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CAN I INCLUDE MATRIMOANAL DEBT FROM H M R C

kitkent
Posted by
Junior Member

27 Jun 13 #399083 by kitkent

Topic started by kitkent

CAN I INCUDE H M R C MATRIMONAL DEBT IN MY SETTLEMENT

dukey
Moderator

28 Jun 13 #399123 by dukey

Reply from dukey

Are you asking if debt is considered when deciding how to divide assets?, if so yes it is.

If you type in block capitals you''ll be ignored, just a tip.

kitkent
Posted by
Junior Member

28 Jun 13 #399126 by kitkent

Reply from kitkent

Morning
Thanks
I am a sole trader and the h m r c debt
Started in 2004 and with a visit and interest I thought I would include it in the divorce settlement
As we enjoyed holidays etc
It just seemed unfair that I pay all the tax etc and the ex walks away with the profit

dukey
Moderator

28 Jun 13 #399128 by dukey

Reply from dukey

2004 is a long while ago, when agreeing a settlement it''s the here and now that counts, money owed to Mr tax man from years ago will have little importance, bar the fact the money, or some is still owed.

It''s all about what you both have, marital debt, and how best to divide what''s left.

kitkent
Posted by
Junior Member

28 Jun 13 #399130 by kitkent

Reply from kitkent

Morning
But the h m r c debt has not gone away it is included in the settlement now
What I think I was getting across was that its a debt incurred 10 years into the marriage
Is there any debt I can''t include
I know about personal credit cards

dukey
Moderator

28 Jun 13 #399133 by dukey

Reply from dukey

If the debt is paid it''s hardly a consideration, you must focus on the here and now, not ancient history.

Debt you have right now today will be considered.

Shezi
Moderator

28 Jun 13 #399162 by Shezi

Reply from Shezi

I think kitkent is saying that the debt was incurred a long time but that it remains a debt today - in which case it should still be a current liability.

If that''s the case though, I''m surprised HMRC have not requested repayment by now

Shezi

Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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