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Katie Price ‘to avoid mammoth £174,000 tax bill as company goes bust’

Cosmetics company 'owed hundreds of thousands'

Katie Price could swerve a £174,000 tax bill in the latest news reports about her, according to The Sun.

The tabloid reports Katie‘s insolvent cosmetics company Jordan Trading Ltd owed hundreds of thousands when it went bust.

The company – which handled the former glamour model’s perfume and make-up range – was put into voluntary liquidation five years ago.

Other business ventures such as her equestrian range are believed to be run separately.

Katie Price wearing a mask in BBC documentary
Claims about Katie Price finances are made in latest news reports about her (Credit: BBC)

Katie Price latest news

According to The Sun, the liquidator’s most recent report filed at Companies House lays out sums Katie owes.

She reportedly owes £192,376 to HMRC, £25,746 to “trade and expense creditors” and £152,478 to the directors loan account.

Read more: Real reason for Katie Price and Carl Woods’ split ‘revealed’: ‘It’s the end of the road’

However, the liquidator reportedly anticipates the taxman can expect to receive just £15,755.

That indicates the insolvency firm expects unsecured creditors will receive approximately 8.19p for every pound they are owed.

And The Sun claims this means Katie will not have to pay £176,621 in tax.

HMRC can reportedly request for a further breakdown within 21 days.

Meanwhile, other creditors could receive just £2,108 from the £25,746 they are owed.

Will Katie swerve paying £176,621 in tax? (Credit: BBC)

‘£56,000 fees’

The liquidator says in its report it is claiming £56,553 in fees and expenses for dealing with the insolvency.

That’s because it apparently spent ‘longer than anticipated’ dealing with the directors’ outstanding loan account. They also had to operate around Katie’s bankruptcy.

Katie Price spent time in Thailand in recent weeks
Katie spent time in Thailand in recent weeks (Credit: YouTube)

Katie was due to appear at the High Court in February to explain her attempts to pay off her debts.

Read more: Katie Price’s sister Sophie Price reveals she’s engaged hours after Katie ‘splits from fiancé Carl Woods’

However, she is said to have avoided this court appearance by reportedly agreeing to a last-minute deal.

Reports claim Katie has debts of £3.2 million. She was once said to be worth £45 million.

ED! has contacted a representative for Katie Price for comment.

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