This sounds like HMRC strong arming to try and force him to pay the bill, and I wouldn't be surprised if he will come out of this OK. You would guess that he would have the money set aside to pay taxes, and that this is all about getting the best settlement he can.
But it does raise an interesting point - why is bankruptcy such a bad thing? It is a system to help people take risks, form companies with a safety net beneath them.
In this country people are so scared of it, and see it with such negativity, that it discourages entrepreneurs. Those are the people that generate the real growth and productivity in an economy in this modern age, and why this country is sinking.
But it does raise an interesting point - why is bankruptcy such a bad thing? It is a system to help people take risks, form companies with a safety net beneath them.
In this country people are so scared of it, and see it with such negativity, that it discourages entrepreneurs. Those are the people that generate the real growth and productivity in an economy in this modern age, and why this country is sinking.