www.iva.co.uk

Was just wondering if the OR is likely to tell our employer that we have been made bankrupt...we both work for the Local Authority...not in finance though!

Thanks
Michelle[:I]

Hi
Not directly
There will be a small advert in the local paper.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Thanks - yes I'm aware of the advert...just wondered if they would phone work.

Thanks for replying Andy...

Not at all. There is no requirement for your employer to be informed, although you will get zero tax codings for the current year which will be notified by HMRC to your payroll department. In a large organisation, clerical staff are unlikely to put two and two together.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Melanie - What does zero tax coding mean????

IVA now finished - Been a long old journey - I have learnt my lesson Im now DEBT free and it feels good!!!!

During the tax year in which you are made bankrupt, because of rather strange HMRC rulings, you do not actually pay any tax or NIC. Therefore you are paid your wages gross, but are required to pay over the tax and NI equivalent sums to the Official Receiver. The only way that your employer can pay you gross is if you have what is called a Zero tax code - and notification is sent of this to the payroll department just like a notice of coding is sent each year detailing your individual tax code based upon your individual personal allowances.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Thanks Melanie - I understand

IVA now finished - Been a long old journey - I have learnt my lesson Im now DEBT free and it feels good!!!!

Excellent stuff Redhead, all the best with your debt free future.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Thanks Melanie...x