Bankruptcy

[Eliza329]

Hi there,

I am new to this site, not sure whether I have posted in the correct place so please advise if not!!

My partner and I are both applying for personal BR at the end of the month.

He was self employed (had to stop trading last July/August I think it was) for approx 20mths and had to get another job which he has been in for the past 5mths or so.

The business doesnt really have any creditors (wasnt much overheads), although he has a personal HMRC debt which we will have to include in the BR.

Anyway, we are ensuring that all the accs are upto date before BR and noticed that at the beginning of the business a few invoices were sent to clients showing VAT amounts when we werent actually registered for VAT or should have been charging it as we hadnt obviously made the threshold.

This was a genuine mistake and didnt know how it would be dealt with by the Official Receiver in BR, can anybody advise what we should do??

Many thanks

Eliza329

[oldeagleeye]

Unfortunate circumstances but not the end of the world Eliza. As regards those invoices. Don't complicate matters otherwise the OR might think that you have be collecting vat illegally. Just put the full amount down on the form listing amounts due to creditors - and assets etc. The less paperwork you dump on the OR the better.

Don't forget this an oportunity to write off all your debts either. Hire purchase - credit cards or even utilities. And finally. Don't be intimidated by the OR. I used to have a lady friend worked in the OF office and they are usually quite helpful if people are straight with them as to the total debts.

Hope the info helps. Rob

[Eliza329]

Hi there,

Many thanks for the response!

Eliza329