tax refund from business vs iva

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mark bright

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Post by mark bright » Sun Jun 23, 2013 2:07 pm
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Hi

Im due a tax refund for £3500 for my partnership. this refund is made up of business expenses and paying 30% tax whilst we waited for our utr number.

My iva started last year and I'm concerned i'll never see this money. is it classed as windfall?

this refund is for a self employed partnership which has now ceased trading
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Michael Peoples

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Post by Michael Peoples » Mon Jun 24, 2013 10:02 am
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It sounds like a windfall and HMRC may offset it against any moiney owed to them. If there is no HMRC debt the money will be offered to your IP who will let you know whether or not it is captured.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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