A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Unilateral Notice... Help!

  • dan1k
  • dan1k's Avatar Posted by
  • Senior Member
  • Senior Member
More
10 Apr 12 #322949 by dan1k
Topic started by dan1k
Our formal matrimonial home is being marketed tomorrow on the proviso that the net proceeds of the sale are held to my order by the conveyancing solicitors pending an agreement or court order. My interest has also been noted at Land Registry by way of a Restriction and Unilateral Notice.
My problem is that since agreeing to this my husband has come forward with a large tax bill and he says he needs the profit from house sale to afford this (he has other means to pay it). He says that the HMRC are about to put ''some sort of order'' on the house.
Do I go ahead with the sale? Do I wait for final hearing in July? Can HMRC override my Notice? Please help, need to decide soon!!

  • jonathancj
  • jonathancj's Avatar
  • Platinum Member
  • Platinum Member
More
11 Apr 12 #322980 by jonathancj
Reply from jonathancj
Go ahead with the sale. If he is adjudged bankrupt on a Petition by hmrc before July, you will have a problem. This is because they will automatically become entitled to his half of the money, assuming that the house is owned jointly. If he is the sole owner, they may be entitled to it all. Once a Court order is made, though, this will protect you. Not selling the house won''t help you, though. It would just mean the revenue would own his share of the house instead of the money. They would then insist on the house being sold so they could get their money and you''d be back to where you started.

  • dan1k
  • dan1k's Avatar Posted by
  • Senior Member
  • Senior Member
More
11 Apr 12 #322981 by dan1k
Reply from dan1k
Thank you so much for your advice... I did think that was the case, but someone said to me recently that because the judge at FDR said all equity in the house should be awarded to me and 2 young children the house would be ''safe'' from HMRC, but I realize that FDR is just that and not a court order.
I think HMRC comes before anyone?!

  • dan1k
  • dan1k's Avatar Posted by
  • Senior Member
  • Senior Member
More
11 Apr 12 #322982 by dan1k
Reply from dan1k
Another quick question - to be declared bankrupt by HMRC does this mean that they will look into all his business affairs, or do they just put an ''order'' on the house and leave all his other affairs out?

  • dukey
  • dukey's Avatar
  • Moderator
  • Moderator
More
11 Apr 12 #322985 by dukey
Reply from dukey
Yup HMRC get their money before anyone else, if he is declared bankrupt a receiver will be appointed so creditors can make claims, the receiver will then look to liquidate his assets to try and meet the debt.

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
More
11 Apr 12 #322987 by hadenoughnow
Reply from hadenoughnow
This may be a daft question but what is the point of him going to final hearing if any assets he has are likely to be swallowed up by debt? Surely it would make sense to go with the judge''s direction at FDR? Or is there something that says hmrc will only accept a court ruling and not a Consent Order?

Hadenoughnow

  • dan1k
  • dan1k's Avatar Posted by
  • Senior Member
  • Senior Member
More
11 Apr 12 #322990 by dan1k
Reply from dan1k
That is what the judge said at FDR... If he has known for some time that HMRC will ask for the tax and thus the house then why didn''t he make sure his family got it? It is a bit more complex as I have recently unearthed evidence that suggests that he has put the exact amount for the tax bill in a family member''s bank account.
I think the bankruptcy card could be a ruse to stop me going to a final hearing, by saying there will be nothing left in the ''pot''. Last week he asked me to stop proceedings without a settlement, saying HMRC are the only winners!

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11