a feeling in control of your finances. The co-op is a tried and tested way to go although others on this forum are now saying other banks will open basic accounts - it takes time for these new laws to filter through to frontline staff.

Banquo21

elljay wrote: »

Yes, I definitely agree about taking time to make sure you've covered everything, I sorted out a Co-op Cashminder account a good few months before going BR, so I could ensure all DDs, pay etc had the new details.

I went BR in the Sept, my IPA started in Dec but they never did get round to changing the tax code by the following April. Just depends how efficient everyone is.

My boss found out via google as previously mentioned - she was just checking my postcode for her own records, nothing else, and the Gazette entry was top of the list of results. Although nothing was in my contract, bit by bit the gossiping (she has no concept of confidentiality!!), being taken off various duties etc so that I ended with nearly no job at all, made life impossible so I left. To their relief!!! I was definitely made to feel like a criminal. I had to leave my other job, nothing again in the contract, but because I found out myself that the community organisation's insurance would be invalid if anyone working there was bankrupt. Luckily there's plenty more work out there for a multitasking portfolio worker like me!!!

Good luck with whatever you decide to do, but do get the bank account sorted, that's so important. I'd still be inclined to stick with the Co-op beforehand, to give yourself time to sort your dd's etc. Just until the new accounts are bedded in a bit. I found it takes a month or so to do as you have to do the dd's manually, the Cashminder account didn't provide an automatic changeover service as more 'regular' bank accounts do so I did them one by one.

EJ

Is this true for every bankruptcy? I googled my postcode and all that was brought up in the first 5 or so pages (I didn't check beyond that) was house prices and zoopla entries. I also googled my name and again my Facebook profile popped up around page 2. I don't have a common name either.

Maybe you were just unlucky, but in my experience you really have to know what you are looking for, for your details to appear on Google's first page of search results.

elljay

I'm afraid I have no idea if it applies to everyone or not. I have a fairly high profile in the local community and strongly believe that someone has been clicking on the link to keep my details to the top. (I know who you are Mrs B!!!) I just put my surname and the first line of my address in and up it came. Then followed several pages of my details from non-gazette activities.

However.....I have just checked again and yippee, it's all different. 2 pages of my details relating to my community activities appear and I haven't looked beyond that - not many people would. I was discharged last September and the Gazette says that bit by bit search engines will be asked to drop your details from a search after the 'discharge plus 3 month' point and this has obviously happened!

Really happy, I am now going to start job hunting again. The lack of privacy was the really awful thing about being bankrupt, I felt despairing and soooo depressed about it, many times not wanting to put my head out of doors. But now things will start to look up I'm sure.

Good luck everyone - EJ