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T O P I C R E V I E W
derekw
Posted - 27 January 2009 : 20:32:07 HI
im new here! i run a small ltd company! i am going to go br as soon asap! prob! i owe the tax and vat man money ! vat £4000 tax £2000 !
i owe tsb for a loan i gave personal guarantee for and cr***ping myself
i owe about £90000 personally to creditors hence the reason for going br, i have had to use money from my business bank account to pay my mortgage and other stuff, but i am worried about getting done for not trading properly.
i don’t suppose its the largest amount in the world to owe the vat man but love to hear of anyone that has had similar experiences or just give me some advice
I have no equity in my house and also have a secured loan on it so I believe I should not loose it if I go br
3 L A T E S T R E P L I E S (Newest First)
derekw
Posted - 27 January 2009 : 22:05:02 yes the company is still trading and has been profitable, but i am so worried about the vat and the tax!
John
Posted - 27 January 2009 : 21:45:40 Hi derek
it's usually best to get things in order prior to declaring bankruptcy. Your home is in negative equity so you should be ok there.
You need to get the limited company situation resolved too before going to court for BR.
Is the company still trading? Does the company have any assets? Is the company profitable? Would you prefer the company to continue trading if it can?
The advice you need is likely to vary dependent on the answers to these questions.
Posted - 27 January 2009 : 20:53:23 Hey there Derek and welcome to the forum.
Im sorry im not able to answer most of your query (useful i know ), however with reards to the house...If you are in negative equity then the beneficial interest can be bought back off the Official Receiver for around £212.
Good luck and there will be someone experienced enough to help you soon
Jenny xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
), however with reards to the house...If you are in negative equity then the beneficial interest can be bought back off the Official Receiver for around £212.
