Hi All, I recently closed shop as I was trading at a loss for the past year. I was operating as a sole trader and now have a huge amount of personal debt. I was extremely dumb and took the ostrich approach. Reality has just kicked in and I am now approaching my creditors/Banks/CU/CC's/Mortgage Company etc etc. to try and get everything sorted (I am in deep).
With regard to two shop specific debts I was hoping I could get some helpful advice here.
I didn't pay any rates to the local city council for this year. The annual liability is 3,300 but as I closed the shop in Mid Sept I feel that my liability should be pro rata for that period i traded. However, the finance office of the Council have issued district court proceedings against me for the full amount. The court date is set for 18th dec but I cannot attend to plead my case as I have just been offered a job to start 16th Nov. I cannot ask for a day off so soon after starting. I don't own the shop and have surrendered my lease back to landlord. Has anyone any experience of this ? I would like to sort it with the council before court and agree a payment plan with them but feel its hugely unfair that I must pay rates even though I am no longer trading.
Next problem, I calculate my Vat Liability to be approx 12k however I have noticed in other threads something about a 75k threshold? I have tried to research on revenue.ie but am a bit confused. I registered for Vat but my turnover this year has been under 75k so must I still pay this years vat? Also if I am liable for this vat are the revenue open to do a monthly payment plan as I literally haven't got a penny.
Thanks