Bankruptcy/IPA/NT tax

3 Posts

Hey guys,
Been looking over this forum for a long time and have a question I couldn't find the answer too,
I've been made bankrupt in July this year, issued with a NT tax code in October and currently not paying tax on my wages. My income expenditure form was submitted and I am still paying over what I earn to live basically even with the NT tax code. I had an email from the OR saying I will not have to pay an IPA currently. I do not own a house I'm currently renting in a full time job. Once this tax year is over I assume I'll be put onto a standard tax code again where I will be in a shortfall and will rely on parents to help me with that. My question is will the OR write to me saying I owe them the money from tax or has it been agreed that I'm allowed to use that to live currently? My situation is not changing anytime soon.
Thanks guys
Been looking over this forum for a long time and have a question I couldn't find the answer too,
I've been made bankrupt in July this year, issued with a NT tax code in October and currently not paying tax on my wages. My income expenditure form was submitted and I am still paying over what I earn to live basically even with the NT tax code. I had an email from the OR saying I will not have to pay an IPA currently. I do not own a house I'm currently renting in a full time job. Once this tax year is over I assume I'll be put onto a standard tax code again where I will be in a shortfall and will rely on parents to help me with that. My question is will the OR write to me saying I owe them the money from tax or has it been agreed that I'm allowed to use that to live currently? My situation is not changing anytime soon.
Thanks guys
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some people have been allowed to keep the tax if on a very low income but this should be made clear from your OR
Thanks for the reply. My income is not very low but due to where I work and live (London area) it is a bit more expensive than up north. My income currently is around £2400 on the NT tax code and currently spending £2450 to live. The OR knows this and has accepted saying an IPA wkll not be needed currently. I was just wondering if after the new tax year I will be hit with a heavy council tax bill and PAYE tax bill for £4000 for example?
Thanks
Is there anywhere online which states this just so I can make sure? Getting very worried the more I look into it!
Surely you need to review all of the expenditure outlay, otherwise you'll be in the same problem in a couple of years? or have i misunderstood something here