Kate Garraway's financial woes revealed: Good Morning Britain star closed firm and faced £700k tax bill as she battled to care for dying husband Derek Draper - as friend says brave presenter's one comfort is that he is 'no longer in pain'

One company  shut down with £184K of debt and another's assets fell by £87KREAD MORE: 'Brave and fearless' husband Derek Draper is 'no longer in pain'

Kate Garraway was facing financial hardship while she was battling to care for her dying husband, MailOnline can reveal.

The presenter announced the death of her husband of 18 years Derek Draper on Instagram on Friday morning and said: ‘Rest gently and peacefully now Derek, my love, I was so lucky to have you in my life.’

Derek suffered a heart attack before Christmas following a long battle with Covid. Kate cared for her husband Derek’s every need while juggling television work and her radio show.

However, his illness was a factor in Kate’s financial woes. The Good Morning Britain star liquidated one company she and husband Derek Draper owned in March last year.

Psychotherapy company Astra Aspera Ltd was shut down with £184,096.96 of debt. the closure landed her with a £716,000 tax bill. Another company, Praespero 100 Ltd saw its assets fall by £87,043 in 2022.

Friends have said heartbroken Kate is ‘bearing up’ after her husband Derek’s death – as ITV told the star she could have ‘as much time off as she needs’.

A friend of Kate’s told the Mail: ‘She is doing okay, she is bearing up and is being strong for her children.’

Kate Garraway was facing financial hardship while she was battling to care for her dying husband, MailOnline can reveal. Pictured: Kate and Derek on April 1, 2023

Kate Garraway with Her husband Derek Draper at the National Television Awards at the Royal Albert Hall on October 31, 2007

Friends have said heartbroken Kate is ‘bearing up’ after her husband Derek’s death – as ITV told the star she could have ‘as much time off as she needs’

Good Morning Britain star Kate Garraway with husband Derek in their London home

Derek suffered a heart attack before Christmas following a long battle with Covid

Psychotherapy company Astra Aspera Ltd was shut down with £184,096.96 of debt. the closure landed her with a £716,000 tax bill

Another company, Praespero 100 Ltd saw its assets fall by £87,043 in 2022

The cost of treating Derek also played into her troubles. Kate twice funded trips to Mexico for extreme courses of therapy to help her husband recover.

Kate told The Sun in March last year: ‘Of course it’s been tough financially.

‘As anyone with a loved one who is seriously ill knows, the costs go through the roof in so many ways.

‘You have to make changes to your home and it affects your ability to work.

‘I had to take long periods off when Derek was first sick, and of course it affects the overall income for the family as he can no longer work.’

Kate who had two children with Derek, Darcey, 17, and their youngest, Billy, 11, said in her emotional Instagram post: ‘I’m sad to have to tell you all that my darling husband Derek has passed away.

‘Derek was surrounded by his family in his final days and I was by his side holding his hand throughout the last long hours and when he passed.

Derek Draper in 2021 with his wife Kate and children Darcey and Billy after returning home from hospital, where he was Britain’s longest suffering Covid patient. He has died age 56

Derek was diagnosed with coronavirus at the beginning of the pandemic in March 2020 and left in a life-threatening condition

Kate revealed she was holding her husband’s hand when he died

‘I have so much more to say, and of course I will do so in due course, but for now I just want to thank all the medical teams who fought so hard to save him and to make his final moments as comfortable and dignified as possible’.

She added: ‘As some of you may know he has been critically ill following a cardiac arrest in early December which, because of the damage inflicted by Covid in March 2020, led to further complications.

‘Sending so much love and thanks to all of you who have so generously given our family so much support. Rest gently and peacefully now Derek, my love, I was so lucky to have you in my life.’

Derek was a former researcher for Blairite Peter Mandelson who became a New Labour spin doctor and later retrained as a psychotherapist after a series of political and lobbying scandals.

Labour leader Sir Keir Starmer is set to write privately to Kate on behalf of the Labour Party.

The presenter announced the death of her husband of 18 years on Instagram on Friday morning

Kate Garraway faced financial hardship as a result of the high costs involved in caring for her husband Derek Draper, prior to his death at the age of 56

The presenter announced the death of her husband of 18 years on Instagram this morning and said: ‘Rest gently and peacefully now Derek, my love, I was so lucky to have you in my life’

‘The strength of character and courage she’s shown, quite simply, is indescribable.

‘She would come into work, every single day, after three hours of broken sleep, plaster on a smile, and sit in make-up having her heartbroken, tear-stained face covered with studio make-up. It was truly remarkable.’

Tragically, Derek was among the first in the UK to fall seriously ill with Covid-19 and was admitted to an intensive care unit as the country entered lockdown in March 2020.

He was one of the country’s longest-suffering Covid patients after being in hospital but never fully recovered after the virus left long-lasting damage to his organs and meant he needed round-the-clock care.

A source close to Kate, who works with her at ITV, told The Sun: ‘Kate has been through hell and back – and, by virtue of her career, it’s all been played out in the public domain.’

MailOnline understands that Derek passed away on Wednesday night in a North London hospital. Kate said that he died surrounded by family.

Derek had been plagued with health woes after contracting Covid in 2020 and suffered a cardiac arrest in early December, with Kate spending Christmas at hospital.

The heartbreaking turn of events came after it was reported Derek was ‘in great spirits’ and looking forward to Christmas with his family.

A source told The Sun at the time: ‘It was sudden and a shock as he had been doing so well and was in great spirits, looking forward to Christmas at home with the family.

‘This setback has been a huge blow for his family and all the people caring for him.

‘Kate has been utterly incredible — by his side while being an amazing mum to Darcey and Billy, and trying to manage their expectations of a family Christmas.’

Derek had been plagued with health issues after becoming seriously ill with Covid in March 2020, when he was placed into a medically-induced coma and hospitalised for 13 months

In an Instagram post on Friday, Kate confirmed that Derek had died after suffering a heart attack before Christmas and thanked the medical teams who fought ‘so hard to save him’

Derek was in and out of hospital after he fell seriously ill with coronavirus at the very start of the pandemic in March 2020, and was left with lasting damage to his organs.

Doctors put him in a medically induced coma and he became the longest-suffering coronavirus patient in the UK after spending 13 months in hospital, apart from Kate and their two children.

However, he was readmitted several times with numerous health issues, including kidney failure, brain inflammation and liver damage.

Following the devastating news of his death, Kate has been flooded with a huge outpouring of support as her celebrity friends have paid tribute to Derek.

Leading the messages of sympathy was her Good Morning Britain co-star Susanna Reid, who simply wrote: ‘Our whole hearts are with you all while Alan Carr said: ‘Oh Kate that’s so awful. Sending you so much love and the deepest condolences.’

Sky News’ Ian King paid a moving tribute to Derek during a live broadcast after learning about the death of his ‘great friend’.

A crestfallen Ian, who studied at University of Manchester with 56-year-old Derek, paid tribute to his friend in an emotional statement on air.

He said: ‘Derek was a sufferer with Covid right from the outset [and] very, very severely affected by that.

‘[It’s] awfully sad news – and very personal for me too because I was at university with Derek more than 30 years ago and I considered him a great friend. My condolences to the family.’

On GB News, Pip Tomson, who is a former Good Morning Britain colleague of Kate’s, also choked back tears at the news.

‘I just want to bring you some incredibly sad, breaking news that we’ve heard in the last few minutes,’ she said.

‘The husband of ITV presenter Kate Garraway – I’m sorry I worked with Kate for a long time so this is really difficult, such a strong woman – her husband Derek Draper who has been in a very serious condition after suffering Covid, he has passed away.’

Good Morning Britain presenter Ben Shephard also shared a message of support for his co-host and longtime friend Kate

Benshared a picture of Derek kissing Kate and wrote: ‘On what has been the saddest of days @kategarraway I’ve been reminding myself of the wonderful times and memories we have all shared together’

Good Morning Britain presenter Ben Shephard also shared a message of support for his co-host and longtime friend Kate.

Ben, 49, shared a picture of Derek kissing Kate on the cheek and wrote on Instagram: ‘On what has been the saddest of days @kategarraway I’ve been reminding myself of the wonderful times and memories we have all shared together.

‘This is how I’ll always think of Derek – bringing you so much joy, your smile says it all, the size of which is matched only by his love for you, Darcey and Bill. Sending all our love Kate to you and all the family.

‘Also thank you to everyone who has reached out to me, I promise I will pass on your messages, I know they will bring Kate so much comfort as they have for the last few years.’