VAT Debt

Turnover

Hi, I owe just under £50K to HMRC. They have gone down the distraint route to recover the money. I've been told that the auctioneers will turn up next week to remove equipment and a van. I can't see that the goods will raise anything like what is owed.

What I need to know is what do they do after the auction?

Cheers

JPS29

Under what status was the VAT debt incurred? was it a limited company etc?

Turnover

As a sole trader. Cashflow was very tight then the bank withthrew my overdraft. Things mounted up.

Cheers

fermi

Have you spoken to or looked at www.taxaid.org.uk?

They have a good section on HMRC and Tax debt here: Tax debt

They are a charity that gives advice, and they do have a helpline I think.

Also perhaps: Business Debtline

Another "not for profit" advice agency.

Turnover

I'll take a look.

Cheers

fermi

Turnover wrote: »

I'll take a look.

Cheers

Good. I've no idea how much they can help.

Let us know how you get on.