Hi Everyone, can you advise me please. I went BR in May and am currently making IPA payments. I was self employed up until March 2008 and am confused about my tax return. I understand that even though I am now bankrupt I must submit my return for last year as normal - is this correct? And will I be liable to pay the tax on my earnings for last year?
I'm sorry, this isn't something I can help you with, but there was a similar thread a few days ago. I think the person posting had not yet gone BR but it may give you some idea until someone comes alog who is able to help you. :-)
If you do a search, the post is entitled 'Tax before bankruptcy' or something similar!
If HMRC are asking you to submit a return then you should, but I would make it clear to them that you were bankrupt in May and provide them with the Court name and number, and the OR details.
Thanks guys, I haven't actually been asked to submit a return, I just received the normal form from the revenue prior to my bankruptcy and have read a few posts that led me to think I just submit my return as normal.
Tax bill
Posted - 21 September 2008 : 23:18:37
