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 Income Payments Agreements, Income Payments Orders
 Income Payments Agreements
 IPA, received tax return???
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removingtheshackles
Starting Member



9 Posts

Posted - 31 October 2011 :  13:47:38  Show Profile  Reply with Quote
Hello all, I was made bankrupt in April 2010 and have been making IPA payments since August 2010. I was also subject to a NT tax code until April 2011 which I paid to my IPA. For the tax year April 2010 to April 2011 I have received a tax return form which I am required to complete. I have always been employed (never self employed) and paid tax through PAYE. I also have no assets or other income so I don't understand why I've received it. When I rang HMRC I asked whether it was to do with the bankruptcy and they said it was. Has anyone else experienced this? Also, another issue which I may need to post separately, it's my understanding that the way IPAs are calculated were changed effective from 1st December 2010, where 100% of any surplus income >£20 is to be paid into an IPA. As I was assessed on the 'old' calculation would any variation in payments also be calculated on the 'old' system? Any advice gratefully received as I my surplus income has increased and I'm in the process of notifying the OR.

Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 31 October 2011 :  14:07:18  Show Profile  Reply with Quote
The tax return is normal so don't worry.

I believe you will be assessed under the old rules.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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