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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Personal circumstances gave me not option but to obtain a VAT

Resolved Question:

Personal circumstances gave me not option but to obtain a VAT |( my wife and myself) four years a go to protect my family.
I'm self-employed and the company i'm working for told me it will be close very soon. I have the possibility to do the same business buy open a limited company with me as shareholder and Director. A business person I know will give ma loan for the business. Can I do it with be penalize by the IVA?. If I don't do it, I will be our of work and been 61 years old nobody will give a job to pay the mortgage, bills, etc for my house.
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

I do not quite understand your situation, could you please explain the situation a little more?

Customer:

the only way to obtain an income and pay my iva it weil be to form my own limited company. I would like to know if it will be refuse because my IVA.

Alex Watts : Ok. So you want to pay yourself a wage from the company to pay for the IVA?
Alex Watts : Do you own all the shares in the company?
Customer:

No I would pay from my wages as I do it now.

Alex Watts : Ok, so I Dont quite understand your question?
Customer:

I will have a company with £1.00 shares

Alex Watts : Ok.
Alex Watts : But I still don't understand?
Customer:

Okay. I can't explain my self better. Don't worry. and thanks for your time.

Alex Watts : Just try and I can help.
Alex Watts : You have a company and want to pay yourself but wonder would this affect an IVA ?
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