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They're taking my business :-(
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I hope you ARE missing something and it's not me who is...
Income tax can be a part of a bankruptcy though. In fact it's probably one of the main factors in most bankruptcies, I'd hazard to guess?0 -
Potbellypig wrote: »I must be missing something. You have earned £20k a year for years and not paid tax on it. How does this fall into your bankruptcy?sortingmyshitout wrote: »I hope you ARE missing something and it's not me who is...
Income tax can be a part of a bankruptcy though. In fact it's probably one of the main factors in most bankruptcies, I'd hazard to guess?
You are both right. Not paying tax when due will result in hmrc taking action and that may very well leave the (non!) tax payer with no option other than bankruptcy. Indeed hmrc can and does make people bankrupt.
I suspect that more people go bankrupt because they can't pay their tax bills, rather than non-declared tax and subsequent bills, but the net result is the same.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 -
interesting
so someone owns (for a period of time) the domain name, which may be worthless alone (unless very attractive if sold on)
someone else designs a website and may hold the copyright/design
the actual trade off the site profits the bankrupt but is specific to the BR
the hosting could be anywhere worldwide
the suffix could be subject to laws in the US or like .NET.... anywhere
methinks the IS is hoping the BR comes up with an offer..........and all the passwords.........lol0 -
Potbellypig wrote: »I must be missing something. You have earned £20k a year for years and not paid tax on it. How does this fall into your bankruptcy?
take or make?
costs and personal tax allowances could wipe taxable profits leaving a nil tax to pay0
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