Hi everyone
Hoping for some advice from this life saving community!
I have nearly concluded my settlement process with HMRC with a final amount yet to pay. My umbrella was elite management and consultancy who in the last few weeks gone into administration with debt/tax liability of £20million to HMRC. Prior to this I had some contact with Elite but they would not entertain writing off any of my “loans”.
Wondering what to expect now? Feel like I’ve dealt with HMRC and tax liability but now have the other issue of what is going to happen to my loans. Is there a likelihood I will have to pay the loan amount back as creditors come knocking or is there potential it can still be written off? If it were to be written off will I be expected to pay more tax on it? Wondering if this could be another felicitas situation.
Cheers
Hoping for some advice from this life saving community!
I have nearly concluded my settlement process with HMRC with a final amount yet to pay. My umbrella was elite management and consultancy who in the last few weeks gone into administration with debt/tax liability of £20million to HMRC. Prior to this I had some contact with Elite but they would not entertain writing off any of my “loans”.
Wondering what to expect now? Feel like I’ve dealt with HMRC and tax liability but now have the other issue of what is going to happen to my loans. Is there a likelihood I will have to pay the loan amount back as creditors come knocking or is there potential it can still be written off? If it were to be written off will I be expected to pay more tax on it? Wondering if this could be another felicitas situation.
Cheers
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