Recent content by Dazzler66

  1. Dazzler66

    Dealing with Personal & Business Debt

  2. Dazzler66

    Dealing with Personal & Business Debt

    Cindy, following my first post i engaged with StepChange. However they advised me to contact Business Debt line in relation to the dissolved business. So In advance of contacting them i was simply trying to understand whether any folk might have had experience with different solutions. I was not...
  3. Dazzler66

    Dealing with Personal & Business Debt

    Hey guys, me again 😉 I am open for any ideas around how I can deal with the following debts: Personal debt - mostly unsecured debts. I’m working with StepChange. The income / expenditure form shows that I have no surplus money to pay any creditors. It’s looking like bankruptcy is the only...
  4. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Right, very clear. Thank you so much and thanks everyone
  5. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Hi @Lisa Thomas If I'm going personal bankruptcy, my concerns are more around the debts I owe to my now struck off & dissolved business?
  6. Dazzler66

    How do i deal with this quagmire!!

    Thanks Cyndy, no I haven't yet but I think I need to. I want to ensure I do the right thing here. @Lisa Thomas or @Chris Callaghan I would be really grateful for any thoughts on my dilemma which I've summarised above in this thread.
  7. Dazzler66

    How do i deal with this quagmire!!

    That's the crux of the matter, I lived on my Directors Loan Account......can you see the dilemma? So effectively I lived on money in the form of the DL, to a company that has since been struck off & dissolved.
  8. Dazzler66

    How do i deal with this quagmire!!

    I certainly would if I could, however, because I'm being chased to submit my Self Assesment it would effectively show I had zero income for that year
  9. Dazzler66

    How do i deal with this quagmire!!

    Thanks everyone for your imput to my previous question. So my current situation is as follows Small Ltd Company has been struck off & dissolved. This is after I walled away from the business following a total breakdown, lost our home, my wife & children and I eventually ended up homeless on...
  10. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Thank you all for your guidance and clarification. However, I think what this is really helping me with is to write the question better so that everyone has the context. I'm going to write them out now
  11. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Hey, can you clarify this. So are you saying that I would record the loan as 'income' for that FY in my Self assesment. But that i wouldn't necessarily be liable for tax on that loan due to the fact the business was struck off earlier this year?
  12. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Apologies, yes my Directors Loan was c£70k and no i didn't pay any interest on it
  13. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Hiya, basically the only money I had in that FY was from my Overdrawn Directors Loan account in the business that has since been struck off. Strictly speaking in that FY other than any money associated to the business, on a personal level it would be zero?
  14. Dazzler66

    Ltd Company - now dissolved & struck off, but im being chased for my Personal Self Assessment

    Hi, so I was on this forum a couple of years ago and I gathered some really useful information. Off the back of that I completely walked away from my business which was finally dissolved earlier this year has been struck off companies house. I owed c£70 for my DLand c£15k in Corppration Tax...
  15. Dazzler66

    I have a couple of questions around the SpongeBob plan

    100% correct Lisa. My anguish is purely down to the potential for us to lose our family home - effectively them having to suffer as a result of an issue being brought about by me, regardless of how those circumstances came about. I’m following the initial advice given. And if HMRC come knocking...
See more
Top Bottom
Community
Articles
Menu