ChatterBank3 mins ago
Bankruptcy - nil tax code changes back for new financial year
2 Answers
The last payment for tax �168 & bankruptcy �94 was taken out my acc 10th Mar 08, end of the financial year. In April I only pay the bankruptcy amount.
I get paid at the end of the mth (so Feb's pay covers Mar's bills) so Feb's pay covered Mar's two amounts. Mar's pay covers �94 only. In April I am taken off of nil tax and given a code, so the �168 goes to the tax people. Thereafter only �94 is due to be paid.
What happens to the �168 from Mar's pay?
I get paid at the end of the mth (so Feb's pay covers Mar's bills) so Feb's pay covered Mar's two amounts. Mar's pay covers �94 only. In April I am taken off of nil tax and given a code, so the �168 goes to the tax people. Thereafter only �94 is due to be paid.
What happens to the �168 from Mar's pay?
Answers
Best Answer
No best answer has yet been selected by giggles321. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Your nil tax code applies up to the end of the tax year - i.e. 5th April. So your March pay will not have any tax deducted from it. So the �168 for March has to be paid over, along with the �94 for March. In other words, you have to pay over �168 for each of of the months when no tax has been deducted from your pay, & that includes March.
If the Official Receiver (or their agent) has told you anything different, then I think they have made an error. You need to check with them.
If the Official Receiver (or their agent) has told you anything different, then I think they have made an error. You need to check with them.
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