Katie Price, once a highly successful glamour model with a net worth of around £40 million, has seen her fortune dwindle dramatically. This culminated in repeated bankruptcies and a financial collapse that has left many questioning how she ended up in this situation.
In March 2023, Price declared bankruptcy over an unpaid tax bill of £761,994.05, marking the third time she has declared bankruptcy in five years. The HMRC demanded payment in October 2023, covering self-assessments for 2020-2021 and 2021-2022, including income VAT, tax, surcharges, and interest. During a London's Rolls Building hearing, insolvency and Companies Court Judge Sebastian Prentis stated, "There is a substantial debt due from Ms Price to HMRC, and therefore, I will make a bankruptcy order".
