I've received a HMRC Distraint Notice. What can bailiffs take?

A bailiff who is instructed by HMRC to collect a company debt can only distrain over the company’s property, not over the assets of its director – even if you owe the company money – in the absence of a court order known as a third party debt order (“TPDO”).

Only the company – or a creditor of the company who has obtained a TPDO – can pursue you for monies you owe to the company. Accordingly it appears likely the bailiff is seeking to seize the company’s property not your property.

If you are considering emigrating it may be worth considering a voluntary liquidation of the company which will allow you to resolve the overdrawn loan account and get on with your life.