Martine McCutcheon declared bankrupt"

[chris watton]

http://www.telegraph.co.uk/finance/personalfinance...

And there was me thinking she was rolling in it, with her 'silky-smooth' yoghurt adverts!

Cripes!

[Adrian W]

Must have been a big tax bill,

funny that article has the usual cop out from an accountant, saying people are responsible for there own affairs, even though they paid an accountant to do it for them.

[Mr_B]

Adrian W said:

Must have been a big tax bill,

funny that article has the usual cop out from an accountant, saying people are responsible for there own affairs, even though they paid an accountant to do it for them.

Eric Mc may comment on this...

[London424]

Adrian W said:

Must have been a big tax bill,

funny that article has the usual cop out from an accountant, saying people are responsible for there own affairs, even though they paid an accountant to do it for them.

I'm going to guess an avoidance scheme gone wrong, with a rather large backdated bill to pay.

[rohrl]

Obviously I blame EricMc for this but more importantly what does it mean? Will McCutcheon be living a frugal life as a result of this or is she able to continue in the style to which she has become accustomed? Will her assets be sold or seized to pay her debts?

I don't know much about this, I've never gone bankrupt or failed to pay my debts and I won't pretend that I don't regard those who do so with suspicion if not outright contempt.

[Adrian W]

doogz said:

Adrian W said:

My accountant tells me how much tax to pay each year. If I've already spent it, that's not his problem.

My comment was a bit tongue in cheek, but your comment hit the nail on the head, he tells you how much to pay, and does the form, and then tells you, if it's wrong its down to you!

[Puggit]

Adrian W said:

Must have been a big tax bill

Telegraph said:

she was made bankrupt by the High Court after failing to deliver the final £82,000 of a £417,000 tax bill.

[rohrl]

Puggit said:

Adrian W said:

Must have been a big tax bill

Telegraph said:

she was made bankrupt by the High Court after failing to deliver the final £82,000 of a £417,000 tax bill.

The £82,000 refers to Kerry Katona I think.

[V8mate]

rohrl said:

Obviously I blame EricMc for this but more importantly what does it mean? Will McCutcheon be living a frugal life as a result of this or is she able to continue in the style to which she has become accustomed? Will her assets be sold or seized to pay her debts?

I'll take her in. Just for one night mind. And she's not allowed to talk!

[Puggit]

rohrl said:

Puggit said:

Adrian W said:

Must have been a big tax bill

Telegraph said:

she was made bankrupt by the High Court after failing to deliver the final £82,000 of a £417,000 tax bill.

The £82,000 refers to Kerry Katona I think.

Quite right - teach me to skim read

[Oakey]

Oh there's a surprise, another TV 'personality' who has failed to pay the taxman and gone bankrupt as a result.

[James P]

Adrian W said:

Must have been a big tax bill,

funny that article has the usual cop out from an accountant, saying people are responsible for there own affairs, even though they paid an accountant to do it for them.

Are you suggesting that as she couldn't pay her tax bill her accountant ought to have paid it for her? Presumably the need to pay tax every January/ July was a complete surprise to her then?

I think it is more likely that she just spent more of her income that she should have done - hardly her accountant's fault.

[Shaw Tarse]

Oakey said:

Oh there's a surprise, another TV 'personality' who has failed to pay the taxman and gone bankrupt as a result.

Will she be downsizing?
Or carry on regardless, as Kerry Katona did?

[Oakey]

Shaw Tarse said:

Will she be downsizing?
Or carry on regardless, as Kerry Katona did?

Well, in true 'celeb' fashion she'll probably fail upwards... so a bigger house and a faster car is probably on the cards.

[StevieBee]

Puggit said:

Adrian W said:

Must have been a big tax bill

Telegraph said:

she was made bankrupt by the High Court after failing to deliver the final £82,000 of a £417,000 tax bill.

According to my celebrity booking agent...on current rates she could cover this off with around 10 supermarket openings, four or five commercial endorsements, one film and 12 week run in a west end show.

[Alex]

Her biggest chance at superstardom was her highly praised stint as Eliza Doolittle in My Fair Lady, yet she quit 5 months early. Why?

[Deisel Weisel]

Alex said:

Her biggest chance at superstardom was her highly praised stint as Eliza Doolittle in My Fair Lady, yet she quit 5 months early. Why?

Because she prefered to do little?

[Catweazle]

StevieBee said:

Puggit said:

Adrian W said:

Must have been a big tax bill

Telegraph said:

she was made bankrupt by the High Court after failing to deliver the final £82,000 of a £417,000 tax bill.

According to my celebrity booking agent...on current rates she could cover this off with around 10 supermarket openings, four or five commercial endorsements, one film and 12 week run in a west end show.

Does that include the tax payable on those earnings?

[Fittster]

Alex said:

Her biggest chance at superstardom was her highly praised stint as Eliza Doolittle in My Fair Lady, yet she quit 5 months early. Why?

Her voice couldn't take it. One off show, OK but she struggled to perform on a regular basis.

[Landlord]

V8mate said:

I'll take her in. Just for one night mind. And she's not allowed to talk!

I doubt the press would pay enough to cover her tax bills just to get some gossip on your bedroom prowess, so I think you'll be safe there.