SAM50060 - Debt and return pursuit: overview: insolvency

The term insolvency is used to describe both an Individual Voluntary Arrangement (VA) and Bankruptcy (BY) (Scotland - Award of Sequestration).

The Department바카라 사이트™s claim in both types of action is handled centrally by 

  • the Voluntary Arrangements Service (VAS) at EUS Cardiff for Voluntary Arrangements, EIS Bradford/Leeds for bankruptcies and EIS Edinburgh for sequestrations

    And

  • The Insolvency Claims Handling Unit (ICHU) at Newcastle for bankruptcies & sequestrations


The taxpayer may continue to receive income and / or gains that are liable to SA after the relevant date. In this event, the taxpayers tax affairs to the date of the bankruptcy / VA must be separated from those from that date.

Where an SA taxpayer continues to receive taxable earnings after the relevant date a second SA record, with a different Unique Taxpayer Reference (UTR), is required.

SA function SET UP POST BY / VA INDIVIDUAL is used to create a new SA record for the period following the BY / VA and the computer will automatically allocate a new UTR.

When the new UTR is set up by using SA function SET UP POST BY / VA INDIVIDUAL the UTR of the

  • Original SA record is automatically stored on the new record
  • New SA record is automatically stored on the original record

Further information on how taxpayer records are affected is available in section 바카라 사이트˜Bankruptcy바카라 사이트™ (SAM106000).