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Tax & Bankruptcy
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kevker23
Posts: 51 Forumite
I was declared bankrupt on 06/03/23. If understand correctly, it's only for the tax year that you are declared bankrupt in that the OR can apply the tax code to recover tax you normally pay. So am I correct in thinking that this won't happen to me as it happened right at the end of the financial year? not sure I've explained that very well but you get the drift.
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Yes you’re correct. HMRV applies a nil tax code until the end of that financial year.1
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