Corries Liz McDonald goes bankrupt

[Shining]

I could be very comfie now. Hindsight a wonderful thing!

I wouldn't be kept awake by worrying about redundancy either x

[mattyboy]

High earnings push people into a world of luxury. It's not easy to climb down when times get tougher. I used to regularly be popping into Gucci and Armani living the life of a celebrity, my income wasn't quite there though and something had to give. The good thing about the IVA is that it gives you time to reassess priorities. I hardly spend anything on excess luxuries now but I am a lot happier. I agree with Lesley, it's easy to see how financial troubles can affect people from all backgrounds. I just hope her husband doesn't do a Jim McDonald...

[animaleyes76]

The thing is though that even when we all paid for the luxuries/stupid things that we spent the money on, I guarantee the majority of people still paid their tax.

There is NO excuse for not paying your tax, no matter what situation you are in.

[MrsKnight]

I think the problem lies when you earn more there is more credit available to you so therefore you take out more! Bigger mortgages etc. So they probably get into debt quite easily - just on a larger scale!

I do think the not paying tax part is silly & why does that bit happen to these people with higher incomes than normal folk? I don't get it as its a no brainer to me!

[Shining]

Being employed I've always been PAYE and taken from my salary as is hubby's. If I was in debt and needed to pay bills, I'd have probably thought well something will be along soon at Xmas/Easter/Summer etc., just as I used to about money.

[lem]

I think it's easy for people to say there is no excuse for not paying tax, if you're PAYE then it's automatically taken so you don't have a choice, if you're self employed things aren't as clear cut.

In the 80's my dad was a partner in an engineering firm that he set up, they did great, employed a cracking accountant to deal with the finances but then it all came crashing down in the 90's as it turned out the accountant hadn't done his job properly and for about 5 years the tax demands from HMRC were so high that it ended up they just couldn't afford to keep going so the company folded, my dad did nothing wrong and always paid his taxes that he thought were due, so I wouldn't immediately jump to the conclusion that Ms Callard has deliberately avoided paying her taxes as the tabloids report, it might not be as clear cut as that

[footiemad]

They like a good story don't they!!!

[terry d]

i agree with lem,being self-employed myself for 20 years,you never know what tax you will pay untill you put your accounts in either by yourself or your accountant,and you are always paying 6 months in front anyway,its very hard to balance sometimes,take last year tax year 2010-2011 i paid £650 for the whole year and got a refund of £2,500 the year before tax year 2009-2010 i paid £3000,this year i expect to pay a big fat £0,but to owe a huge amount of tax say £50,000 would be somewhat of a suprise to anybody,going bankrupt will include all that tax as well,plus any tax owed whilst bankrupt

[vimto1029]

Oh dear...looks like another Corrie star couldnt be bothered to pay their taxes..

http://www.digitalspy.co.uk/soaps/s3/co ... krupt.html

[Niobe]

Have to say that I've no sympathy.

[Shining]

I wonder how many of us PAYE employees if we were self-employed would have defaulted on tax if we were self-employed?

[lem]

possibly thousands Lesley, at the end of the day with all good intentions of keeping it set aside to pay across at the end of the year, how many of us would have dipped into it in desperate times to pay an unexpected bill hoping something would come up before it was due to be paid?

I have EVERY sympathy for anyone who ends up in dire financial straits whether it was their fault or not, the stress and emotion you feel when you are going through financial hell is awful and having someone pointing the finger and figuratively saying @i told you so' or 'its your own fault' doesn't help anyone

[Shining]

couldn't agree more Lem, we're all here for different reasons and in my own case pure greed!