My debts have risen from my first two attempts at running my own business and partly due to a number of bad debts in the first business.The debt is approx £100k .The debt has not increased for over six years.My current business is running well and is solvent,This business owes no monies at all.If I go bankrupt will I have to close down my current business accounts.How far back will the OR need to go financially.Some records are unavailable because a business partner took the computers with records and I have had no contact with him for 5 years(thankfully!).
I need to know what information I will need to provide and how far back I need to go.If I cannot provide final accounts for the Ltd companies will this go against me.
you will need to give the OR as much as you have, inc tax returns, bank statements etc. You will also need to let them know where the computer is.
Is the business partner liable for any of the business debts?
Your current business will need to be reviewed by the OR. If you have stock then this will belong to the OR althoughyou willbe given the opportunity to have a friend purchase it back. If you lease a premises then this is a problem.
Maybe you can advise on what type of business you run
self emplyed going br
Posted - 17 March 2009 : 08:12:34
