F
fahrrad
- Original Poster
- #1
I have a question about a financial matter that is a bit complicated. I am self-employed.
I lent my former partner £2600 in 2001 (before I became self-employed) to help him pay off credit card debts. He repaid £1100 by cheque in 2006 and we agreed he would repay the rest at a later date.
I began doing some freelance work as a translator in 2005 and have continued with this work since then. However, I only began declaring my self-employed earnings to HMRC in 2007. The relationship recently turned sour and he hinted he might report me to HMRC, so I went to an accountant and asked him to help me report all my previous undeclared earnings to HMRC. My ex-partner is aware I have done this.
My ex is suddenly now offering to repay me the remaining £1500 he still owes me, but I am suspicious as to his motives for doing this. He is an accountant himself. He asked me how I want the money (bank transfer/cash etc.) and asked me how it would be possible to make it clear that this money is not income from work, since he knows about my freelance work. I said I wasnt sure what to do about that and would get back to him about it.
As paranoid as this might sound, I suspect he might be planning to give me the money and then later claim to HMRC that this sum (£1500) and the earlier sum he repaid (£1100) were for work. This is not true, but I dont know how I would be able to disprove this, and by that point HMRC will already be mistrustful of me since I am about to voluntarily disclose the fact that I dodged tax.
Is there any way I can protect myself if I ask for the money back (which I want to do because he has owed it to me for 8 years now)? Id really appreciate any advice. Maybe its just simpler if I tell him to give the money to charity!
I lent my former partner £2600 in 2001 (before I became self-employed) to help him pay off credit card debts. He repaid £1100 by cheque in 2006 and we agreed he would repay the rest at a later date.
I began doing some freelance work as a translator in 2005 and have continued with this work since then. However, I only began declaring my self-employed earnings to HMRC in 2007. The relationship recently turned sour and he hinted he might report me to HMRC, so I went to an accountant and asked him to help me report all my previous undeclared earnings to HMRC. My ex-partner is aware I have done this.
My ex is suddenly now offering to repay me the remaining £1500 he still owes me, but I am suspicious as to his motives for doing this. He is an accountant himself. He asked me how I want the money (bank transfer/cash etc.) and asked me how it would be possible to make it clear that this money is not income from work, since he knows about my freelance work. I said I wasnt sure what to do about that and would get back to him about it.
As paranoid as this might sound, I suspect he might be planning to give me the money and then later claim to HMRC that this sum (£1500) and the earlier sum he repaid (£1100) were for work. This is not true, but I dont know how I would be able to disprove this, and by that point HMRC will already be mistrustful of me since I am about to voluntarily disclose the fact that I dodged tax.
Is there any way I can protect myself if I ask for the money back (which I want to do because he has owed it to me for 8 years now)? Id really appreciate any advice. Maybe its just simpler if I tell him to give the money to charity!
