Would someone be able to advise me on the below subject.
On the 10.10.2006 I declared myself bankrupt my main debt being to the HMRC.I was told around 1-2 months later by the Official Receiver that the case was not worth persuing and I was discharged.I am now about to inherit some money from my late mothers estate (not enough to qualify for inheritance tax),I have been told that my bank (co-op) will notify HMRC of any large amounts of money going into my account. My question is can the HMRC take this money from me because of what I owed them at the time of bankruptcy.
following Bankruptcy did you enter a income payment agreement ?
Did you mother sadly pass away during bankruptcy or the term of the IPA.
if the answer is no to both the questions "it is procedural to tell HMRC of any money inherited in case of IHT has nothing to do with bankruptcy". The bank also notify police and GOvt if a large amount of money is paid into an account (in case of money laundering)
No they cannot back date claim pre bankruptcy.
Just in case Ben please remove your surname from any posting
Hi My name is Ben Would someone be able to advise me ?
Posted - 18 October 2011 : 13:49:44
