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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15437
Experience:  International tax
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hmrc advise I owe £65000 I have tried 2 iva and been turned

Customer Question

hmrc advise I owe £65000 I have tried 2 iva and been turned down, I have 2no county court judgements on my property. I have tried tax aid & citzens advice , no joy do you have and y advice , as I think the next step for them is bankrupting me, I have no savings & have tried for a loan but have been turned down please advise
Submitted: 3 years ago.
Category: Tax
Expert:  TaxRobin replied 3 years ago.
Hello and thank you for posting your question.
Bankruptcy may be forthcoming. Often petitions for bankruptcy even where it is clear that this will not benefit HMRC because the taxpayer has no assets.
Sometimes the Enforcement Office may decide not to take further action against a person who is unable to pay.
If this happens when you are discharged from bankruptcy income tax and other debts are written off.
HMRC have the right to deny an IVA (individual voluntary arrangement) request if they feel it is unreasonable.
If it goes to bankruptcy, you may want to ask the court for an adjournment, to allow time to raise the money. As you have already stated that you tried the loan option and could not this may not really assist you.
If you could show that the reason for not paying or dealing with the tax owed was beyond your control you could request Special Relief. If you wished to pursue this then I suggest you seek the assistance of a local solicitor.

I sincerely wish I could assist you with a certain and specific route to take but it appears you have been diligent in your actions so far.

My goal is to give you excellent service. If you are satisfied, please rate me. If you have follow-up questions on this same topic, use the reply box below. To start a new conversation with me on a new topic request me again.

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