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Scottish Trust Deed Forum
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Topic starter
26/10/2016 2:10 pm
Hi, I wonder if someone could clarify things for me. I am sure this has been answered before, but I can't find it.
I entered a deed many years ago, I am all discharged, both myself and trustee.
I have always been self employed and was asked when I signed up if I had unpaid taxes, which I did not. But, I said I had not been sent any tax forms for several years, not since I had de- registered for vat, as my income had fallped. This is about 12-15 yrs ago, even though I have been at the same address, I have never received any bills or demands, and I have never claimed any benifits. I have not worked since the end of deed, because of illness, but have been lucky to have been kept and looked after by my partner.
My question is now after many very lean yrs, I want to try and grow a business, but am suddenly worried the hmrc might come out of the wood work. I was told prior to my deed starting that any bills not entered in the deed but possibly owed would be covered by the fact the trust was advertised in the Ed gazette, and that hmrc would pick it up if they were interested. If not the 'potential' debt would be wiped out from anything prior to the deed start date. I seem to read elsewhere that is true, but could you confirm this as I value all your objective and very helpful advice. Many thanks in advance
26/10/2016 5:54 pm
Hi Joe51.
Almost all debts that existed at the time you started a trust deed would have been included in it, even if one was forgotten by accident. The advertisement of the trust deed (these days the initial entry on the register of insolvencies) serves the purpose of alerting potential creditors.
Any tax liability that arose after a trust deed had begun would not be covered by it.My understanding is that no time limit exists within which this would need to be collected prior to it becoming unenforceable (unlike some other type of debts where time limits might exist if certain conditions were met).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
26/10/2016 6:09 pm
Dear TDA,
Thank you so much for that conformation, I thought it was that, and I am only interested up to the time the deed started, and what might have been owed prior to that.
I just want to feel that now really is a clean start.
Very many thanks, and as always thanks to everyone for being there !
26/10/2016 6:31 pm
A pleasure Joe51.
Best wishes with your business plans.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
