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| mail2 |
Posted - 25 July 2008 : 23:04:18
hi, i am about to finish my year as a bankruptcy on the 31st august. i have received a letter from the liquidator detailing his plans to lodge a BRO against me for 9 years i replied stating i would accept two without the need to go to court.
he replied that this wasnt acceptable and his seeking the full nine years. he sent me a leaflet detailing what i cant do regarding this BRO. now i would like to ask you in plain english can i still work for my self if so can it be under my name or as a trading as company ie jack jones trading as xyz.
i went bankrupt under my own name trading as wolverhampton windows.
or do i have to work for someone direct.
thank you.
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| 3 L A T E S T R E P L I E S (Newest First) |
| Helpful Advice |
Posted - 27 July 2008 : 19:38:27
Hi J,
If you turnover more than the threshold for VAT then the normal rules apply and you will not be asked for a bond, however I have heard of the Revenue asking for monthly returns rather than quarterly.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| mail2 |
Posted - 27 July 2008 : 19:27:35
thank you for your answer, now another question for you if you dont mind. as i owed the inland revenue a large amount of money ie VAT if i went self employed and because my turn over would be more than the VAT threshold would i be given a vat number and also would i have to lodge a bond with the vat people. if that is the case then i cant give them anything because of my circumstances.
regards j |
| Helpful Advice |
Posted - 26 July 2008 : 13:46:35
Hi Mail,
Firstly you can trade in your own name you do not have to be employed the BRO will however restrict you from trading or forming a LTD company or being a Director of a LTD company.
Secondly although the OR is seeking a nine year order the final decision rests with the court so I suggest you attend the hearing and put your side across.
BRO's are dealt with in three levels.
2-5 years 6-10 years 11-15 years.
It appears they are going for the maximum term on a minimum offence BRO.
I recently had a case where the OR was looking for a 10 year BRO, although the court agreed it was a medium level offence they only gave a 6 year BRO rather than the full 10.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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