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UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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re my previous questions regarding my inability to pay my companies

Resolved Question:

re my previous questions regarding my inability to pay my companies tax bill. I have just discovered that my mother put her house in trust to me and my sister some years ago. can the taxman get his hands on this if so what exactly can he do? thanks
Submitted: 1 year ago.
Category: UK Bankruptcy Law
Expert:  UK-Justice replied 1 year ago.
Thanks for your question. Please remember to rate my answer SMILEY FACE OR ABOVE so that I am credited for my time.

To be clear, this is a Ltd company - is that right?

I assume you have no signed any personal guarantee with HMRC?
Customer: replied 1 year ago.

no its a ltd company tax bill for around 25k. i have paid out all company funds to myself as dividends and wages and now the company is in no position to pay its tax. i thought as i had no assets there would be little they could do except make me bankrupt which wouldnt bother me but i now find out i have half this house in trust which will become mine when my mother dies or sells it

Expert:  UK-Justice replied 1 year ago.
Thanks. I understand that this is worrying.

But there is NO personal liability.

There is a remote possibility you could be personally investigated but no - the taxman cant get his hands on it.

This is a company debt. It will always be a company debt.

A company debt can not be enforced against you personally.

I hope this reassures you.

Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
Customer: replied 1 year ago.

really thats good news i thought they could issue a notice of personal liability. i've been afraid to buy anything for fear of them seizeing it or leviing on it or whatever. ive just been fileing their demands in the bin. how should i respond to them the company has ceased trading and has 70 pence in the bank and no other assets at all or should i just ignore them and let them do what ever it is they do under these circumstances

Expert:  UK-Justice replied 1 year ago.
Potentially but you have a right of appeal.

You must be culpable meaning its really done on purpose.

But if the company has ceased trading, they have very little they can do and you should consider dissolving the company as well.

As soon as the company is dissolved there is no liability.



Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
UK-Justice, Barrister
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and other UK Bankruptcy Law Specialists are ready to help you

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