| T O P I C R E V I E W |
| Lloyd.mm |
Posted - 17 March 2012 : 20:45:01
Hi, I was made bankrupt in the Decemeber 2009. As a result i did not pay tax in Febuary and March of 2010 as my tax code was put as 'NT'. I have now received a letter from HMRC saying i owe them tax from this tax year. Is this correct, as i thought if you are made bankrupt you do not have to pay tax for the remainder of the tax year. |
| 7 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 18 March 2012 : 11:05:27
Thanks debtinfo!!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| debtinfo |
Posted - 18 March 2012 : 10:03:16
the money the bankrupt receives is not tax, it is surplus income that arrises by being on a NT code, which is different and an important distinction as because it is not tax then HMRC have no call on it, it may (and usually is)payable as surplus income to the OR but only on agreement and signature of an NT IPA which it is the OR's job to ask for. They will normally do that but sometimes if the amount is small or near to the end of the tax year then the OR may not bother |
| Niobe |
Posted - 18 March 2012 : 09:53:10
Should this not have been paid to the OR though? I thought if you had a nil tax code that you had to pay your tax across.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| debtinfo |
Posted - 18 March 2012 : 08:23:11
you wont be liable for any tax from the 2009/2010 tax year, it is more likely that the letter from the tax man is simply part of the millions of people who were worked out incorrectly, write back and tell them that any claim for tax in 2009/2010 is a debt in your bankruptcy |
| Niobe |
Posted - 17 March 2012 : 23:05:51
Hi,
I believe that you will be liable for this tax. Just because it says nil tax it does not mean that you do not have to pay this across to the OR.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| Lloyd.mm |
Posted - 17 March 2012 : 21:20:26
I have not paid the tax to anyone, nobody asked for it.
|
| Skippy |
Posted - 17 March 2012 : 21:18:40
Hi and welcome to the forum. Did you pay your tax across the OR?
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
