Hi, recently saw a posting by Mel about self employed people not realising that write offs may affect them in later years. As we are both self employed and may include HMRC in the IVA proposal I need to know more...can anyone help?!
Thanks
Lou
Hi Lou - have you chosen an IP yet? If not, make sure they are properly equipped to deal with self-employed cases as there can be more to consider than with us PAYE cases.
Hopefully Mel will be able to explain this. I'd be quite interested in the answer too...every day is a school day around here!
I agree that you should seek professional help if you are not already in an IVA.
Visit www.iva.com for a list of companies and reviews and give one or two a ring for some free and impartial advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi, yes I've spoken to IVA Advice Bureau (Mel's team) and I'm getting together the required paperwork at the mo. They're aware of our self employed status, but tax write offs haven't been mentioned..yet. I was just wondering whether any of you regular posters knew anything, as I'm learning all the time. I'll make a call tomorrow unless Mel sees this in the meantime. Thanks for your replies and I'm sure you'll be helping us along in this process with the questions spinning around my head!
Lou
Excellent team to choose Lou - good luck and the forum is always here for any advice or help you need.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Taxes written off will not affect your future trading position, as they do not affect profit and loss. In my earlier post I think I was referring to trade debts written down, which would affect profit and loss.
