Kate Garraway 'forced to seek help over £700k tax bill' after withdrawing from pension
Kate Garraway has reportedly had to seek help from professionals after being hit with an enormous tax bill. The Good Morning Britain host has enlisted the assistance of specialists to help her tackle the eye-watering fees, which occurred after she closed her late husband Derek Draper's firm.
Kate, 57, is said to have been handed a £716,000 tax bill from Derek's psychotherapy company, Astra Aspera Ltd. The firm was shut down with £184,096.96 of debt, according to The Sun, and its closure has left Kate with the huge tax bill.
OK! has contacted representatives for Kate Garraway for comment.
The mum-of-two, who lost husband Derek in January, has reportedly turned to London financial experts Hacker Young, who specialise in handling discussions with HMRC. The company helps individuals and businesses with "tax investigations and litigation support".
A source close to Kate said: “It’s no secret that Kate has had a lot of financial burdens to deal with including Derek’s medical and care bills and the inevitable collapse of Derek’s company. Kate has wisely sought some help and is working with a team to help guide her through addressing all these debts as speedily as possible.”
Kate has made no secret of the debt she's found herself in, mainly due to Derek's medical bills, which totalled around £16,000 per month just for basic care and mobility support. Derek needed round-the-clock care during his four-year battle with the devastating effects of Covid.
The TV personality previously estimated that her debts are around £500,000 to £800,000. Kate recently revealed she's been forced to withdraw money from her pension to pay off these bills.
During a discussion about the NHS and private care on Good Morning Britain, Kate said: "I have had to withdraw the bit you can tax free from my pension to pay for belated bills for my husband, who has now passed away. People are having to do things - it wasn't a huge pension in the first place - which aren't what they saved for."
And during a GMB episode in March, Kate expressed that she was "embarrassed" to be in debt, as she said: "I'm ashamed of the fact I'm in debt, but I'm also proud."
When asked why she was embarrassed, Kate continued: "Well, because I have an incredible job that I love, that is very well paid. I'm not a carer, travelling miles, paying their own transport to go and help somebody for minimum wage. I'm somebody that's very well paid. So, I just feel ashamed that I couldn't make it work."
