Discussions on life after your bankruptcy discharge.

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By debs
#83630 Hello everyone
I went bankrupt in aug last year and received early discharge in april 06.
I received a tax assesment form from the Inland revenue which I completed and returned in April I think but I still have a NT tax code has this happened to anyone else? also I ticked the box that stated if any tax was due (which I know it is) I would like to pay it back over the rest of the financial year any ideas on what percentage they would take.
Regards Deb.
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By Ransid
#83638 Defintiely looks like an error at IR or your employer.

Write to IR and raise a query with them saying you thought your NT would stop at the end of 2005/6.

I'd recommend this because I'm aware of it happening to someone else and when they discovered their error they sought to claw back all the unpaid tax in that years tax code so suddenly their take home wages dropped like a stone.

Being up front gives you some better chance of them sliding it over into next year ... hopefully gets it dealt with earlier so less to pay back (I'd be putting the money aside now anyway - to cover you if they do start taking it back
By debs
#83689 Thanks for the reply Ransid. I do remember there being a query with the amount of tax paid on my p60 and the tax paid to date on my last payslip prior to the NT code being applied perhaps that is what is delaying it, i'm sure it has something to do with my employers rather than IR but I will do as you suggest and drop them a line.
Thanks again