Husband's HMRC debts

Nanny22

Hello,
I separated from my husband just over a year ago although we have not divorced. He had got himself into debt being a self-exployed sole trader and owed the Tax and VAT man money. So he could pay off these debts we sold our home and split the proceeds 40/60. I have just found out that the money has gone and he hasn't paid the tax man. Can I be held liable for this? I used my share of the sale as a deposit on a house for me and the kids. I feel sick at the thought of losing my home again. Any help or advice would be appreciated. Thank you.

InsertWittyName

Nanny22 wrote: »

...sole trader ... Can I be held liable for this?.

I don't believe so, no.

fermi

I think the only concern might be if HMRC makes him bankrupt.

The Official Receiver/trustee may then want to look to make sure that the monies from the property were distributed fairly.

I'm certainly no expert in that, but to me it sounds on the surface as if it was done fairly, so I would imagine that the OR/trustee would have no claim on your portion of the monies.

So should it look like HMRC lose patience and go to bankrupt him, then it might be worth getting some legal advice on the implications.

Nanny22

fermi wrote: »

I think the only concern might be if HMRC makes him bankrupt.

The Official Receiver/trustee may then want to look to make sure that the monies from the property were distributed fairly.

I'm certainly no expert in that, but to me it sounds on the surface as if it was done fairly, so I would imagine that the OR/trustee would have no claim on your portion of the monies.

So should it look like HMRC lose patience and go to bankrupt him, then it might be worth getting some legal advice on the implications.

Thank you - I think the split would be considered fair as I have two young children to support. Was advised by solicitor to stay put and not sell the house as I would be entitled to a bigger share, but just couldn't do it. It was meant to be a "debt free" fresh start for both of us. Thanks for your time:)

smartpicture

When you divorce, there will be an financial split then, and if you apparently have lots of money and that point and he has loads of debts, not sure how that will pan out? The fact you have previously amicably agreed a financial split may not count for much at that point.

I would suggest you discuss situation with a divorce lawyer to be on the safe side.

Nanny22

smartpicture wrote: »

When you divorce, there will be an financial split then, and if you apparently have lots of money and that point and he has loads of debts, not sure how that will pan out? The fact you have previously amicably agreed a financial split may not count for much at that point.

I would suggest you discuss situation with a divorce lawyer to be on the safe side.

Thank you. Definitely no money - working three jobs just to pay mortgage. Only asset is the equity in house which isn't much.