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Hi everyone,
I am looking to declare myself bankrupt, and I have recently read that once declared bankrupt your tax code gets changed to nil for the rest of the tax year.
My problem with that is that I work for my parents and I have not told them that I am declaring myself bankrupt (and neither do I wish for them to find out). Obviously if they get advised to change my tax code, they are going to wonder why, and they will not hesitate to ask me the reason behind this.
Does anybody know if there's any way to avoid getting my tax code changed? I read that if it is quite close to the end of the tax year they usually dont bother, however I intend to file for bankruptcy at the end of this month (january), so I'm guessing they'll probably still do it?
Any help you can give would be greatly appreciated

Thanks

D

There is little way to avoid this, to be frank, but if you could time the bankruptcy application to say mid to end March, then I can't see the OR bothering to make an application that late on in the tax year.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

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I agree with Melanie. I went BR at the end of March last year and I never got a nil tax code as there wasn't time to implement it before the new tax year.

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