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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
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Trustees have failed to submit annual accounts sole asset is

Resolved Question:

trustees have failed to submit annual accounts sole asset is residential house. Can hmrc apply for order for sale if tax is due and not paid
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear *****, I regret to say that if the Revenue get judgment upon the amount of the tax owing they can then seek an order for sale in respect of that judgment. The Revenue have wide powers. However, they cannot get an order for sale until such times as they obtain judgment against you. However, they can put in a receiver to enforce the judgment. So the best course of action is to get the trustees to discharge the tax liability before HMRC act. Otherwise the situation might get much worse.
Expert:  Buachaill replied 1 year ago.
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