How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3670
Experience:  Solicitors 2 years plus PQE
13113900
Type Your Law Question Here...
Alex J. is online now

I have debt with Hmrc and they have sent a notice to make

Customer Question

Hi I have debt with Hmrc and they have sent a notice to make be bankrupt the only thing I owen is a van for work can they take the van if I'm made bankrupt I live in n.ireland and can they stop me working as self employed
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Alex J. :

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you.

Alex J. :

Normally any assets used in trade or work are exempt from your estate in bankruptcy.

Alex J. :

They wont be able to stop you from working but there may be a limit on the amount money you keep from your employment while you are an undischarged bankrupt.

Alex J. :

Normally bankruptcy last for one year and in that period you will agree a figure with your trustee that you are allowed to keep for living expenses.

JACUSTOMER-rc2m9prn- : At the moment I'm making a profit of £123 a week but previously I was earning £50000 a year that's about 6 months ago.
Alex J. :

Hi, Thank you. I cannot speak for the trustee in bankruptcy but in all likelihood you would be able to keep that for your living expenses and food.

JACUSTOMER-rc2m9prn- : Thanks who would the trustee be
Alex J. :

Hi, Thank you, ***** ***** have any other substantial assets it will likely be some one from the Official Receiver's office.

Alex J. :

If I can assist any further or you have any follow up points please do not hesitate to contact me. Kind regards AJ