Jobs & Education1 min 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
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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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