9. Bankrupt continues to trade
Your responsibilities when trading continues after bankruptcy.
When trading continues after bankruptcy, the bankrupt retains responsibility for the submission and payment of VAT Returns covering post-bankruptcy periods. It is therefore important that the trustee informs the Enforcement and Insolvency Service (read section 1.4) if the bankrupt continues to trade beyond the date of bankruptcy.
We will establish the pre-bankruptcy position to allow us to lodge a claim, make a repayment to the office holder, or operate Crown set-off (read section 13) as appropriate.
If you have tax to account for in respect of your period of office, you must not include this tax on the business’ post-bankruptcy returns.
We’ll issue forms to you on request to allow you to account for the tax.
Completed forms should be returned to the Enforcement and Insolvency Service.