by msp on Wed Feb 24, 2010 5:42 pm
If the figure is 35K could it be paid over a period or would they have the right to seize my share or all of the house. Time to pay will depend on how serious they think the matter is, and also on your ability to pay. They are more likely to seize moveable assets or start County Court action than put a legal charge on your property or begin bankruptcy proceedings and take the house. It is rare for a family home to be taken.
To make matters worse my old accountant has told me that he returned all my records which I know he hasn't otherwise I could have done a new set of accounts if the Tax people allowed it. Surely it's just a case of amending one or two figures? Or is it more complicated than that?
I was also thinking of gifting my daughters my house and paying them rent. Is this to avoid potential HMRC action as a creditor? It wouldn't work, it's too obvious. And would it really be a gift? Would they truly be able to throw you out, sell up and keep all of the money? If not, then it wouldn't be a true gift. (Are they 18 or over?)