Hi to you all, 1st time here and seems like a very helpful site, my story in short is i started in buisness about 5/6 years ago and robbed Peter to pay Paul!!! Paul in this case happens to be the tax man!!! i am VAT registerd and used money owed to them to pay wages/rent and generally to keep afloat. I started to fall behind with the vat because i was trying to work all the hours god gave to make ends meet and then before you know it i've missed vat returns etc etc and this also led to late payments of PAYE for the guy i employ and my own PAYE included,probably owe the tax man now in the region of £40,000 but i'm still trading?? Had a visit from the tax baliff 4 months ago who was actually a very nice guy and totally helpfull to the extent i ring him now and ask questions??whats that about?normally avoid baliffs? LOL, one of my questions is if i go Bankrupt oweing PAYE of my employee does and would this affect his pension as he's getting near that sort of age? My 2nd question is i have ongoing jobs which i have started but not recieved any payment yet as not finished,if i go bankrupt i intend to carry on trading in the same name (sole trader) but when i invoice for work completed will this be taken by the trustee as earned/invoiced after the bankruptsy date?? i have loads of questions but these 2 are on my mind at the moment!! Thanks for any help anybody gives to this.... Nick
Hi to you all, 1st time here and seems very helpful
Posted - 13 July 2011 : 21:25:11
