Tax liability

[Half Pint]

Hi there. I was a sole trader in the construction industry and I have a tax liability to revenue for a substantial sum. What do they do about it? I have no income at present and it isnt looking to good in the near future. Anyone know what happens. I have no assets.

 

[papervalue]

Hi there. I was a sole trader in the construction industry and I have a tax liability to revenue for a substantial sum. What do they do about it? I have no income at present and it isnt looking to good in the near future. Anyone know what happens. I have no assets.

want to give more details-

1.how was tax amount built up

2. is it income tax or vat(if vat maybe principal self acccounted for it)

3. Do you have 35% tax to use against it

4. Are all returns up to date and any losses to use

5. Want to get some advise from someone who knows the fill position of what you owe

6. Look for a statement of affairs

7. May go for long term repay agreement

8. ignore them and could go sheriff then judgement etc