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Business folded but have debts
dylsi
Posts: 1 Newbie
My wife closed her shop last September due to lack of business. She has £24k of debt from that business. She's got another job but she's paying off the debt from her salary every month. Didn't declare BK as didn't want to risk losing home or belongings.
Should she be paying income tax on her earnings even though it's going to pay off the debt of her business?
Seems unfair.
Thanks
D.
Should she be paying income tax on her earnings even though it's going to pay off the debt of her business?
Seems unfair.
Thanks
D.
0
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