Sunday Solutions Anyone Else Having A Problem

[Bugbear]

[QUOTE=mudders;1060406]I just recieved this from bradbury. im not sure to let the adminstrators know my details or not.



Further to our ongoing correspondence regarding your Partnership Accounts, Bradbury has now completed our works and contractual obligations with your partnership and has submitted all statutory documentation to HMRC. We would report that your Partnership has now ceased trading; all partners within your Partnership have now resigned. Bradbury’s contractual obligations with your Partnership have now been satisfied.



For the avoidance of doubt (as previously advised), Bradbury is not responsible for individual partners 08/09 – 09/10 Self Assessment Tax Returns. Therefore each partner should instruct a new accountant and Bradbury will forward your relevant files accordingly. In facilitating the handover process, Bradbury will continue to support enquiries from you’re appointed accountant but will not be answering individual consultant questions other than via email.



An independent third-party administrator will be appointed to facilitate any final payments due to partners from the partnership, without prejudice. This independent administrator will contact you shortly to officially complete the closure of your Partnership and any distribution of funds due, accordingly.



We would take this opportunity to apologies for any inconvenience this may cause, but would confirm that as accountants, Bradbury & Co provide information and accountancy related services, but DO NOT hold or control partnership funds and cannot therefore authorise the release of funds from the Partnerships.



We would therefore request your patience in this matter and advise that you await contact from the appointed administrator in due course.



Whilst writing we should like to confirm that it will be necessary to pass on individual’s names and contact information to allow the appointed administrator to make contact with you. Should you not wish Bradbury and Co to divulge your details then please advise us of this, by contacting us at [email protected] and stating ‘Decline issue of personal details’ in the subject box.
[/QUOTE

Just had the same - grrrr
Where can I get details of the action group?

[SeriousFraud]

Update

I have been advised from the HMRC Debt Management team to pay whatever I can before 31st January. You then have up to 4 weeks until the end of February 2010 to settle anything outstanding before it registers on their system as a Default.

This, in theory, gives a little time to hear from these so-called `administrators` and to see how much if any actual money will be made available.

Whilst action to recover losses should be taken, it will takes months (if not years) to unravel the scam, meantime (as I was just reminded from HMRC) you are personally responsible for your own tax affairs and payment of any liabilities.

It is therefore very important that you pro-actively make contact with the HMRC Debt Recovery Team on 0845 366 1204 before the end of February if you cannot pay the balance.

Apparently, you can then be given up to 2 years to pay off what you can on a monthly payment plan based on having an assessment of your ability to pay. I would like to know if this last step has any adverse effect on one's credit rating? I sincerely hope not as I have never missed a payment before in my life and as this whole debacle is totally out of my control it would be a travesty.

If only I could go back 2 years and tell myself to avoid Sunday Solutions like the plague.

Also, one other thing I was advised just now by HMRC, you should only file WHAT YOU ACTUALLY RECEIVED AS INCOME on your tax return, meaning as we haven't yet received the so-called `undistributed profits` we should deduct this from our returns which will reduce the liability owed.

So, let's say you had an invoice income in 08/09 into the partnership of £100k

Your return will probably look something like:

income - £100k
less ..
expenses - £15k
bradbury fees - £12k

gross profit - £73k

so tax needs paying on £73k

..

but if Bradbury & Sunday Solutions have already gambled away your `undistrubted profits` then this should be removed from your return:

so if you were owed £18k, £73k becomes £55k.

if you then receive (by some miracle) some of the lost profits, you should class that as income in the current tax year.

This could be an option to reduce liability owed now if you reject Bradbury accounts and ask HMRC to retrospectively update the return.

[FeedtheKids]

So effectively you treat your drawings as the gross figure?

[swilmot]

HMRC figures

So effectively you treat your drawings as the gross figure?

The way I worked it was, profit was
a) Partner Profit share
b) less Expenses Introduced
c) less any unpaid expenses
d) less 'Business set up expenses' - see forecast for this
e) less Undistributed profits.

And then in the notes section detail the above.

I put mine in over a week ago and have spoken to HMRC about payment etc a couple of times and my methods haven't been queried (yet).

Having looked at the figures I reckon it is not far off what it should have been.

Then if I get the 'Undistributed profits', I will deduct the amount of tax paid above and declare the remainder as taxable, less any interest payments incurred in getting the money to pay the HMRC in the first place.

Good luck !!

[swilmot]

HMRC figures continued

I should add that in my belief the 'Undistributed Profits' are actually the monies that were retained for tax purposes, obviously retained in order to gain interest for the 'administrators'.
Given that the costs have also risen substantially, the actual tax liability should then be less than the 'Undistributed Profits'.

Bear this in mind when making your calculations.

Cheers

[oceanblue]

HMRC and accountant advice

I spoke to my accountant this week and he agreed that my fees that bradbury have put down are just ridiculous.
He advised me to submit using the Bradbury accounts but send them in as provisional. This allows me to then submit proper accounts once i have proper accounts from bradbury.

Good advice i thought.
He then said ring HMRC and speak to their payment line and setup a basic arrangement to start paying something, as you have to start doing something straight away.

I will be speaking to citizens advice next week and talking to the Police as i have had enough of this merry go round!

[Microtots'r'us]

More Ponzi snowball type thoughts

[QUOTE=oceanblue;1059296]I have got Fleming Laings accountants to do my tax return. Currently it shows i owe 14k to the HMRC.
They have advised me to send in my tax return as being provisional as i have rejected Bradburys partnership accounts
what they did advise was that i talk to HMRC asap before the deadline of 31st of january as they will be more sympathetic in your payment of the tax owed and no ability to pay!
I have alrwady joined the action group and are awaiting details but i have already contact BBC Watchdog.
I have email fleming Laing to see if they can do more, and email Bradbury to query the fees.
Tomorrow i will ring the police, as this is massive fraud!!

Any more ideas? and how will HMRC react![/QUOTE


Oceanblue
Please be careful.
I do not know who these "accountants" were or what their knowledge is.
I won't even try to comment on them.
But I would be upset that they did not appear to be supporting you.

I suspect you are submitting figures in your Self Assessment based on what ever fabricated or otherwise set of numbers you have been informed is your profit by Bradbury. This would have been notified by Bradbury to HMRC in the Partnership tax return. So this should be the basis for your tax return whether or not you accept Bradbury's statements( I wll explain that later).

So you should have taken Bradbury's figure of profit for you and check if you have had all your taxable expenses claimed that you were entitled to . If not you should adjust this figure to include these additional claims and put the reduced amount on the tax return.

If you do that and put a note on the Additional information page of the tax return to say what you have done you may well be safe. If you have already sent HMRC a tax return you can amend this at any time up to 30/01/20011 so there is no terrible issue so far.

Puttiing the Provisional flag on a tax return and not sorting it out puts up the mark "come and get me" out to HMRC in the event of an enquiry. (So I hope you bought Enquiry insurance first.)

I'm not O K about "agreeing" the statements from Bradbury that they issued originally in November in a 7 page letter that people keep showing me.

1. The information supplied is incomplete and possibly inaccurate.
2. It purports to show your partnership share but does not disclose what the income is composed of - so you have to check your invoices to see if the income matches.
There is a possibility you can verify this or not . But in respect of the varying piles of charges that they show -how do you check on what ? JNot a word of detail. When asked by nice e-mail the silence continues. They don't answer you. Too Busy .
3. These are supposed to be only a part of the Partnership accounts. The Partnership agreement for Heyder Trevino says these have to be produced and AUDITED.
Has anyone seen a set of partnership account either audited or not?
4. Ask questions and you get no response. So how may one acceopt these partnership income share statements or attempts at statements?

My suggestion , if you are still awake, is that you can only say to Bradbury and in Co Limited
" in view of the lack of explanation and clarification together with the failure to supply our partnership account for 2008-9 we are going to use this alleged statement to deliver my Self Assessment for 2008-9, but we accept no liability for this and we do not consider this gives you our agreement to these figures for any other purpose or reason"

I would not wish to attract HM Revenue's attention( I think Mr *****i and colleagues at Sunday Solutions etc may have done enough on that front) so once again go and get help ( try www.taxaid.org.uk for help if you don't want to speak to accountants).
Lost the will to live - so have I.

[SeriousFraud]

Yeah, as tempting as it is to downgrade the gross figure to be the drawings, my accountant has since advised me to do the same as OceanBlue and submit Bradbury's figures initially as a provisional return.

Then, we can adjust the return later on once "all attempts to the best of our ability have failed to verify all items" (meaning undistributed profits are irrecoverable).

It is better to downgrade the figures in line with evidence than have under-declared.

So, let the figures go for now, pay what you can and then change them in accordance with information presented from the Administrators.

[Microtots'r'us]

Smoke generation by numbers

[QUOTE=Bugbear;1060428]

I just recieved this from bradbury. im not sure to let the adminstrators know my details or not.



Further to our ongoing correspondence regarding your Partnership Accounts, Bradbury has now completed our works and contractual obligations with your partnership and has submitted all statutory documentation to HMRC. We would report that your Partnership has now ceased trading; all partners within your Partnership have now resigned. Bradbury’s contractual obligations with your Partnership have now been satisfied.



For the avoidance of doubt (as previously advised), Bradbury is not responsible for individual partners 08/09 – 09/10 Self Assessment Tax Returns. Therefore each partner should instruct a new accountant and Bradbury will forward your relevant files accordingly. In facilitating the handover process, Bradbury will continue to support enquiries from you’re appointed accountant but will not be answering individual consultant questions other than via email.



An independent third-party administrator will be appointed to facilitate any final payments due to partners from the partnership, without prejudice. This independent administrator will contact you shortly to officially complete the closure of your Partnership and any distribution of funds due, accordingly.



We would take this opportunity to apologies for any inconvenience this may cause, but would confirm that as accountants, Bradbury & Co provide information and accountancy related services, but DO NOT hold or control partnership funds and cannot therefore authorise the release of funds from the Partnerships.



We would therefore request your patience in this matter and advise that you await contact from the appointed administrator in due course.



Whilst writing we should like to confirm that it will be necessary to pass on individual’s names and contact information to allow the appointed administrator to make contact with you. Should you not wish Bradbury and Co to divulge your details then please advise us of this, by contacting us at [email protected] and stating ‘Decline issue of personal details’ in the subject box.
[/QUOTE

Just had the same - grrrr
Where can I get details of the action group?

What I can't figure out is how we agreed to appoint new adninistrators?
Did I miss something?
Also who is going to pay for them because no one is going to fork out for another looad of charges at this point ?
This is not what we require more bureaucracy to create bigger clouds mystery.
Sorry no thanks

[SeriousFraud]

What I want to know is who are the other two debtors that seemingly owe the Partnerships money as detailed in the "Where is my retained tax money? - I want it refunded." section of http://www.bradburyandco.com/faqs.html.

We can safely assume the partnership accounts have zero monies in currently and only when The Administrators "have secured repayment schedules, which will in turn form the basis of a repayment schedule to yourself, where applicable" happen will we start getting some of our tax money back. This could take months, if not years to recover these so-called debts? I thought the money was meant to be ring-fenced. I mean, wasn't the interest enough for those greedy b*****ds?