Kate Garraway hit by £700k tax bill for late husband Derek's company

Kate Garraway
Kate Garraway -Credit:ITV

Kate Garraway has reportedly been forced to seek financial assistance after being hit with a staggering £716,000 tax bill from her late husband Derek Draper's company. The Good Morning Britain host has reportedly enlisted the help of specialist firm Hacker Young to manage discussions with HMRC, following the closure of Derek's psychotherapy business, Astra Aspera Ltd, which left her with the hefty tax bill and £184,096.96 in debt.

Earlier this week, Kate, 57, revealed she had dipped into her personal pension fund to help cover the enormous £800k cost of Derek's medical and care bills during his long battle with Covid. Meanwhile, Praespero 100 Ltd, a company run by Kate, saw its assets decrease by £87,043 in 2022, according to the most recent accounts.

The presenter is struggling financially due to Derek's bills, which amounted to £16,000 a month just for basic care and mobility support. A source close to Kate told The Sun: "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.

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"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." It comes after Kate this week revealed on GMB that she'd been forced to cash in her pension.

She told a guest, who has had to pay £15k for their own private healthcare: "You need every penny of that pension. I'm doing something similar myself.

"I've just had to withdraw the bit you can tax-free for my pension to pay belated bills for my husband that passed away. "I am ashamed of the fact that I am in debt because I have an incredible job that I love, that's 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 is very well paid and so I just feel a shame that I couldn't make it work."