All sorts of trouble .... (Tax & VAT)

[tractor]

One other thing I didn't see in the thread is protecting your current contract, in case the tax situation in the company goes pear-shaped you will want to protect that revenue stream. Perhaps some of the brolly people here can provide advice on whether it is preferable (or even possible?) to move the contract out of the company and to a brolly asap?

That was the first thing Cojak suggested on p1

[DaveB]

So a small update ....

Seems the 60k was split across:

VAT
18601.23

CT
615.72
155.95
19409.26
14424.97

PAYE
1737.37
258.34


55202.84 in total, they cant even figure out what the other 5k went on ....

Having updated free agent it looks like still 30k owed

Going in the right direction though!

[SimonMac]

Sorry to hear your situation, not just the debts but the marrige too.

What is your wifes role in the company? is she a director too? Also what has happened to the money that is owed in VAT, CT & PAYE that has not been paid, if its not in the company anymore? Have you taken it as dividends/salary, or has it gone from the company unaccounted for. There is a chance that HMRC could push for you to get the police involved if the money has just gone from the company.

(PS Don't divorce the wife, if it goes pear shaped and you go bankrupt take her with you)

[helpplease]

Just off the phone from HRMC, got a lady on the phone who was super helpful and sympathetic to the problem.

No VAT return has been submitted since the last one which was March 2013.

They estimate I owe 32k but she said thats unlikely to be that high (but free agent is saying 30k) so i'm guessing its about right

The wife is the other director, the money has just been coming out as dividends, stupid of me to not look more .... but like i say, when i saw the 60k coming out, it kinda made me think things were in hand.

[Mincepie]

It sounds a right old mess but you're going in the right direction at least. Get a new accountant lively and get them to deal with old accountant and HMRC. I would suggest sacking the wife from her bookkeeping role rather sharpish as well.

Chin up and keep plugging away at it but most importantly keep invoicing as its the only way out of the hole

[helpplease]

It sounds a right old mess but you're going in the right direction at least. Get a new accountant lively and get them to deal with old accountant and HMRC. I would suggest sacking the wife from her bookkeeping role rather sharpish as well.

Chin up and keep plugging away at it but most importantly keep invoicing as its the only way out of the hole

Cheers

Still waiting for a recommendation on accountant though ... don't wanna get in bed with another JSA !

[Contreras]

Cheers

Still waiting for a recommendation on accountant though ... don't wanna get in bed with another JSA !

I'd suggest that although this is a priority you should speak to a few (at least three, say) before engaging one, even if this tales a week and bit to sort out.

Nixon Williams, WhitefieldTax and Maslins make valuable contributions on these forums and are clearly experienced dealing with HMRC, but there are others too.

Don't go on recommendations alone however, discuss your situation by phone and see what they have to say. No need to hop on a plane just yet.

[jmo21]

So does wife have a share of dividends too and been spending them like no tomorrow?

[stek]

So does wife have a share of dividends too and been spending them like no tomorrow?

I was wondering that - the money must have gone somewhere. Perhaps she was having an affair with Darren Upton...

[Alan @ BroomeAffinity]

Cheers

Still waiting for a recommendation on accountant though ... don't wanna get in bed with another JSA !

Don't expect this to be included in a standard monthly fee either. You're likely going to need a lot of early input so set aside a couple of grand to pay your new guy too.