Need some advice please!

Wife has been a complete plonker regarding her self employed job.
Seems shes been filling in the tax return forms as she should but not bothering to sort any sort of payment out, now they knocking on door with petition for bankruptcy!!!!

So as usual it seems its down to me to sort out, i'm employed, work 5 days a week already so i guess another 2 to pay for her ####-up isnt going to hurt!! What can i do to stop them making her bankrupt and all the ****e falling out on me and my credit rating etc etc

Get a tax account to sort it out then.

just ring them and tell them the whole situation and ask to arrange a repayment plan.

Then make sure that every payment your wife receives she puts 25% away in a separate account to cover her tax on current earnings. If she moans, remind her it's not her money, it's the tax mans anyway.

This is where you might have a bit of trouble though, and your position is a little weak as you already owe them money. They will also want payment on account for next year in lieu of money you have yet to earn. This is not because of what has happened but standard practice.

There are a couple of ways round it, but I can't remember how my accountant did it. (was a few years back).

I genuinely wish you luck with this, depends on who you get, can be nice as pie or a nightmare, I've had both (none of the times has it been down to my mistake but employers).

I have learnt that as long as you acknowledge you owe the money (if you genuinely do), and then offer them a fixed regular payment which is reasonable, then you may be okay. If you offer say £200 per month every month until the debt is paid then you have more chance than if you say "I can let you have £50 this month, I might be able to give you a little more next month but it depends, but can't pay in December because of Christmas and so on"

once you have agreed the plan, it's imperative you stick to it otherwise the agreement becomes null and void, and they may ask for all the money in one go.

I once very politely asked if we could come to some repayment arrangement over an outstanding sum (I had it in the bank, I knew I would have to pay it but was just chancing my arm) "Okay, here's the arrangement. you pay us what you owe us by the end of the month and then we won't see you in court." I then asked how they expected me to come up with the amount with such short notice and was told "To be honest, don't know and don't care. Sell your car, sell your shares, sell your house if you have to, we will get our money one way or another. You owe us the money, you know you owe it, the debt must be paid"

Nice eh ?

Talk to them. They are usually pretty ok. Last thing they want to do is bankrupt someone. It costs them more in the long run. Give them a call tell them situation and they will usually arrange a payment plan.

sorry to drop this one in ! but has she been paying her stamp duty aswell ? there just as bad as the tax man ..........

Get in touch with an acountant ASAP.
They should be able to sort it out.
Its the only way to be sure when self employed as they know all the items you can deduct and most of the time the money you save more than pays what they charge you.

Also remember that this is HER DEBT and not yours so be carefull what you do.

ruffday said:

Also remember that this is HER DEBT and not yours so be carefull what you do.

Click to expand...

If you're married it is joint debt.



Personally... I'd get a new wife

But, failing that, i'd go find an accountant to help you out, being self employed no accountant will charge you much to help... if you struggle to find a good one drop me a PM and i'll forwad you the details of mine... really very good and good price for what they do.

I've been telling her for months to get in touch with them and sort something out, but as yet she hasnt bothered to make contact.

She 'says' shes going to the main office this afternoon to try and sort a payment plan for it, but we'll see. I kind of get the impression she doesnt fully understand the implications of being made bankrupt!!

And Bump, i've thought about getting a new wife trust me! This isnt the first time shes left something til it has resulted in court action FFS.

Ditch the bitch.
Simples.