Author Topic: The Taxman & Bankruptcy  (Read 2486 times)


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The Taxman & Bankruptcy
« on: Dec 13, 2008, 01:11:11 PM »
Hi, I have been Bankrupt before and was discharged in 2000, however since my discharge my tax affairs and problems have esculated and are now at crisis point with a possible pending assessment from the tax office of around £50,000  As I am in no position to pay this amount of money, I am considering a 2nd term of Bankruptcy at the age of 52.   How will the tax office deal with this debt? If I do have to go bankrupt for a second time will the Receiver be obliged to review my first term?

I would add that since my discharge, I only have liquid assetts, I do not own my home, but have lived with my family, since being discharged from my first term.    I am single will it affect the home in anyway? I am aware that I can still work, but will require a bank account to do so, is this possible? I am also considering applying for a savings account with internet access in either Singapore or the Middle East should I decide on a 2nd term will this be a safe haven or will I have to inform the receivers