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[tigers_gonads]

As above

I'm bankrupt.

Right here is the question.

I know that I can re start up the business today.
I know I have to use my old business name.
I know that I can have a basic bank account.

I have being told by people in business that if I start the business up today, the reciever will not take try to take money off me until the end of my first year after they have seen my first years accounts  :-/ :-/

I have also been told that I can earn what it says on my tax code ( 5700  :-/ ) per year before the reciever can touch me  :-/

So if I say my turn over for the first year is £15,000 ( money coming in )  :-/
My outgoings for the year is £8,000. of which is taken up with buying goods for the jobs / petrol / work clothing / phone bill / insurance ect   :-/

So that leaves me with £7000 
If my personal tax allowance is £5700,
That leaves me with £1300 taxable profit

The taxman will want 25% of that 
So that leaves £975 for the reciever to split up around any creditors  :-/ :-/

Im I looking at this correcty because the reciever won't tell you sweet blank all 
All they do is watch and try to catch you out so they can sh*ft you for anything they can 

No links please
Just strieght advise because my head is going to implode over this

PM me if you have any storys and don't want it live on the forum  :-/

[I_want_an_Omega]

Citizens Advice ?

[tigers_gonads]

You go down there and take a ticket and sit down with the smack heads and alcoholics for 3 hours until its your turn.

Then they say they don't know and make a apointment for you to see someone else 2 weeks down the line     

Thats CAB in Hull anyway Rob 

As im sure you have guessed, i've had dealings with them before 

Cheers anyway

[r1]

have you tried a credit union? dont know if they have any branches up your way.

[Brikhead]

 
Thats CAB in Hull anyway Rob 

Thats C.A.B. everywhere...
Did you turn up for the appointment?

[tigers_gonads]

 
Thats CAB in Hull anyway Rob 

Thats C.A.B. everywhere...
Did you turn up for the appointment?

Yes 

They couldn't understand why the reciever was been so cagey but they didn't know the rules themselfs 

When I asked the reciever herself, all I got was  ............. after expences, we will put it in the pot and share it around 

When I ask if that is weekly / monthly or at the end of the financial year when the books are submited, all you get is urm then silence 

As far as I can see, they just seem to make up there rules as they go along 

If I could get some sort of figure then I could work this to my advantage 

Spoke to a lass I know who worked in the tax office for 15 years today.
When I told her the story, she just laughed and said the bast**ds don't even know themselfs and advised me to go for it ........ BUT ............. for the last 6 months, spend every penny spare on tools ect for the business and ONLY leave anough cash in the bank to pay direct debits so its harder for them to work out a patern for my ernings 

I know the recievers job is to rake in as much as they can in the alotted timescale but when you have basicly have nothing but want to do something about it, all thy want to do is play games 

[pirate]

go for it and get a good accountant mate, also some legal specilists will give you half an hour for free and give you good advice,

[tigers_gonads]

A few years back, my head stepped sideways in a big way with all the stress and sh*t in life.
It was the most terifying thing I have ever known   

Its took me 3 years to slowly get my life back in some sort of order, sort out all my depts and problems then banish a few demons from the past that had been screwing me up for a long time 

My sence of humour is bordering on the sick side and with my background ( ex forces ), I will take the pish out of anything and anybody but believe me, I don't take the pish out of people with head problems anymore 
Not when you have been there 

Now all I want to do is bloody WORK 

[hoofing it]

Just a small point is that you can't be a director of the business you can only be an employee on  p.a.y.e.
You can only as you have said have a basic bank account.
You CAN'T set up direct debits and all current direct debits WILL be cancled so get your wife to transfer all D.Ds to here bank account.I got stung with this one.
Lastly only take minimum wage and you won't need to pay anything towards the bankruptcy.
Your trusteed will want all you payslips every 6 months.
Good luck

[tigers_gonads]

Right i'm signing off the dole ( not like I ever recieved any money. national insurance only  )

Going to start up the business today via self assesment and 'dangle berries' to the lot of them 

If the reciever wants to bitch about it, 'dangle berries' to them aswell 
I've little chance of getting a job round here at the moment so its either work for myself and they might get something 
Or sit on my arse for the next 6 or 7 months and they will get nothing 

Basic bank account sorted 

I will start kicking a few doors today to see if I can drum up some work 

If anybody round my way needs a sparky or alarm / cctv man, pm me 

Thanks all 

[51M0N]

Thats CAB in Hull anyway Rob 

correct

[dragonlord]

As above

I'm bankrupt.

Right here is the question.

I know that I can re start up the business today.
I know I have to use my old business name.
I know that I can have a basic bank account.

I have being told by people in business that if I start the business up today, the reciever will not take try to take money off me until the end of my first year after they have seen my first years accounts  :-/ :-/

I have also been told that I can earn what it says on my tax code ( 5700  :-/ ) per year before the reciever can touch me  :-/

So if I say my turn over for the first year is £15,000 ( money coming in )  :-/
My outgoings for the year is £8,000. of which is taken up with buying goods for the jobs / petrol / work clothing / phone bill / insurance ect   :-/

So that leaves me with £7000 
If my personal tax allowance is £5700,
That leaves me with £1300 taxable profit

The taxman will want 25% of that 
So that leaves £975 for the reciever to split up around any creditors  :-/ :-/

Im I looking at this correcty because the reciever won't tell you sweet blank all 
All they do is watch and try to catch you out so they can sh*ft you for anything they can 

No links please
Just strieght advise because my head is going to implode over this

PM me if you have any storys and don't want it live on the forum  :-/

don't set up as a sole trader

yes your may be disqualified from being a director but other people aint


set it up as a limited company in a relatives name and a couple of nominal share holders

and get them to employ you on a limited pay or casual basis

OR can only look at your pay then not the company earnings or assets.

and you pay will be so low the OR wont be able to touch it

then just sit back to your discharged in a year if you aint been a really bad boy and had a restriction  order  ;)on you

[tigers_gonads]

I'll look into that 

Had a word with the tax man this morning.
They wouldn't do it on the phone and are sending me some paperwork and a letter with some questions to be answered 
Guess the reciever has had a word already 

At the end of the day, I did not tell any porkys on the bankruptcy petition and the judge signed it so I am dept free and there is sweet f a the reciever and taxman can do about it 

As the old business is gone and this is a new business ( even though i have to trade under the old name ) i'm now trying to get start up funding through the Royal British Legion for a van / test equipment and any training I can 

[Darth Loo-knee]

Good Luck Steve 

Remember, no one can ever knock a tryer. .

[tigers_gonads]

Good Luck Steve 

Remember, no one can ever knock a tryer. .

cheers Daz