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ALLPUNCHEDUP
Starting Member
7 Posts |
 Posted - 08 September 2010 : 10:23:43
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| does your VAT get wiped off with bankruptsy ? we are trading as a partnership , no LTD |
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debtinfo
forum expert
2826 Posts |
Posted - 08 September 2010 : 10:30:00
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| Your liability will get wiped for the VAT, if the other partner does not go bankrupt their liability would not be wiped, If all partners are going bankrupt and the business is ceasing to trade you can do a Form 16 partnership bankruptcy which covers everything in one go |
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ALLPUNCHEDUP
Starting Member
7 Posts |
Posted - 08 September 2010 : 10:46:05
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| Thank you , what wont get woiped off ? |
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debtinfo
forum expert
2826 Posts |
Posted - 08 September 2010 : 10:56:11
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| Nearly everything gets wiped of in banruptcy, there are a coupe of exceptions, CSA payments, student loans mag courts fines |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 08 September 2010 : 11:03:54
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Also worth preparing for the reasons regarding the HMRC debt. if it is commensurate with the other debts that is OK but if it is substantially higher that the other debts the Official Receiver may look at the business closely and will want to know why those debts were unfairly treated.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
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ALLPUNCHEDUP
Starting Member
7 Posts |
Posted - 08 September 2010 : 11:04:05
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| What gets searched , for instance do they search your computer and do they take childrens belongings? |
Edited by - ALLPUNCHEDUP on 08 September 2010 11:04:40 |
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debtinfo
forum expert
2826 Posts |
Posted - 08 September 2010 : 11:48:20
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| They wont take your childrens belongings, (or any reasonable belongings of your own) Thy will look at your trading records and any financial documents or statements that you have |
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ALLPUNCHEDUP
Starting Member
7 Posts |
Posted - 08 September 2010 : 17:39:59
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can i put money into my childrens banks ( ill have to get them one ) or can i get them isas ect ?
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ALLPUNCHEDUP
Starting Member
7 Posts |
Posted - 09 September 2010 : 12:02:28
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I f my kids had money in the bank or an isa would this be taken off them ?
Thanks for any help |
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debtinfo
forum expert
2826 Posts |
Posted - 09 September 2010 : 12:51:32
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| no, but if you put lots of money in there shortly before a bankruptcy that the trustee would claim it back |
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does your VAT get wiped out with bankruptcy ?
