hello all I have a problem regarding import VAT for my business. At the start of the year, I purchased goods from a company in Saudi on agreed payment terms of 60 days from shipping date. When I received the relevant documents, I forwarded these onto my customs clearing agent, who then took care of duty, vat etc on my behalf using their deferment HMRC account, and I would then pay back to them the sum paid in VAT once I had received the goods. however, the supplier in Saudi then changed their minds on the payment terms and insisted on a bank guarantee from me (letter of credit or such like) which I was not in a position to offer. therefore, they changed the consignee for the goods to a company based in the UK with whom they already dealt with, and this company took complete ownership. I then completed my vat return for the period, but HMRC are refusing to issue a reclaim on the vat associated with these goods as my business never took ownership, but of course the agent acting on my behalf had paid the duty and vat on my behalf. the other uk company refused to pay the vat, although they paid the duty element direct to my agent as they had now taken the goods themselves. therefore, I have not paid any sums to the supplier or the agent, and the agent are now trying to take me to court for the outstanding amount they paid originally (£11,500) HMRC still refuse my claim, the company who have taken ownership of the goods have agreed with HMRC that they will pay the vat for these goods in their sales (which will show on their VAT return), and my agent is currently £11,500 out of pocket I have tried speaking with all parties involved without success, and now face the prospect of losing in court and having to make the payment of £11,500 plus costs although I haven't ever actually received any goods any advice on this would be appreciated

thanks citizen I failed to apply to set aside the stat demand as I was negotiating with the company and their solicitors directly (my own fault I know) I have 2 other creditors who are pursuing and I am looking into the possibility of setting up an iva to reduce the overall amount owed and to install a monthly amount to be paid sooner rather than later can you recommend anyone who can help with this?

Hi everyone new to forum and couldn't find appropriate forum to post I was until recently a sole trader and unfortunately due to many factors, I had to close that business and start again, only this time as a director of a limited company. the new company is doing very well, and I am very optimistic about the future. problem I have at the moment is that I have one particular supplier (based in Holland) who are chasing me for payment of invoices for the sole trader business. I have been in communication regularly with their uk based solicitors (who I believe are actually acting on behalf of euler hermes credit insurance group). I have made various offers to make payment in full over a period of time but each offer has been refused. the debt is £75,000 circa, and I have always maintained the intention to repay, but couldn't afford to make large payments to begin with as I have had to wait until the new business becomes more profitable before I can afford to repay the debt - on the offer i made the debt would have been repaid within 12 months. I do not own my own home or car (or anything else as substantial as these) and my only asset is the new business itself. after receiving a stat demand a few months ago, I have now received a phone call from someone who wants to serve a bankruptcy petition against me is there a way I can defend the bankruptcy as I would prefer not to go bankrupt - I have been advised by an insolvency practitioner that I would be best to simply sign my shares in the new business to someone I trust and simply make myself bankrupt, but I really want to avoid this type of action as much as possible any help would be very much appreciated