Change of UTR number

T.C.T.C. Experienced MentorRegistered, Tutor Posts: 1,448
One of my clients went backrupt mid 2010. He had a repayment on account. His online tax UTR was altered from his name to "official receiver". Now this still exists, but there is a new number with his name. There appears to be an old UTR with tax on account in the name of the official receiver and a new UTR for my client. Anyone got any experience on this - I will need to explain it to my client? Many thanks.

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    This makes sense. The old UTR now belongs to the OR and you can effectively ignore it. They will deal with it.

    You simply use the new one.
  • JodieRJodieR Experienced Mentor Registered Posts: 1,002
    yes, I agree. HMRC need to keep a record of the amount of tax outstanding on the old record as this is the amount they will tell the official receiver that's owed to them in order to receive a share of any monies which the official receiver manages to raise (ie from the sale of assets). Your client won't ever have to pay the tax due up to when they became bankrupt.
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Thanks for that. Just one other question. As he did not owe tax, but actually had an overpayment left on account, am I right in presuming that this amount will be handed over to the official receiver to distribute amongst creditors?
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    T.C. wrote: »
    Thanks for that. Just one other question. As he did not owe tax, but actually had an overpayment left on account, am I right in presuming that this amount will be handed over to the official receiver to distribute amongst creditors?
    Yes, i would have though so. It's an asset he owned when he went bankrupt so it will be dealt with by the OR.
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