Former glamour model Katie Price faces financial turmoil once more as she has been declared bankrupt for the second time due to an outstanding tax bill exceeding £750,000.
Price, who was previously bankrupt in 2019, now owes a substantial sum of £761,994.05 to HM Revenue and Customs.
This latest bankruptcy declaration comes amidst a series of legal battles regarding her finances, with Price failing to appear with legal representation at her recent hearing.
The 45-year-old celebrity has been evading court appearances for several months, with the case being rescheduled multiple times since November 2021.
At the heart of Price's financial troubles are unpaid national insurance and self-assessment taxes, accounting for the bulk of her debt, totaling £535,700. She also faces late payment fines amounting to £40,000.
Moreover, Price is grappling with additional debts, including over £140,000 in outstanding VAT payments and nearly £10,000 in VAT surcharges.
The substantial claim of £761,994 against her suggests that she may be compelled to liquidate assets or real estate to settle her debts, which could potentially include her £2 million Sussex property known as the "Mucky Mansion."
Failure to address her financial obligations could result in the repossession of her assets by bailiffs, posing a significant threat to her financial stability.
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