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F E Smith
F E Smith, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 9806
Experience:  30 years in general practice.
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I have a few questions to ask.I am going to declare myself

Resolved Question:

I have a few questions to ask.I am going to declare myself bankrupt soon.I am a self employed dentist.I ran into financial difficulties in 2013.I made token payments of £1 to my creditors since and did not fill in tax returns since 2012-2013 tax year.Must I first get my tax returns up to date before filing for bankruptcy or should I just go ahead?What will the consequences be ?
Submitted: 4 months ago.
Category: Bankruptcy Law
Expert:  F E Smith replied 4 months ago.

Hello - have you any idea how much you are owing?

Customer: replied 4 months ago.
creditcard loans and overdrafts £89 000.00 and tax estimate +- £75000.00
Customer: replied 4 months ago.
I prefer the online chat.Thanks
Expert:  F E Smith replied 4 months ago.

The telephone call offer comes out automatically. You can just ignore it.

I suggest that you don’t try to deal with this yourself go to see an insolvency practitioner.

With regard to your tax return, the answer is relatively simple: you won’t know your tax liability until such time as your accounts have been finalised and you are in a position to submit your return. Hence, whilst you do not necessarily have to do the tax returns, it is expedient to do so to finalise your financial affairs and to avoid any debts not being included in the bankruptcy.

Can I clarify anything for you?

Please take a moment to look at the top right hand corner of the page and rate my service by clicking one of the stars at the top of the screen. Then press Submit. Thank you. If you still need any point clarifying, I will still reply because the thread does not close.

Best wishes.

FES.

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