tax code and employer

stevelo

I was on the understanding that my employer would not be told that I made myself bankrupt but since been told that whilst bankrupt my tax code will change to NT I work for a small family firm so that will mean they will find out I am bankrupt is this correct??

Momofthree_2

I think there are a range of reasons you could be put on an NT tax code. No just for bankruptcy.

I declared BR in feb and mine hasnt been changed due to being so late in tax year. When did you declare?

TheGardener

The OR can only place a NT code on your salary in the financial year that you go BR - so if you were made BR recently - in 2018/19. So there is a very high chance that you wont get one - there is no time to implement it before the end of the current tax year which is at the end of this month. You will continue to pay tax normally from the start of the new tax year.

There are of course other reasons why people get NT codes but in a small business its unlikely you are going to be able to avoid them guessing. Anyways - fingers crossed you are too late for a NT code for this year.

stevelo

I was declared br 5th march. got my interview on Thursday

TheGardener

I reckon you'll be fine, it would be almost unheard of for an NT code to be applied with only 1 payday left in the financial year. Fingers crossed for you.