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News - 17 April 2013

Government seeks to secure debts against homes

Inside the recent Budget there was a proposal that HM Revenue & Customs (HMRC) plan to increase the use of charging orders on people with outstanding tax bills. This could mean that people will face having their properties used as security against their tax bill.

If a charging order is granted it means that a debt is secured against the property and an entry is placed on the Land Registry to confirm this. So if the property is sold, the debt will be repaid out of the money the sale generates. However, a charging order doesn't give any rights to force the sale of a property. The property could only be sold if a further court order was obtained, called an "order for sale".

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The people who may be affected the most are the self employed and anyone who does a self-assessment tax return, which will now include many people affected by this year's Child benefit changes. Usually creditors will apply for a charging order to get security against a debt and are not particularly interested forcing people to sell their property. If they were to apply for an order for sale there would be a hearing at a county court and they'd have to show strong enough evidence for a district judge to approve it.”

If you are unsure and need any help and advice on Self Assessment, or you need to keep abreast of changes in legislation and how it could impinge upon your business, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail:

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