HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post

 All Forums
 archive
 Forum Questions
 HMRC arrears? Can you go to prison ?

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize:
UserName:
Password:
Format Mode:
Format: BoldItalicizedUnderlineStrikethrough Align LeftCenteredAlign Right Horizontal Rule Insert HyperlinkInsert EmailInsert Image Insert CodeInsert QuoteInsert List
   
Message:

* HTML is OFF
* Forum Code is ON
Smilies
Smile [:)] Big Smile [:D] Cool [8D] Blush [:I]
Tongue [:P] Evil [):] Wink [;)] Clown [:o)]
Black Eye [B)] Eight Ball [8] Frown [:(] Shy [8)]
Shocked [:0] Angry [:(!] Dead [xx(] Sleepy [|)]
Kisses [:X] Approve [^] Disapprove [V] Question [?]

 
Check here to subscribe to this topic.
   

T O P I C    R E V I E W
Angie Posted - 05 June 2010 : 09:40:30
Please can anyone answer the following, as I have had conflicting reports from people.

1. If you are declared bankrupt, do you still have to pay HMRC arrears?
2. Can you go to prison if you owe money to HMRC? I know in the US some people did back in the 40's.
Many thanks.
3   L A T E S T    R E P L I E S    (Newest First)
Angie Posted - 07 June 2010 : 21:20:53
Many thanks indeed for answering my questions so speedily.
Richard P Posted - 07 June 2010 : 11:35:29
Angie

I agree with debt info.

with reforms of the bankruptcy rules HMRC lost their status as preferential creditor and as such the debt is included in BR

yes their have been some high profile figures who have gone to court for tax related issues, but these have been around fraud, and evasion (deliberate acts to beat the tax man). Joe public that has run into financial difficulties and then used their tax money to try and keep the family or business financially afloat will not be sent to prison.

Incidentally the tax man is one of the creditors that will petition for your bankruptcy but that normally takes them 2 - 3 years.

If you are currently running a business and considering keeping the business running after bankruptcy, i would seek proffessional advice because if you structure it wrong all your hard work could be wasted effort if structured wrong.
If this is the case can i suggest speaking to Paul at Reviva, they will be able to properly help with the planning and process

regards Richard
debtinfo Posted - 05 June 2010 : 10:16:30
1. No you dont

2. You dont go to prison for owing money in the uk, There are a couple of reasons you can go to prison for money related situations but these are connected with fraud and theft, not for simply owing a debt

bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06