Question about effect of self-employed earnings on bankruptcy
chickpeaz
Posts: 22 Forumite
On the budget I originally prepared from this forum and from Business Debtline, I included my current monthly total from self employment which is -£48 and this was deducted from my total income amount. However when I came to fill in the bankruptcy application online, it asked me to enter the amount from my last tax return which was a loss of -£38 per month.
Then in my interview I was surprised when the OR said the loss from my self-employment couldn't be offset against the total income, which meant my total income was higher than I had originally shown. It still showed a minus figure though, so I haven't been given an IPA/IPO.
In the interview I asked the OR about submitting my tax return in January for 2017-18 and what effect this would have on my bankruptcy, but she just said 'submit it as normal'. Can anyone tell me if this is likely to trigger an IPA/IPO if I am showing a profit, or what other effect it could have? My self-employed income in 2017-18 was higher than normal (basically because I was technically supposed to be an employee at a previous job but it took them ages to get me put on the payroll).
Then in my interview I was surprised when the OR said the loss from my self-employment couldn't be offset against the total income, which meant my total income was higher than I had originally shown. It still showed a minus figure though, so I haven't been given an IPA/IPO.
In the interview I asked the OR about submitting my tax return in January for 2017-18 and what effect this would have on my bankruptcy, but she just said 'submit it as normal'. Can anyone tell me if this is likely to trigger an IPA/IPO if I am showing a profit, or what other effect it could have? My self-employed income in 2017-18 was higher than normal (basically because I was technically supposed to be an employee at a previous job but it took them ages to get me put on the payroll).
0
Comments
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well no matter how long it took the employer to make you a PAYE employee your start/finish dates on your contract would confirm it as would you P45/P60...and your payslips...Now we all know how it felt to play in the band on the Titanic...0
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