Katie Price declared bankrupt for second time

katie-price-declared-bankrupt-for-second-time
Katie Price declared bankrupt for second time

Katie Price, the former glamour model, has been declared bankrupt for the second time due to an unpaid tax bill amounting to more than £750,000. The court was informed that Ms. Price failed to respond to the demand made by HM Revenue & Customs (HMRC) for the £761,994.05 debt since October last year. The bankruptcy order was made in the Insolvency and Companies Court on Monday, even though the celebrity did not appear for the hearing.

Insolvency and Companies Court Judge Sebastian Prentis declared that Ms. Price owed a substantial debt to HMRC, which comprised income tax, VAT, surcharges, and interest stemming from self-assessments for the years 2020-2021 and 2021-22. Notably, the celebrity had previously been declared bankrupt in 2019 over unpaid debts. In another High Court dispute over unpaid debts, a different judge ordered Ms. Price in February to pay nearly half of her income from the adult entertainment website OnlyFans for the next three years.

Last week, Ms. Price was fined £880 for driving without insurance and a license in Northamptonshire last August. A hearing in April will scrutinize her finances, as revealed in the court on Monday. Last summer, Ms. Price had discussed her bankruptcy on Michelle Visage’s Rule Breakers podcast, where she expressed her lack of concern if she were jailed. In March of last year, she had also disclosed her struggles with her mental health in recent years.

According to reports, the HMRC had pursued celebrities who have unpaid taxes. Among those pursued were actors, musicians, and reality stars who have significant earnings from their careers. The tax authority has published a guideline assisting people who may have tax payment issues due to coronavirus. The guideline helps them approach the authority for support using different options available to them

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