Not paid HMRC or done any paperwork.. how screwed am I?

[mreades]

Yes, I'm registered for VAT. I'm going through the numbers today to see what I owe, I'll also be speaking to an accountant.

[tractor]

..

Yes, I'm registered for VAT. I'm going through the numbers today to see what I owe, I'll also be speaking to an accountant.

It's an unwritten rule but the one organisation you definitely don't annoy is the Customs element of HMRC. I would be interested to know why they have not hauled your backside to jail already?

I believe if you are over 30 days late in filing or paying they are all over you with distraint orders and the like.

Depending on how late you are filing your accounts, it is likely that Companies house may be making plans to strike your company off. In which case your problems are greater than you appear to be imagining. Look up threads here on 'striking off' and 'bona vacantia'

This is an activity entirely out of the hands of HMRC and will happen despite them. I suspect that HMRC rarely object to this thereby preventing the striking off, especially for companies that have yet to file any accounts, simply because they know any monies will end up with the Treasury Solicitor and you will have the devil of a job (and significant extra costs) in resolving it and getting anything back.

[northernladuk]

Be a bit of a bummer if they decide to open an IR35 investigation off the back of this

[tractor]

...

Be a bit of a bummer if they decide to open an IR35 investigation off the back of this

Yes, one could hardly use the defence of 'I was operating as a real business'

[d000hg]

People running 1-man businesses very often do exactly this kind of thing so I wouldn't count it impossible this isn't real.

Reminds me of reading about Siegfried's accounting system in the James Herriot books.

If real, just find your nearest local accountant and phone them up to arrange a visit.

[northernladuk]

People running 1-man businesses very often do exactly this kind of thing so I wouldn't count it impossible this isn't real.

Reminds me of reading about Siegfried's accounting system in the James Herriot books.

If real, just find your nearest local accountant and phone them up to arrange a visit.

Unfortunately I would say this is probably not the best thing to do. Last thing you want in the mix is another accountant that doesn't understand contracting. Also his local accountant would be in Asia which isn't going to help.

Ring one of the people that give good advice and are leaders in contractor specific accounting. InTouch, Nixon Williams, SJD spring to mind.

[d000hg]

Hardly see how he needs a contractor accountant. This is a classic 1-man business screwup, he just needs to dump everything on someone and get them to figure out the paperwork he should've done.

[northernladuk]

Hardly see how he needs a contractor accountant. This is a classic 1-man business screwup, he just needs to dump everything on someone and get them to figure out the paperwork he should've done.

Contractor accountant will have a better view on his expenses and what we can get away with. Any old one man band might suggest divi waivers or not understand accommodation expenses and all that. Don't get me wrong he COULD do that and probably come to some kind of conclusion but much rather do it right.

If he has to dump on someone why not dump it on someone that knows best?

I speak from experience btw. I had a one man local accountant and he screwed it up big style and moved to a contractor accountant and no had a problem in god knows how many years. Maybe I am being a bit anal about it but that is MHO.

[TheFaQQer]

Hardly see how he needs a contractor accountant. This is a classic 1-man business screwup, he just needs to dump everything on someone and get them to figure out the paperwork he should've done.

I concur. From here, someone who understands how to sort out the VAT and other tax mess is what they need - the usual advice and guidance from a contractor accountant would be great if this was a going concern, but all I would think they need is someone to sort out the accounts and deal with the penalties.

[CloudWalker]

Put your hands up and say fair cop to HMRC then Bend over and assume the position.