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Thread: Why Do Insolvency practitioners Not Handle Tax properly?

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    Email problem BusNavig8's Avatar
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    Why Do Insolvency practitioners Not Handle Tax properly?

    Insolvency practitioners and Tax Numbers - Not good friends.

    They are supposed to apply for another tax number for the insolvent estate but they dont.

    Any tax refund prior to the date of the final order of sequestration is NOT the estate's money is it the individual money as it represents an overpayment of income tax.

    As far as I am concerned if the insolvency practitioner does not apply for a separate number then the individual can continue to obtain his refunds ad infinitum.

    Sorry the "No" in the thread is supposed to be "Not" - finger problem!

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by BusNavig8 View Post
    Any tax refund prior to the date of the final order of sequestration is NOT the estate's money is it the individual money as it represents an overpayment of income tax.
    It's not the equivalent of an attachable asset?

    Providing the insolvent with a new tax number after the final order makes sense to me. What am I missing?

    Quote Originally Posted by BusNavig8 View Post
    Sorry the "No" in the thread is supposed to be "Not" - finger problem!
    Fixed.
    The trouble with opportunity is it normally comes dressed up as work.

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    Email problem BusNavig8's Avatar
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    Prior to the date of Insolvency, its not an attachable asset, as the date of accrual is prior to the event. After the date of Insolvency, it is an attachable asset. But then "contribution " is usually an issue in most estates in any event!!

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