Please help distressed-middle-aged-lady with old (unknown) business debt….

basketcase

AlwaysStruggling wrote: »

No I haven't - I don't want to drop her 'in it', she's still a mate with a young family.

I'm not ignoring HMRC (I called them straight away as soon as I got their letter).

I'm ok (ish) with the problem being 50/50, but HMRC seem to be treating it as 100% me, which will simply ruin me

I don't know about that. She seems to have inadvertently dropped you in it! And, I don't really like to say this, but what if HMRC don't think it is inadvertent but that you, personally, have done it deliberately? In either event, I agree that you should get hold of copies of the bank statements. There may have been an error in the payment system and the money's in a Holding Account or something.

I think you really need to let HMRC know there were 2 of you in the business, though. How can this be dropping your mate in it when she took wages and you didn't and you've already cleared a load of debt at the expense of your home? They may even be able to help you sort through the confusion. Have you asked for copies of any other correspondence relater to this matter? Seems a bit harsh to demand like this on a first communication...

Re the house deposit - could someone advise if this would be better transferred into the husband's name so it doesn't just disappear? Or is this not possible? I'm not really good at this sort of thing...

AlwaysStruggling

thechippy wrote: »

Just to add, was the company Ltd??

No it wasn't a limited company, nothing as grand as that - it was only a small venture with the 2 of us buying and making stock to sell online.

Reference to your previous post I can't imagine she(ex-business-partner) is intentionality dropping me in it - she is fairly scatty (as it turns out) but nothing malicious I think.

thechippy

Ok,

It may not be intentional, but at the end of the day this is a 50/50 issue.

Get copies of those statements sharpish and get back to us......;)

AlwaysStruggling

basketcase wrote: »

I don't know about that. She seems to have inadvertently dropped you in it! And, I don't really like to say this, but what if HMRC don't think it is inadvertent but that you, personally, have done it deliberately? In either event, I agree that you should get hold of copies of the bank statements. There may have been an error in the payment system and the money's in a Holding Account or something.

I think you really need to let HMRC know there were 2 of you in the business, though. How can this be dropping your mate in it when she took wages and you didn't and you've already cleared a load of debt at the expense of your home? They may even be able to help you sort through the confusion. Have you asked for copies of any other correspondence relater to this matter? Seems a bit harsh to demand like this on a first communication...

Re the house deposit - could someone advise if this would be better transferred into the husband's name so it doesn't just disappear? Or is this not possible? I'm not really good at this sort of thing...

Thanks for that! And yes I was more than a bit confused by the harshness of their demand given that this was their first letter to me about the matter. I will let them know that I was 1 of 2 partners (I still feel like I am squealing on a friend though).

With the bank account - I didn't open it and wasn't a signatory so not sure how I can get statements other than asking for copies from my mate (who says she doesn't have any).

Re deposit - Hubby and I have a joint account so I tend to think that if something negative is fired at me then it may stick to him also - but good point, I'll investigate that = Thanks ;-)

AlwaysStruggling

AlwaysStruggling wrote: »

Thanks for that! And yes I was more than a bit confused by the harshness of their demand given that this was their first letter to me about the matter. I will let them know that I was 1 of 2 partners (I still feel like I am squealing on a friend though).

With the bank account - I didn't open it and wasn't a signatory so not sure how I can get statements other than asking for copies from my mate (who says she doesn't have any).

Re deposit - Hubby and I have a joint account so I tend to think that if something negative is fired at me then it may stick to him also - but good point, I'll investigate that = Thanks ;-)

My goodness, looking at my own posts I sound sooo weak! How embarrassing - I'm usually pretty clued up too.

Just sounding out here has helped a lot - thanks (going to have a GnT now)

thechippy

You will have to ask your ex partner to get the copies.

She may not have them, but she can write to the bank and request them..;)

thechippy

AlwaysStruggling wrote: »

My goodness, looking at my own posts I sound sooo weak! How embarrassing - I'm usually pretty clued up too.

Just sounding out here has helped a lot - thanks (going to have a GnT now)

Have one for me as well......:beer::D

Trollfever

Re the house deposit - could someone advise if this would be better transferred into the husband's name so it doesn't just disappear?

HMRC will chase you for the full amount due (joint and several liability) and if they think you are hiding funds [STRIKE]will [/STRIKE]may make you bankrupt and recover via the Official Receiver.

Contact Business Debtline:

http://www.bdl.org.uk/

josie836

Just a point with you partner saying she has no records of payments etc, as I understand it you have to keep all your records for seven years so as to be available for any investigation by HMRC.

binnie

Hi, Did you ever get to see the books of the incomings and outgoings?