Katie Price reveals ‘real reason’ for £762k tax bill and insists she ‘didn’t even know about’ second bankruptcy
KATIE Price has revealed the truth behind her whopping £762,000 tax bill.
The former glamour model, 45, opened up on the ‘real reason’ why she didn’t pay the hefty sum she owed to HMRC when asked for it.
Katie opened up about her financial woes while speaking on the Stripping Off With Matt Haycox podcast, which asks guests to ‘bare all’ about money, business and life.
While vaping away, the mum-of-five denied being a “flash person” after she was asked if she had “burned through a lot of cash”.
Katie blamed “lawyers and divorces” for where her fortune has gone, adding: “Yeah, you should always pay your tax, this and that.
“But obviously I went through a breakdown so then I didn’t pay tax and that’s sort of where the bankruptcy thing has come from.
“I will pay it but it just has to be when I’ve got it.”
She went on: “I pay the mum and dad role, I’ve got bills to pay, I’ve got outgoings, I’ve got to live.
“I feel good, because I’m in control whereas before, other people controlled it.”
Katie was first declared bankrupt in 2019 over unpaid debts of £3.2 million.
The cash-strapped star was declared bankrupt for a second time in March this year over an unpaid tax bill of £761,994.05.
But she claims in the podcast that she didn’t realise it is classed as a second bankruptcy.
“Apparently, I’m in another one. I didn’t even know about that. I read it in the paper,” she told Matt.
In April, Katie was served an eviction notice on her Mucky Mansion in West Sussex.
The notice warned all occupants would be booted out of the property at 10am on Wednesday May 29.
But in a new update, Katie has now been given until June 26 to get out of the country pile.
It is understood her mortgage company has given her the extension.
A source said: “She’s been given a bit more time to get her house in order, that’s all.
“There’s absolutely no way she’s going to be allowed to stay there permanently.”
Katie Price's missing millions
The cash-strapped mum-of-five was first declared bankrupt in 2019 over unpaid debts of £3.2 million.
She was declared bankrupt for a second time in March over an unpaid tax bill of £761,994.05.
The demand for payment was made by HMRC last October.
Katie was due to give evidence about her finances at the High Court last month but failed to turn up – holidaying in Cyprus with her new man JJ Slater instead.
Mucky Mansion has been a bomb site for years after it was burgled, flooded and swamped by an overflowing septic tank.
Katie paid £1.35 million for the home back in October 2014 when she bought it from Tory peer Francis Maude.
A notice of eviction addressed to Katie, 45, has now reportedly been pinned to a fence outside her 8,000-square-foot, nine-bed pile.
Katie has been busy sorting out the contents of her mansion and told fans that she is ‘preparing for a yard sale’.
But despite her double bankruptcy and need to flog her belongings, Katie insisted to Matt on his podcast that she is “manifesting to be a billionaire” and is turning down work.
The star says she won’t “do cheap” jobs and has ruled out magazine shoots because they don’t pay her what they used to.