Katie Price, the former glamour model, is facing a significant financial setback as she struggles to pay off her debts. Reports reveal that she owes HMRC a whopping £760,000 in unpaid tax, VAT, and late payment penalties. This massive tax bill is causing a significant strain on her finances.
The Mounting Debt
According to court papers seen by MailOnline, Katie Price has failed to comply with a statutory demand for immediate payment. The papers state that she owes a total of £761,994.05. The majority of the debt consists of unpaid national insurance or self-assessment tax, amounting to £535,700. Additionally, she owes £40,000 in late payment fines, over £140,000 in missing VAT payments, and nearly £10,000 in VAT surcharges.
The claim against Katie Price is considered a “liquidated sum,” suggesting that she may need to sell her assets or real estate to release the necessary funds. Despite being served with the payment demand in October, the paperwork, dated November 2023, indicates that she has not complied with it. The case has been adjourned until at least March of this year.
Dodging Court Hearings
Katie Price has managed to postpone a court hearing regarding her bankruptcy case for the sixth time. The hearing, originally scheduled for next month, has now been moved to the end of April. This delay comes as she fights to hold onto her £2 million Sussex property, known as the “Mucky Mansion.” Katie has accumulated debts of £3.2 million, and the court hearing was meant to address how she planned to repay these debts or prove the property’s importance to her work.
However, during a previous hearing in September, Katie launched into a rage before the proceedings even began. She expressed concerns about screenshots of the online hearing being shared on “tattle sites,” leading to anxiety and fear. As a result, the judge ordered everyone not involved in the hearing to leave the call, and the hearing continued privately.
The Road Ahead
Despite legal restrictions preventing Katie Price from selling her property herself, the case against her continues. The HM Courts and Tribunals Service has disclosed that the next court date is set for April. The struggle to pay off her debts persists, and it remains uncertain how Katie will navigate her financial challenges.
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