Woke up to a letter this morning:
I owe HMRC £29k - but in all the other demands it was £15k, but in this bankruptcy letter it says £29k
I dont know how the other £14k has been added to it.
I cant get a loan as the CCJ'd me a couple of years ago.
If i go bankrupt, what happens, and more impportantly will i still owe the £29k to HMRC?
Update:Steffi -
My only creditor is HMRC for estimated Tax Returns. The CCJ was from HMRC.
I live in a bedsit with a TV and an couple of other bits and bobs.
Im a taxi driver that tried to go to them for help, but they told me that they are not there to help me.
I couldnt afford an accountant, so the returns never got done.
My debt to them is £15k - i have no idea where the new extra £14k has been added to this making it £29k
Either figure i could not pay. Yes i shouldnt have let it get this bad, but i have, so theres no real solace in reading "why dont you sort yourself out"
As your an ex tax office employee, its sounds to me the stereotypical response that i myself got from them when i went to them for help and that you tax employees feel that you are way above the rest of us with your snotty attitude.
Please dont reply again.
Answers & Comments
Verified answer
If you go bankrupt, all your assets will be seized, and sold. All creditors will get so much in the £, but it is possible HMRC may have a preferential claim, which would mean other creditors would get their share after preferential debts were paid.
After discharge from bankruptcy, you owe nothing, unpaid debts are wiped out. There is a lot of hassle, especially in being made bankrupt, and you are very limited as to what you can do. You say you have had CCJs in the past. You must have had the income, otherwise the liability wouldn't arise, unless these amounts are estimated because you won''t do Tax Returns, etc. Why don't you sort yourself out?
Hi,the tax man adds interest.You need advice & quick
go to citizens advice.If you go bankrupt then so long has you own nothing your other debts will be written off not sure about tax.
Good Luck
give everything away to someone you trust to give it back befor the tax man takes it from you : )