Tax Debts

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soreloser

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Post by soreloser » Mon Oct 29, 2012 12:03 pm
Haven't been on the board for a long time but a friend of mine is struggling to pay tax bills from way back to the tune of around half his income each month (self employed). Trouble is the amount never seems to go down apparently due to added interest and he's just treading water. One of his regular sources of work looks like drying up and he is concerned about this. What would happen if he went for bankruptcy - are the Inland Revenue a creditor like a bank or will he face criminal charges?
 
 

Kelly O

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Post by Kelly O » Mon Oct 29, 2012 12:31 pm
Hi Soreloser,

In bankruptcy HMRC are treated in the same way as any other creditor.

He should seek advice before going bankrupt to discuss his circumstances and see if there are alternative options available
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
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