www.iva.co.uk

If you go down the IVA route. Is your employer told ?

Hey Lindseyh, welcome to the forum. There would be no need for your employer to be told.

Hi Lindsyh and welcome from me too.

I agree with Viki. My employer has no idea I am in an IVA, and I have no intention of them finding out.

welcome....as far as we know no-one has tole our employers...
i wouldnt worry.....maybe experts have a different idea??

The other posters are correct - there is no need for an employer to be advised of an IVA unless they are a creditor.

What about in bankruptcy?

tax codes change to br or nil so there's the possibility, especially if you work for a smallish company

I know about the tax code but I also know there are many reasons why someone would be given a nil tax code. Would the OR notify my employer of my bankruptcy in any case?

No - there would be no need for the OR to notify your employer specifically about the bankrutpcy, but of course your payroll department would be advised of the nil tax code.

Hi,
Just curious what does nil tax code mean, do you not have to pay tax, sorry to sound thick do not no about this one

It means that you will pay no tax during the year you are made bankrupt until the end of the tax year - 5 April. But the equivalent that you would have paid to HMRC then has to be paid over to the Official Receiver for the benefit of your creditors.

Thanks Melanie, that is interesting did not know that, what other contributions do you have to make in bankruptcy.

In terms of what? Sorry I don't undertand the question.

Sorry! do you have to make any contribuitons throughtout your bankruptcy out of your income,

Hey Hillsy, have a look at Skippy's blog, she has put in a guideline table so you can see what you MIGHT have to pay. It's usually for three years.