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After a 5 years of worry...
JustTrying2GetBy
Posts: 1 Newbie
I've had a historic tax debt for over 5 years. The HMRC allowed a payment plan which I paid for 4 years 6 months. £650 a month. I cleared nearly half my original debt. In January this year I could see a problem coming up with cash flow due to a client's employment policy.
In July I paid to wind up my limited company. Despite writing and calling HMRC to tell them of my change of circumstances this week a letter was hand delivered. It was scary, but I have been worrying about this for 5 years and my cash was flowing out every month. I never missed a repayment until July. I've never missed a rent payment. If I had left it any longer we would have bailiffs in our home.
So last night (Sunday) I paid my fees and pushed the button. This morning I got an email saying that my application had been granted. When I walked home from work today I felt a mixture of relief and loss. The idea of not dreading the HMRC brown envelope is an odd sensation. I've applied for a bank account with Nationwide until the fate of my current account is decided.
I await the OR call and hope that I can get my financial life back on track. Thanks for reading and will try and update my story as I go through this yesr.
In July I paid to wind up my limited company. Despite writing and calling HMRC to tell them of my change of circumstances this week a letter was hand delivered. It was scary, but I have been worrying about this for 5 years and my cash was flowing out every month. I never missed a repayment until July. I've never missed a rent payment. If I had left it any longer we would have bailiffs in our home.
So last night (Sunday) I paid my fees and pushed the button. This morning I got an email saying that my application had been granted. When I walked home from work today I felt a mixture of relief and loss. The idea of not dreading the HMRC brown envelope is an odd sensation. I've applied for a bank account with Nationwide until the fate of my current account is decided.
I await the OR call and hope that I can get my financial life back on track. Thanks for reading and will try and update my story as I go through this yesr.
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Comments
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You sound mighty relieved. Onwards and upwards!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Yes, it is very odd. However, I'm pleased to hear you feel you have turned a corner.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
JustTrying2GetBy wrote: »I've had a historic tax debt for over 5 years. The HMRC allowed a payment plan which I paid for 4 years 6 months. £650 a month. I cleared nearly half my original debt. In January this year I could see a problem coming up with cash flow due to a client's employment policy.
Shoulda done it 6 years ago and saved yourself £35K0
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