I have had a pretty awful weekend, and i would really appreciate any advice. I worked for a year as a locum and was advised to set up a limited company and appoint an accountant. I had absolutely no idea on any of this and still dont to be honest. After i finished my first year I actually went back into University and currently a student, I decided to let my accountant know that Iwanted to file my tax returns and close my company down. My accountant then sent me a tax bill (~£2000) and told me to withdraw all my funds from my business account apart from the amount needed to pay the tax, and i should pay the tax soon and then close the account.
Now he did all this for me by the end of January, I then called HMRC in February to pay my tax, but was told they couldn't take payments over the phone as I was well within the deadline and would need to pay online. Since then I had a lot going on personally and also had exams and other pressures and basically didnt bother paying the tax until last this weekend as the deadline was approaching. When I tried transferring funds from my HSBC business account i received the news that my account had been closed and my funds trasnferred to company house. I was so shocked and could not believe what had happened, and basically had no notification from anyone that this had happened since May. I have been doing some research and it looks like that my money (which was owed to HMRC anyway) has been transferred to the "crown" and I need to claim it back.
I understand that there are two routes to go about this: Restore my company or apply for the discretionary grant. From what i understand as my funds are pretty small, i wouldnt need to restore my company as this is pretty expensive and would just need to apply for the grant from the treasury.
I was hoping someone could enlighten me on how bad a situation I am in? I mean its so ridiculous that I worked so hard to earn enough money to put myself through university and by leaving my tax money aside ive just lost it. Feels like I've been robbed.
Will the process to obtain my money be extremely difficult?
Any help would be appreciated
Now he did all this for me by the end of January, I then called HMRC in February to pay my tax, but was told they couldn't take payments over the phone as I was well within the deadline and would need to pay online. Since then I had a lot going on personally and also had exams and other pressures and basically didnt bother paying the tax until last this weekend as the deadline was approaching. When I tried transferring funds from my HSBC business account i received the news that my account had been closed and my funds trasnferred to company house. I was so shocked and could not believe what had happened, and basically had no notification from anyone that this had happened since May. I have been doing some research and it looks like that my money (which was owed to HMRC anyway) has been transferred to the "crown" and I need to claim it back.
I understand that there are two routes to go about this: Restore my company or apply for the discretionary grant. From what i understand as my funds are pretty small, i wouldnt need to restore my company as this is pretty expensive and would just need to apply for the grant from the treasury.
I was hoping someone could enlighten me on how bad a situation I am in? I mean its so ridiculous that I worked so hard to earn enough money to put myself through university and by leaving my tax money aside ive just lost it. Feels like I've been robbed.
Will the process to obtain my money be extremely difficult?
Any help would be appreciated
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