10k in Debt to Companies House
Hey REDDIT,
I have been contacted by Advantis Credit. I have an OUTSTANDING AMOUNT of £10,000 for Corporation Tax to HMRC. My company is currently active, I have a confirmation statement overdue.
I have not had good luck in making any money through my business.
Some of this is due to the market and some of it is due to bad luck.
I want to keep my business as it's a way for me to make money to have a life in the future. It also has my name on it and I genuinely really tried to make it work last year. I am living a basic homeless life with all my money going on debt. I think working for myself is the best way out of homelessness. I do work really hard and I know it carries a stigma.
I don't drink, do drugs, smoke. I just kind of workout, and try and get my life together.
I recently got some work after a dead period. I have £1,700 and £800 coming in at around the 20th of March. I have been offered some more work and if I do this work I will have another £2,400 at the end of March.
This won't be enough to clear my debt.
Is it enough to pay HMRC in order to set up a payment plan to pay off the debt and still keep actively trading.
I am applying for permanent work as a fall back and putting a lot of effort into this front. I have also applied to make a social media and content creation for small business so I can keep making things and earning.
I don't have any assets and live a really basic life.
Any advice would be appreciated.
Posted Feb 20, 2025, 7:38 PM UTC