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What Is Tax Distraint?

February 8, 2010

ppTax distraint action is the course of action of taking ownership of an individual#039;s properties to dispose of at auction, as a way to pay off outstanding tax arrears. The taxman has the legal right to take this action without a court ruling, but a specific procedure should be adopted to keep within the rules. Firstly, a letter will be sent to the taxpayer in arrears cautioning that distraint action is about to start. This can be followed by a call to the debtor#039;s property or premises by a Revenue official, so as to assess what property and possessions that are of value might be confiscated./ppRead the full article at a href=http://www.debtnation.co.uk/tax-debt-distraint.htmlTax Office Distraint/a/p/p

Entry Filed under: Debt. Tags: Tax.