can't pay my income tax bill, advice very much appreciated!

sammy115

louietudor wrote: »

lecture over?? dont lecture people people on what they should or should not do - you do not know the whole story - do you think people are thick and dont know what SHOULD be done - you do not know the whole story of why people get into such a mess and therefore your should not commnet on the rights and wrongs just on the solutions - this forum is for support - please try to remember that when find your self having to be 'vocal;'

Not a lecture at all.... as you quite rightly said I do not know the whole circumstances, but I am an accountant and at the moment I find a lot of people in this boat...The IR ARE sympathetic to the majority of cases....

Please read my post again, I was expressing an opinion that a financial advisor should have been more aware of the situation. Self Assessments can be done well ahead of the 31st January deadline and therefore liability can be known well in advance.....

I for one am more than aware of the support that exists on this forum. I used it myself when we unexpectedly hit rock bottom and yes through no fault of our own. I give support every day to many people, I do not lecture.

sammy115

pencilcase wrote: »

Many thanks for the help on this thread - that's a very helpful link, Belfastgirl.

Martin says on one of the stickies on the forum that this is a forum for practical suggestions, not judgement and that these issues, though important, are more suited to discussion on the 'discussion forum.'

Thanks again

Pencilcase

As I said pencilcase I was not lecturing you....it is practical advise that I gave you....

Seaxwyn

Hi pencilcase - as Belfastgirl has posted above, HMRC are allowing people to pay in instalments this year. I rang the helpline and they were really pleasant and considerate and basically asked me how I wanted to pay. I chose to pay over six months. It just took one phone call and was all sorted. Give it a try.

For the longer term - there will be lots of support and advice on here to help you tackle that 55k debt (or 59 with the tax bill). Good luck.

louietudor

sammy115 wrote: »

Not a lecture at all.... as you quite rightly said I do not know the whole circumstances, but I am an accountant and at the moment I find a lot of people in this boat...The IR ARE sympathetic to the majority of cases....

Please read my post again, I was expressing an opinion that a financial advisor should have been more aware of the situation. Self Assessments can be done well ahead of the 31st January deadline and therefore liability can be known well in advance.....

I for one am more than aware of the support that exists on this forum. I used it myself when we unexpectedly hit rock bottom and yes through no fault of our own. I give support every day to many people, I do not lecture.

i reread your post to see where i may have got crossed wires then realized i was right you are judging = quote you:

I do get quite cross at this situation as you have earned the money and you did know that the money was owing. I realise things are tight but you must not think of any money coming in to your business as 'yours' - you must deduct about 30% of any money coming in to your business before you allocate it as disposable income. -end quote

whilst the advice is good your coment that it makes you cross is what makes it judgmental and inappropriate - the poster is a grown up and knows what they should and should not do - and you getting 'cross at the situation' hardly helps

thasts my tuppenth worth finished as i dont wat to distract from the help the poster needs

sammy115

Fair comment, and maybe i got out of bed the wrong side....

It was not directed at the OP and if it came across like that then I apologise to the OP...

pencilcase

I know, it's easy for wires to get crossed on the internet - the thing is, it's not just overdue income tax - loans/credit card debt etc.. none of them were particularly good ideas to get involved with but a lot of us did (myself in a big way!) and are now regretting our past actions and trying to sort things out as best we can.

Actually, the fact that a lot of people are facing problems at the moment makes me feel that the revenue are more likely to give me time to try and sort things out rather than rushing to court - after all, they can't take us all to court, at the moment it looks like there wouldn't be the space!

sammy115

Hi pencilcase..please ring the Inland Rev they will be sympathetic and there are a couple of bills that should be considered priority - in this order, mortgage, council tax, self assessment...

If you make an arrangement to pay then stick to it so don't offer them anymore than you can realistically afford......

Good luck, let us know how you get on....

MrsTinks

Right guys... please either ALL be nice or the thread will get locked which is of no help to neither man nor beast...

I think all sides have a point - if self employed you SHOULD be putting 30% aside and is certainly something I think all people who are SE should remember going forward.
But also - I think everyone realises that a financial advisor should have known better and the OP should have too especially if this is not their first year of being SE.

Now... can we all move on and be nice?

Bob_L

Can anyone give me advice on what the Inland Revenue will do if I don't pay my Tax bill, I owe them about 12000, and cant afford to pay now that I'm unemloyed, I had a limited company but now cant get work, can they take my home from me?
Any advice would be great,
Someone advised to close the company and walkaway, not sure what to do.

jcorbygas

Sammy115 - my husband having been self employed for over 13 years I would say that the most important thing for people thinking of/just starting being self employed is to do as you say and put money aside for tax.
We did not do this at all (very, very stupidly) so each year paid the tax by credit card cheques and then remortgaging etc hence the reason we are now on a DMP and have massive unsecured debt.
I am now putting aside around £500 per month for tax and it will be great not to have to worry in January, and I have just done our tax for 2009/2010 so know what the rough amount due is for the year (which is another record for me as our poor accountant normally doesnt get our paperwork until 6 months after the due date!)