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Posted: Mon Dec 19, 2011 10:52 am
by xxxxx78
If you are declared bankrupt do you pay tax as nil rate? How is this worked out via the OR and HMRC
Posted: Mon Dec 19, 2011 11:15 am
by kallis3
Hi,
You will normally get a nil tax code for the remainder of that tax year. The tax that you would have paid remains on your salary and you have to pay it to to the Official Receiver or their agents. Once the new tax year starts then you revert back to normal.
Posted: Sun Dec 25, 2011 6:58 am
by Pauld172
merry xmas jan!
quick question - i still havent been informed by the OR how to pay my tax over? is this normal? i would have assumed they would give me bank details to set up a dd??
Posted: Sun Dec 25, 2011 7:43 am
by kallis3
Merry Christmas to you as well Paul.
The OR will probably appoint Moon Beaver to collect your tax and any IPA you have been given.
I'd give the OR a ring after Christmas and ask what is happening.