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Tuesday, 06 March 2012 09:39

Can I Keep A Tax Rebate If Bankrupt?

Written by  Jon
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My husband went for bankruptcy himself and this went though on February 14th this year, to be discharged in a years time. He has had no assets taken, due to not having any and no repayments are to be made as there is no spare monthly income in the household. He owed around £24,000.

Yourquestion:   Yesterday he received a tax rebate for the tax year 2005/2006 for £955 which I believe needs to go straight to the official receiver, but are there any circumstances in which he can keep the rebate or a portion of? As the rebate is not from this year and we are expecting a baby in 4 weeks time and as mentioned we have no spare money whatsoever and still have plenty of expenses! Many thanks

Answer:  Your husband needs to advice the Receiver of this rebate and in all probability they are going to take it for the bankruptcy.  Your husband and try and explain the situation and how some of the rebate would be gratefully needed if he were allowed to keep some of it, but it will be the Receiver's decision.

 

Regards,

 

Jon

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