Unable to continue paying revenue by installments

PaddyThai

I owed revenue tax and we entered an agreement to pay a lump sum and then pay the balance in installments.
I manged to pay the lump sum and the first installment afet borrowing from the credit union.
Work has now completely dried up and the future looks bleak.
I cannot see how I can live day to day not to mind paying revenue.
My next direct debit installment will not be honoured by the bank as I am already overdrawn.

I understand revenue will have no choice but to take legal action which will result in seizure of assets to the value of the monies owed + interest and penalties. In my case I rent an apartment and own two vehicles which are currently for sale.

Don't have a question as such but wondered if anyone out there had experience of this type of situation and could comment.

Victor

Tell them sooner rather than later and explain that you are selling the vehicles.

exaisle

You should contact Revenue in Limerick and explain your circumstances and that you are selling the vehicles. If you succeed in selling either, then a payment to revenue (even a minimal payment) on account is likely to buy you at least some goodwill.
There are thousands of people in your situation so it won't be anything new to them. If the Revenue decide to pursue you for the unpaid tax, then it's likely that they will send a warrant to the local revenue sheriff.
If you get a letter from the sheriff, contact him. In my experience, the sheriff is more "talkable to" than the people in the Collector General's office in Limerick. Explain that you have no saleable assets. The sheriff isnt interested in taking your telly or your fridge and remember that he is running a business and his first thought is to get his own costs paid. So, given that second hand household goods have no real saleable value, if he is happy that you have nothing that he can sell on easily to raise funds, he will probably send the warrant back to Revenue marked "no goods".
What the Revenue do after that is unclear. If you owned your own home, they could probably take a charge on it, but my guess is that the matter will rest there.
The biggest mistake that people who owe Revenue make is ignoring the problem, hoping that it will go away. My advice is to make contact earlier rather than later....get the name of the person that you are dealing with and if you need to contact Revenue again, contact the same person.
This is just my tuppence ha'worth...hope it helps.

ScouseMouse

exaisle wrote: »

You should contact Revenue in Limerick and explain your circumstances and that you are selling the vehicles. If you succeed in selling either, then a payment to revenue (even a minimal payment) on account is likely to buy you at least some goodwill.
There are thousands of people in your situation so it won't be anything new to them. If the Revenue decide to pursue you for the unpaid tax, then it's likely that they will send a warrant to the local revenue sheriff.
If you get a letter from the sheriff, contact him. In my experience, the sheriff is more "talkable to" than the people in the Collector General's office in Limerick. Explain that you have no saleable assets. The sheriff isnt interested in taking your telly or your fridge and remember that he is running a business and his first thought is to get his own costs paid. So, given that second hand household goods have no real saleable value, if he is happy that you have nothing that he can sell on easily to raise funds, he will probably send the warrant back to Revenue marked "no goods".
What the Revenue do after that is unclear. If you owned your own home, they could probably take a charge on it, but my guess is that the matter will rest there.
The biggest mistake that people who owe Revenue make is ignoring the problem, hoping that it will go away. My advice is to make contact earlier rather than later....get the name of the person that you are dealing with and if you need to contact Revenue again, contact the same person.
This is just my tuppence ha'worth...hope it helps.

Agreed. Talk to Revenue. Whatever chance you may have is based on dialogue. This will be nothing new to them. You are one of many. They will have heard it all before. Talk to them and see how you get on. Please post again and let us know what happens.

mark renton

PaddyThai wrote: »

In my case I rent an apartment and own two vehicles which are currently for sale.

what type of cars and how much?

Mr. Incognito

John Pm the user- advertising is prohibited on Boards.

wytze

had a similar experience, contact them regularly keep them updated on your situation and it will buy you more time. Don't do what i did and ignore the problem.

p.s the sheriff is far more helpful than revenue in limerick

Builderfromhell

Thanks for the open and frank advice guys.

John, both vehicles sold to pay off other debts.

Since posting on here others have PM'd me with similar problems seeking advice and an update.

The frightening thing is, so many people are at the end of their tether and see no way out.

My advice to them so far has been to hang on in there. These tests will ultimately make you stronger. I've been close to death several times in my life but never gave up.

Stranded in a mine field on Thai Cambodian border, robbed by Khmer Rouge with an AK47 in Cambodia, crashed motorbike in Jungle in mountains on Thai/Burmese border.

Life goes on. we have to continue to persevere.