Bankruptcy Petition served

AgentJR

I’m a sole trader with a recent Bankruptcy Petition issued by HMRC for £126k (the statutory demand period negotiations failed).

I’d initially hoped there was a ‘Form 440 Time To Pay’ alternative for this, but have failed to find anything.

Having resolved myself to bankruptcy, I have been told that they will make me bankrupt on the ‘petitioned amount’ which is only up to May this year so it won’t include amounts owed after this time.

If this is correct, can I apply before their hearing date to be made bankrupt myself, so that all their debts are included up to the now?

Any other advice would be appreciated.

A very scared enquirer.

debt_doctor

Hi,
On the day that you are declared bankrupt, your bankruptcy debts will be all indebtedness on the day, which means the petitioning amount, any subsequent HMRC amount and any other provable debts that you owe to any other creditors.
DD

london1973

exactly- if you are resolved to it don’t waste any money doing it yourself - HMRC made me bankrupt and it makes no difference whether they do it or you do it yourself-