Tweet
Re: Unregulated Business Loan - Mint Bridging - ne1 heard of them? R they Benaim?
Hi again,
I've found this briefing paper which lays out the way bankrupt's assets are dealt with. I appreciate your husband isn't bankrupt as yet however I would have thought matters should be dealt with in a similar way prior to an Order being made. Page 9 deals with family homes and would indicate that the trustees can only look at your husband's share of the property. http://researchbriefings.files.parli...78/SN05178.pdf
You'll note the comment at the bottom of the paper mind. Proper legal advice is needed to protect you and the children. Would there be any way of raising the money to 'buy' his share out yourself. Can family/friends help? I know it's a big ask just trying to think of any other options to this bridging loan.
The sale may take some time all the while the interest is accruing at an exorbitant rate. It may be there is no other option but if you can get agreement to a further extension and provide an 'undertaking' to pay HMRC as soon as sold it's worth trying.
I really hope this works out for you. Just sorry none of us have to real expertise in this area to pin things down for you more thoroughly.
At least you have a week or so to try and speak to HMRC and also get some specialist tax advice (which is what you need) before the 31st.
All the best
Hi again,
I've found this briefing paper which lays out the way bankrupt's assets are dealt with. I appreciate your husband isn't bankrupt as yet however I would have thought matters should be dealt with in a similar way prior to an Order being made. Page 9 deals with family homes and would indicate that the trustees can only look at your husband's share of the property. http://researchbriefings.files.parli...78/SN05178.pdf
You'll note the comment at the bottom of the paper mind. Proper legal advice is needed to protect you and the children. Would there be any way of raising the money to 'buy' his share out yourself. Can family/friends help? I know it's a big ask just trying to think of any other options to this bridging loan.
The sale may take some time all the while the interest is accruing at an exorbitant rate. It may be there is no other option but if you can get agreement to a further extension and provide an 'undertaking' to pay HMRC as soon as sold it's worth trying.
I really hope this works out for you. Just sorry none of us have to real expertise in this area to pin things down for you more thoroughly.
At least you have a week or so to try and speak to HMRC and also get some specialist tax advice (which is what you need) before the 31st.
All the best
Comment