accountants keep my vat gain from flat rate

[Kylie4485]

I was with a MSC before I set-up my own company.

My company was my own one with me as the only shareholder. The accountants were the directors. Have had lots of problems with them. The company is still not closed.

Also now realised - they kept the difference in the VAT. The company was registered with the flat rate scheme - which I only found out when I asked how I claim the VAT back on a laptop I bought.

I am sure all the MSC providers did this. They also charged v high monthly fees for their 'serivice'. Interestingly they were selling the VAT savings after the April changes - to remain with them.

Would be interesting to know if you can get the money back....

I am considering writing to them to see what reaction I get.

Are you able to give us a name?

[Bluebird]

I was just looking over the figures from the last year I was with a brolly.

I've calculated that if the Brolly Company that I was director & shareholder of was registered for FRS, then they would have collected in excess of £1000 more than they actually paid to Hector.

I know it's not a huge amount, but I'm feeling pi$$ed off at the moment - apart from "no chance" what do people loke Lisa & Kylie reckon my chances of getting any money back are ?

[Kylie4485]

I was just looking over the figures from the last year I was with a brolly.

I've calculated that if the Brolly Company that I was director & shareholder of was registered for FRS, then they would have collected in excess of £1000 more than they actually paid to Hector.

I know it's not a huge amount, but I'm feeling pi$$ed off at the moment - apart from "no chance" what do people loke Lisa & Kylie reckon my chances of getting any money back are ?

Hi Bluebird

Sorry to hear that

Highly unlikely as the company will be protected in their terms and conditions. If anything this thread and your post will make people more aware of reading any of their contracts and seeking advice before signing anything.

If you would like to post the The terms, I will be more than happy to have a closer look

Kylie

[Bluebird]

Hi Bluebird

Sorry to hear that

Highly unlikely as the company will be protected in their terms and conditions. If anything this thread and your post will make people more aware of reading any of their contracts and seeking advice before signing anything.

If you would like to post the The terms, I will be more than happy to have a closer look

Kylie

as I started with them some while ago, and left during 05/06 tax year I didn't keep any of the info.

I did ask the company the question [ it was JSA ] and they said that "The VAT scheme for all our companies are registered under normal VAT schemes"

[jo99]

Are you able to give us a name?

I know the MSC has appeared on this and other IT contractor forums....

I was with them for a few years so I need to go back and see how much they owe me.

Would be interested in finding out if anyone has managed to get their money back.

[Robot]

I know the MSC has appeared on this and other IT contractor forums....

I was with them for a few years so I need to go back and see how much they owe me.

Would be interested in finding out if anyone has managed to get their money back.

Did they also keep the PAYE incentive? That could have been easily another couple of hundred quid!

[Lewis]

I was with a MSC before I set-up my own company.

My company was my own one with me as the only shareholder. The accountants were the directors. Have had lots of problems with them. The company is still not closed.

Also now realised - they kept the difference in the VAT. The company was registered with the flat rate scheme - which I only found out when I asked how I claim the VAT back on a laptop I bought.

I am sure all the MSC providers did this. They also charged v high monthly fees for their 'serivice'. Interestingly they were selling the VAT savings after the April changes - to remain with them.

Would be interesting to know if you can get the money back....

I am considering writing to them to see what reaction I get.

Yep, I was with the Jolly-Green-MSC for many years, I bet my MSC was on Flat Rate but I got nothing back either. Considering they won't even compensate me for a mistake they made with my NI I have little hope they would pay out on this. I'm actually glad HMRC clamped down on them now.

[jo99]

what PAYE incentive?

[Robot]

what PAYE incentive?

Financial incentives

There will be financial incentives for employers with fewer than 50 employees to encourage them to make the transition from paper to e-filing earlier. All qualifying employers who successfully e-file for these years will receive the payment shown in the table, including those who are already e-filing.

End of Year Return

2004/05 2005/06 2006/07 2007/08 2008/09
Incentive £ 250 250 150 100 75

Most agents are employers, so will have to prepare to meet their own obligation to e-file as well as considering how they will help their employer clients with e-filing. Agents can also help their clients by letting them know that this change is coming. Agents should establish that they will meet the electronic submission requirements. Agents who want to e-file and are already using payroll software should contact their software provider to ascertain which of the 2 services (Internet service or EDI) it will support and from what date, and the range of electronic forms and returns it will support (e.g. forms P14, P35, P6, P9 etc).