Question on bankruptcy

Barkeroil

hi, abit of a lurker here.

I became bankrupt in september last year so almost through. It was hard but needed.

my question is that I paint a lot in my spare time. Im looking for work at the moment, i sometimes get a few labour jobs which i always inform receiver about but with my paintings i was wondering that if I was ever lucky enough to sell any (silly dream probably). For the paintings that were painted while i was not discharged do i have to inform receiver after discharge if i make any money from them. Im not deluded, i know chances are slim but i just wondered.

TheGardener

Just a guess - but I think its highly unlikely. At the time they were painted and even now - they can not be called an asset. A painting is only worth something at the point someone wants to buy it, which they haven't so far. I guess it would be different if David Hockney or Banksy were BR as they are established artists and the value there is in the name of the artist as much as the value of a canvas.
If you do sell one while undischarged, it would simply be income you would declare like the labouring jobs. If you sell them after AD the money would be yours (assuming no IPA).
Good luck

Barkeroil

Thankyou. Its as i thought but you can never be to sure. I just want to get this right and dont want to mess up. discharge is so close now.