Model Katie Price has been declared bankrupt for the second time by a High Court judge due to a “substantial” unpaid tax bill.
The model Katie Price has been declared bankrupt by a High Court judge over a “substantial” unpaid tax bill.
During a court hearing on Monday, it was revealed that the former glamour model had failed to address the debt owed to HM Revenue & Customs (HMRC). The demand for payment was issued by HMRC in October of last year.
Price, who had previously been declared bankrupt in 2019 due to outstanding debts, did not appear at the brief hearing. The court was informed that the outstanding bill stems from self-assessments for the tax years 2020-2021 and 2021-2022, encompassing income tax, VAT, surcharges, and accrued interest.
Judge Sebastian Prentis of the Insolvency and Companies Court, presiding at London’s Rolls Building, stated, “The debtor has not responded, and the documentation is in order. Ms. Price owes a considerable sum to HMRC, and therefore, I will issue a bankruptcy order.”
In February, Price was directed to forfeit 40% of her earnings from OnlyFans, an adult entertainment website, for the next three years as part of a separate dispute concerning outstanding debts.
Scheduled for April, she is set to address inquiries about her financial situation in that particular case.
The bankruptcy ruling follows a £880 fine imposed on Price a week earlier for driving without insurance and a license in Northamptonshire last August.
Discussing her bankruptcy on Michelle Visage’s Rule Breakers podcast in August 2023, Price mentioned her frequent court appearances, stating she wouldn’t be bothered if she ended up incarcerated.
In March of the previous year, she opened up about her mental health struggles on Jeremy Vine’s Channel 5 show, emphasizing that bankruptcy shouldn’t carry stigma.
During an October 2020 hearing regarding her finances, the former model admitted to being unable to adequately manage her affairs or fully comprehend the situation due to her mental state.
Katie Price, also known as Jordan, has been a prominent figure in the media for years. From glamour modeling to reality TV, she has been in the spotlight for quite some time. Her ups and downs have been heavily documented, and this latest news is just another twist in her story. It goes to show that financial struggles can happen to anyone, regardless of fame or success.
Let’s use this as a reminder to always stay on top of our finances and seek help when needed. While bankruptcy might seem like a setback, it’s important to remember that it’s possible to bounce back. Let’s wish Katie the best and hope that she finds a way to overcome this hurdle. Stay tuned for more updates and let’s keep the conversation going. Take care!
Read More: Bankrupt Price to lose half of OnlyFans income
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