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No tax on income if you're bankrupt?
HappyG1rl
Posts: 242 Forumite
What happens in the next tax year after bankruptcy? Do you pay tax?
I'll never be a Money Saving Expert while my kids are Mony Spending Experts.
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Comments
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At one time HMRC were a 'preferential creditor' - in effect they got their dues no matter what, they were front of the queue so to speak. These days they're no longer preferential so are not allowed to deduct tax. This is because the receiver may request this money for other creditors.Quidco savings: £499.49 tracked, £494.35 paid.0
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