Statements

[centurian]

I have transfered money from my business account to another account (to get better interest), however the acccountant is asking to see statments from that account also. As its a current morgage account it has some personal transactions on it and Im not going to be giving the accoutant copies. The money I transferred is still in the company so its not a loan or dividend, just moved. What happens if I dont provide them?

At worst, they could refuse to do the accounts and ask you to go elsewhere.

However, they probably won't want to turn away the business, so they will likely do everything possible to ensure that they are exposed as little as possible. Expect a caveat to be added to the return which will cover themselves while drawing maximum attention to the fact if Hector reads it.

In future, also expect them to start advising the most risk adverse tax strategies (i.e. highest cost to you).


Put yourself in their position. In order for them to fully understand the financial situation, they need to see all the evidence of the company's assets. If a client deliberately witholds that evidence, they will be extremely wary in your dealings. The client could be money laundering / drug dealing / terrorism in that account for anyone knows.