Katie Price may lose her home due to the bankruptcy of her business and huge debts

Katie Price is trying to avoid paying £174,000 in taxes due to the bankruptcy of her cosmetics business. Jordan Trading Ltd went bankrupt due to debts of hundreds of thousands of dollars, writes The Sun.

Katie liquidated her company five years ago but has a total debt of £3.2 million. Because she also owes £174,000 in taxes, she could now even lose her mansion.

"The taxman can expect to receive just £15,755 - meaning Katie will not have to pay £176,621 in tax," The Sun informs citing Liquidator Moorfields.

Read also: Katie Price shows her latest boob job in mini bikini.