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 What happens to my friend's tax liability in bankruptcy ?
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Jamiedjw54
Starting Member



1 Posts

Posted - 16 December 2011 :  09:55:41  Show Profile  Visit Jamiedjw54's Homepage  Reply with Quote
Dear sir or madam,
My friend has gone bankrupt in the 2010-11 tax year and has therefore had to complete a tax return as he was issued with a NT tax code. the return is ok but shows substantial tax to pay. what happens with this liability, is it due to be paid by 31st January 2012? Thanks in advance.

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 16 December 2011 :  11:01:18  Show Profile  Reply with Quote
Hi and welcome

As far as I know then the tax money should be paid across to the official receiver while you have the NT tax code.

Hopefully one of the experts can advise further.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 16 December 2011 :  12:27:34  Show Profile  Reply with Quote
Any tax due prior to the bankruptcy order will be written off in your friend's bankruptcy.





Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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