Hi everyone, I have just had my salary slip and money in my bank on nil tax code so got about £300 pounds extra. I know I have got to keep this money aside. I currently pay an IPA to Moonbeever and I presume they will now add this to my monthly payment. I have been sending my monthly wageslips every month for them to see that my tax code had not changed. Now it has, if it takes 2 or 3 weeks to adjust my standing order how does it work? Do I need to make sure I keep that money that would normally go on tax in bank and they take two payments in one? as by the time bank sorted standing order next payment due? Also, I just had letter saying that my file has now been passed to RTLU. I am on an IPA but think this probably means case straight forward? Am I likely for early discharge?
Give Moonbeever a call and see how they want you to pay the additional amount. You could make a one-off payment for this month's extra money and then include it in the IPA amount from next month. I did a one-off payment for my 1st IPA payment and then have a STO that comes out on the 1st of each of the following months.
The other option is to set up an extra STO for the money from the NT Tax code. This would probably be my choice as you would only be paying the NT Tax amount until April 2010 so you could set up the new STO to expire then and the IPA STO would continue for another 2 yrs or so.
If your file has been passed to the RTLU then it can mean that you will get an ED but it isn't always the case.
Thanks Getting Out of Debt. I presume they will work out an average payment for my tax as my salary fluctuates slightly depending on how many "On Call" I do which attracts £5 per night so not massive difference but can make £30 or £40 difference a month.
Nil Tax Code
Posted - 23 August 2009 : 21:28:51
