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Nil Tax code
Bald_Runner
Posts: 80 Forumite
I read a leaflet about IPA/IPO and it mentioned being put onto a 'Nil Tax code'. As I am working full time, what does that mean to me in lay persons terms? Will it affect me in the future?
In the beginning, there was nothing.
The Lord said "Let there be light".
There was still nothing, but you could see it.
The Lord said "Let there be light".
There was still nothing, but you could see it.
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It means that you do not pay any tax through PAYE for up to a year - you pay what you would have paid in tax directly to the OR instead. Or at least thats what I've gleaned from my previous lurking on here!BSC member 131 :j Now bring me that horizon...
Misery likes company - that's why we're all on here :beer:0 -
Hi,
It means that the money you normally pay to the tax man goes to the OR instead. If you go BR before April 5th you wont get one, if you go BR after that date then the NT tax code will last until the end of the tax year or until you change employer, whichever the sooner.
The amount of money you get from your employment will not change. An NT tax code has no other effect.
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
When were you made BR? If it was just recently then if they haven't already put you on a nil tax code it is unlikely they will. It should end with the new tax year. I dont' know what long term implications it will have but don't think there will be any.
I'm just wondering if I go BR before the end of this tax year if that will prevent being put on one since it will then run into another tax year. Anyone know the answer to that?
:j :j
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Thanks DD, thats just what I was hoping!
BAld Runner - what service you got there, 3 replies all at the same time!
:j :j
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Ooh - I went BR on 14/3 - does that mean I won't get one? Thats probably a good thing as seeing my gross wage going into my bank account but still not being able to spend a huge chunk of it would depress me more than seeing my payslip does.BSC member 131 :j Now bring me that horizon...
Misery likes company - that's why we're all on here :beer:0 -
Thanks all. My appointment at the CC is 9th April....In the beginning, there was nothing.
The Lord said "Let there be light".
There was still nothing, but you could see it.0 -
Ooh, it looks as if you will be on nil tax code for the whole year or until you change jobs.
:j :j
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sparrabeth wrote: »Ooh - I went BR on 14/3 - does that mean I won't get one? Thats probably a good thing as seeing my gross wage going into my bank account but still not being able to spend a huge chunk of it would depress me more than seeing my payslip does.
It looks like you won't get one! I know what you mean about all that money going into account and not being able to use it. What you don't have you don't miss.:rolleyes:
:j :j
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