Reply to: Company meltdown

[MrMarsh]

Hi Guys,
I wanted to know what is the best way forward after having a complete meltdown with my Limited company. The downturn last year left me without a job for 9 months, I eventually had to get a permanent position. Needless to say my accounts are a complete mess. I am now facing becoming bankrupt, can one who has gone through something like this give any advice on what to do? I work with financial products and would eventually like to go contracting again in a years time. Help!!

A little late into the discussion - I sympathise - I have had not altogether disimilar problems myself - I know its easy to criticise and in my case I cant think of an excuse but none of us are perfect.... - I'd be happy to give you advice email me. Do takle advice from the CAB bets make an appointment and get a face to face meeting.......

[SueEllen]

To some of the other posts, I was willing to work anywhere within central london.

This explains why you've had problems.

If your course is not every evening you could have told the client (once you got the contract) that you need to start and leave earlier on certain days that way you could take a role further out in London i.e. Greater London.

[Bluebird]

To Bumfluff, I am not pulling anyone's leg! What I wrote is the truth, I joined this forum to get a little perspective.

To some of the other posts, I was willing to work anywhere within central london.

So CG what happened to all the lolly that you should have put aside for taxes ?

If you let us know that perhaps we can help more....

[CityGal]

To Bumfluff, I am not pulling anyone's leg! What I wrote is the truth, I joined this forum to get a little perspective.

To some of the other posts, I was willing to work anywhere within central london.

[SueEllen]

I think CityGirl is pulling our legs to be honest.

Why?

I've met people who run a business and don't know the difference between their personal money and the business' money.

I've also met contractors who have had to go perm because their skills where specialised and experience limited.

[Bumfluff]

I think CityGirl is pulling our legs to be honest.

[darmstadt]

Or you can become an expert in established mainstream technologies and platforms (SAP, .NET, C++, Java, Oracle, etc) and never have a days gap in your career.

Mainframes - non-stop since '81...

[Ardesco]

ok, but the sjd spreadsheet tells you what you can take out of the Co Bank a/c - if you take any more out then you must be aware that you are extracting funds that have been put aside for the Government in the form of taxes and they won't be happy when you can't pay it.

Don't mistake what I said as me making excuses. Not filling in the spreadsheet/taking money out without checking if you owed anything/not getting an accountant to tell you what you owe/can take out is a very stupid way to go about running your own business income or no income.

[Bluebird]

From what the OP originally posted i'm assuming she stopped paying SJD while she was out of work and never got the accounts picked up again when she went permie hence the current state of the accounts.

ok, but the sjd spreadsheet tells you what you can take out of the Co Bank a/c - if you take any more out then you must be aware that you are extracting funds that have been put aside for the Government in the form of taxes and they won't be happy when you can't pay it.

[Ardesco]

shouldn't SJD have told her her liabilities - even if they haven't ensured she paid them.

Their spreadsheet calculates VAT etc, and advises you of the amount you "should" take for divis ensureing that you have enough in the bank to cover all liabilities.

I'd get onto Simon at DJD pronto - he seems an ok guy and I would have thought will help you sort out the mess....

Good Luck.

From what the OP originally posted i'm assuming she stopped paying SJD while she was out of work and never got the accounts picked up again when she went permie hence the current state of the accounts.

[Bluebird]

Boom time for security was about 5 years ago. The rates are still good and will continue to be for years to come.

And to the OP - SJD will charge you a hefty whack to sort this one out...

shouldn't SJD have told her her liabilities - even if they haven't ensured she paid them.

Their spreadsheet calculates VAT etc, and advises you of the amount you "should" take for divis ensureing that you have enough in the bank to cover all liabilities.

I'd get onto Simon at DJD pronto - he seems an ok guy and I would have thought will help you sort out the mess....

Good Luck.

[SueEllen]

Did the OP state she was only willing to work in certain areas of London

Depends what you mean by London.

London could mean either:
1. City of London
2. Greater London
3. Greater London Urban Area which includes places like Woking, Dartford and Hemel Hempsted or basically anywhere on/inside the M25

If it's number 3 then the OP shouldn't have had a problem finding work.

[oracleslave]

Depends what area(s) of London you are talking about.

Did the OP state she was only willing to work in certain areas of London

[SueEllen]

Surely there must have been something going in London in 9 months?

Depends what area(s) of London you are talking about.

[TheFaQQer]

Sort out the VAT man first.

ALWAYS sort the VAT first - they never forget.