Katie Price Faces Second Bankruptcy Due to Unsettled Tax Bill
Katie Price has undergone bankruptcy proceedings for the second time, prompted by an outstanding tax bill exceeding £750,000.
Despite the tax authorities' efforts to engage her on a £761,994.05 debt, she failed to address the issue and was absent from the latest court session.
The HMRC initiated legal action last October, and Judge Sebastian Prentis of the Insolvency and Companies Court in London confirmed that Price's financial obligations to the HMRC are considerable, resulting in an official declaration of bankruptcy.
The debt spans income tax, VAT, and additional charges for the fiscal years 2020-2021 and 2021-2022. Separately, Price was directed by the courts to allocate a major portion of her OnlyFans earnings towards settling existing debts over the next three years.
Further financial scrutiny awaits Price in April. Recently, she incurred a fine for driving illegally in Northamptonshire. Publicly addressing her bankruptcy last year, Price acknowledged frequent court appearances and expressed indifference toward potential imprisonment.
She previously discussed her mental health struggles openly and reaffirmed that bankruptcy should not be a source of shame. Price has been invited to comment but has yet to respond.
The HMRC initiated legal action last October, and Judge Sebastian Prentis of the Insolvency and Companies Court in London confirmed that Price's financial obligations to the HMRC are considerable, resulting in an official declaration of bankruptcy.
The debt spans income tax, VAT, and additional charges for the fiscal years 2020-2021 and 2021-2022. Separately, Price was directed by the courts to allocate a major portion of her OnlyFans earnings towards settling existing debts over the next three years.
Further financial scrutiny awaits Price in April. Recently, she incurred a fine for driving illegally in Northamptonshire. Publicly addressing her bankruptcy last year, Price acknowledged frequent court appearances and expressed indifference toward potential imprisonment.
She previously discussed her mental health struggles openly and reaffirmed that bankruptcy should not be a source of shame. Price has been invited to comment but has yet to respond.
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