INLAND REVENUE TAX CREDITS VERSUS BANKRUPTCY

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Mr Loadsofbills

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Post by Mr Loadsofbills » Sun Jan 28, 2007 10:18 pm
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There are probably many people out there like myself where Inland Revenue has overpaid tax credits to them due to one of the very many errors that have occurred during this governments reign. Need I say more.

My question is:

If you owe tax credits and Inland Revenue is one of your creditors what happens to the tax debt in an IVA or Bankruptcy? Will you still owe any tax debt once an IVA is completed or a Bankruptcy has been discharged?









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Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
Last edited by Mr Loadsofbills on Sun Jan 28, 2007 11:11 pm, edited 1 time in total.
My sig.

Eat the debt. My raison d'etre is to put TIX 'the isolvency exchange' out of business by informing anyone who will listen to take a bankruptcy over an unrealistic IVA proposal.
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MelanieGiles

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Post by MelanieGiles » Sun Jan 28, 2007 10:24 pm
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The tax debt may be included as a creditor, but HMRC will simply adjust the amount they are owed in next year's figures - thus effectively preferring themselves. There is nothing that can be done about this unfortunately.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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