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Hi all,

Not been on here for a while but long story short,I was finally declared bankrupt in May 2010 & was discharged early at the beginning of Dec' 2010.

 

As part of my bankruptcy I was put on a "nil tax" code & the money I was paying in tax has been getting paid to the OR's agent via direct debit,the last payment is due in March 2011.

 

Questions,

 

1) Now that I have been discharged would there be any comeback on me if I were to get a pay rise &/or a large bonus payment in the near future?.

 

2) If I was to be paid a large bonus in a lump sum before my tax code was reinstated would I be liable to repay the tax amount when my tax code does get reinstated?.

 

3) If I was to get a pay rise before my tax code was reinstated would I be liable to repay the tax amount when my tax code does get reinstated?.

 

4) The tax amount I am paying to the OR's agent is a fixed amount & is what I would usually pay in tax on my basic salary,if I were to get any bonus payments made to me during my nil tax code period but continue to only pay the fixed amount would I be liable to repay the amount I would have been taxed on the bonus payments when my tax code does get reinstated?.

 

Regards

 

KEF

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if your tax amount goes up due to pay rise or bonus, you need to tell moon beever and you will pay a higher amount to moonbeever, you will not need to pay anything back to HMRC later

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