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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
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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: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 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