Hi Guys Some advice please if possible. My mother & father have run a property business for 20 years (basically buy to let properties) and they currently have about 9 properties all mortgaged. During the past 6 years my father has sold about 6 or 7 seven properties, paid capital gains tax as instructed by accountant. They have just had a tax inspection from HMRC and have now been told my father owes 118k and my mother 152k for self assessment tax and capital gains. A letter from HMRC has threatened bankruptcy, which will probably happen as they dont have that kind of money and all the other properties they have are mortgaged and have little or no equity in them given the state of the property market at this time. Please could you advise me if HMRC can take the other properties, or do the bank who they are mortgaged through have the first claim ? To complicate things further my mother is business with my sister, what would happen to this business ? and would my sister be dragged in and made bankrupt ? Any advice would be appreciated.