Skint Katie Price ‘living part-time’ at Kris Boyson’s home after full extent of her financial crisis is revealed
The former Page 3 star, once said to be worth £45 million, is spending an increased amount of time at her boyfriend's house - and she's bringing the kids' stuff with her
KATIE Price has swapped her Sussex mansion for a semi-detached pad in Kent - at least on a part time basis.
The cash-strapped star spends some of the week living at boyfriend Kris Boyson's pad, which is located on an estate around 60 miles away from her £2million home.
Katie was seen arriving at Kris' pad in her bright pink customised Range Rover, she then unloaded some of her children's belongings and took them into the house.
The former Page 3 star had driven herself in the luxury vehicle after her ban was lifted earlier this month.
She's splitting her time between her house and Kris' as the stress of her financial crisis takes its toll.
A source told The Sun Online: "Katie was in desperate need of a change of scenery, so spending more time at Kris' was the obvious choice.
"She spends a few days there during the week, and then heads back to her place in Sussex.
"And as she's trying to sell the house, she doesn't want to be around when the estate agents are carrying out viewings."
Katie, 40, also hates being in the house when the kids aren't there.
The source added: "The house holds so many bad memories for Katie, so she hates being there on her own.
"So if she doesn't have all the kids, she heads to Kris. She also takes the younger kids to Kris' when she has them - which is why she's taken some of their toys there."
Katie's new living arrangement comes after The Sun Online laid bare the extent of her money worries.
She is mired in personal and business debts worth nearly £500,000, with nearly half of that being owed to HM Revenue & Customs in unpaid tax bills.
Her company Jordan Trading Ltd is currently being closed down and overseen by an independent liquidator.
According to the latest liquidator’s statement of payments and receipts, publicly available on Companies House, the company owed £192,376.85 to HMRC and had trade debts of £25,745.54.
This included owing £13,012 to accountants Spencer Hyde Ltd and £7,526 to the London lawyers Simkins, who specialise in defamation and libel cases.
In total, there’s claims of £266,569.08 from five creditors.
Currently, there’s no repayment plan in place and negotiations are continuing.
The situation is further complicated by the fact that Katie, who is the sole director, has taken out £152,478 from the business, which is called an ‘overdrawn director’s loan account.’
In these circumstances, Katie should have to pay it back, then pay off her creditors, which would total over £410,000, which may be a struggle as she's on the verge of declared bankrupt.
The only assets she has is her Loose Women contract, which is stated on the liquidator’s report as earning her £10,000 over the course of 12 months from 16 Feb 2017 to 15 Feb 2018.
As the company owes over a quarter of a million, it would take her 25 years of appearing on the hit ITV show to pay off the debt.
There’s also a possibility that HMRC will investigate further as she's a ‘serial offender’ for shutting down companies that owe huge amounts to the taxman.
Katie avoided bankruptcy earlier this month after her team attended court and asked for a individual voluntary agreement (IVA).
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