Claiming expenses, dividends, salary retrospectively? Mess...

[JamJarST]

OK, that's fine, and thanks for feeding back but you don't make any suggestions? What I'm looking for is advice on what is the best way to resolve it, do you have a recommendation? I'm more than happy to contact HMRC and ask them for guidance but every time I call them I get a strong Indian accent I can only half understand referring me to their website.

I know this is not what you want to hear, but pay an accountant to sort this out for you.

[AngelFlonne]

I found my local HMRC phone number, I'll see if they can advise me tomorrow, HMRC have been very helpful in the past. If they're no help for some reason I'll look at an accountant, anyone advise where to look for one?

[quackhandle]

Do a search for 'Accountant' on here, there are one or two current threads about this.

qh

[Wanderer]

I found my local HMRC phone number, I'll see if they can advise me tomorrow, HMRC have been very helpful in the past. If they're no help for some reason I'll look at an accountant

Get an accountant and do what xoggoth and Hex said. You will still have to get an accountant to do your year end anyway so might as well get advice on how to (legitimately) minimise your tax bill at the same time.

DON'T ask HMRC for advice or they will tell you to treat it all as salary and screw you for a bomb of tax.

[Taxless]

OK, that's fine, and thanks for feeding back but you don't make any suggestions? What I'm looking for is advice on what is the best way to resolve it, do you have a recommendation? I'm more than happy to contact HMRC and ask them for guidance but every time I call them I get a strong Indian accent I can only half understand referring me to their website.

My initial response indicated that you needed professional input. You are in a mess and you need someone to put you straight.

HMRC do not give tax mitigation advice because they are not permitted to do so. If we all pay very little tax then the man on the other end of the phone might end up out of a job.

If you get any direction from them it will be along the lines of paying yourself a salary as at the level you will make contact with, they do not appreciate the benefits to you of paying dividends.

If you ring them and start telling them what a mess you have gotten into and that you have messed up your records etc. then you really will be asking for it.

Get yourself an accountant.

[xoggoth]

Get proper advice by all means but an accountant will still need the details . Set up income, expenses, bank and director's loan account sheets so you can give whoever an accurate assessment of what the situation is. If you give them only a vague picture it will cost you more.

As is said, keep all your personal account statements and make a note of what any significant inputs are, four years on you may not remember. You don't want HMRC saying some repayment of a loan to a mate or whatever is income.

[AngelFlonne]

Hmm, consensus seems to be an accountant, of course, no prizes for guessing that would be the answer. I'll check those threads @quackhandle thanks for posting them and good advice again @xoggoth. I know what I'll be doing this weekend then.