What happens if compant DH works for hasn't paid Tax?

[Diskeyes]

Just a query more than anything.

I used to work in the same company as DH, different departments but all wages came from same accounts department. Two of my friends have left recently, they where both in the accounts department (i left back in dec!)

I met up with them to catch up a few weeks ago and its been playing on my mind.

First question, how much do you have to earn to have to start paying back student loan? DH has been above £15k for 2 years now but only just recently started paying it back, sometimes is £50 a month sometimes its double, is this normal?

My friends also said they have a £200,000 tax bill which they have not paid and when she left they didnt have enough money in the bank to pay it, she wanted to warn me because she knows DH is still there.

The company is pretty dodgy anyway tbh, lots of morally wrong things going on left, right and centre which is why I left. However DH's department always seemed "safe"

Friend said she's be surprised if they haven't downsized or closed by this time next year. They have recently take all the shares off their directors to avoid an audit??

DH's wages pay our bills, we don;t get much is the way of tax credits etc... and have a mortgage to pay!!

Does anyone have any ideas?

HM govt. gets their cut (tax owing) before any other creditor. Then the bank/other creditors get what they're due, employees are bottom of the priority list, I think!

I don't know about student loan Q, but I'd be seriously worried about that inside info and the security of your income.

Student loan repayments are 9% of income over £15,000, so if you are paid monthly, repayments should be exactly 9% of pay over £1,250 for the month.

Fortunately, CantSupinate is entirely wrong.

Employees can claim up to 8 weeks back-pay plus some notice pay from the Redundancy Protection Service.

Any fixed charges (eg a mortgage on land and buildings) go first to the chargees ie the bank, but that only affects the charged asset, the other assets of the company (other fixed assets, debtors and stock) are still available.

Next come the preferential creditors. Since 2003 when HMRC lost its status as a preferential creditor, Employees are the main category of preferential creditor, again up to certain limits.

Then come the floating charges, basically the bank.

Finally the unsecured creditors which is everyone else, including HMRC.

So, roughly speaking, employees now come first and HMRC last!