GET ME OUT OF HERE!
I have a LTD client of several years who, at the brink of insolvency due to poor management, is slow to provide me with information, and is generally lacking in responsibility to the business, it's customers and staff.
The two shareholder/directors approached me at the beginning of last week to say that they feared the company would run out of cash by the end of next week, so I wrote to advise them to contact an Insolvency Practitioner immediately to discuss their options. After one director came back from a long weekend break, they finally saw the Practitioner who has told them to try and carry on at this stage. This is possible as I have found a substantial bill they paid twice and have asked for a refund!
How do I get out of this engagement when I know that they are in a predicament and quite incapable of recording their transactions and filing returns etc, and are probably unable to afford to switch accountants?
They are local and I am worried about the impact on my reputation if I am seen as 'jumping ship', but at the same time I know that things are only going to get worse, and I could easily find myself embroiled in a situation of them arguing about the business with me in the middle! I am already finding it difficult as both directors pull me aside to 'chat' about their position and future plans, and I have to keep saying that I am unable to give answers that could give rise to conflict.
I would appreciate any (helpful) comments...
- Self assesment online 1,027 12
- US/UK Dual Citizenship 250 11
- HMRC filing meltdown? 574 15
- client can't/won't pay 1,969 42
- Tax Credit Office opening hours 123 1
- Selling Capital Allowences from Self Employed to Ltd Buisness 113 4
- Payment of tax due on 2014/15 Self Assessment tax return 116 2
- Non resident income. 476 21
- Why do I do this every year 464 10
- UKBA financial requirements for spouse visa 294 22
- 'My colleague fills in his own Self Assessment" and he/she claims,x,y and z" 182 3
- Hobby Horse 816 8
- What sectors to target? 622 30
- FYAs on second-hand vans 281 7
- Rent a room scheme query. 198 3
- Watch out self-assessment scam e-mail 312 5
- closing limited company 207 2
- VAT when selling on Amazon 134 1
- Childcare voucher schemes 264 9
- IHT and US resident 82 1
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 938
- Underpaid VAT assessment and relation to SATR 655
- Did you realise Google will not patch android exploit ... 605
- Latest phishing scam 583
- Cashback for opening business bank acct = trading income? 421
- Auto Enrolment Questions Answered 316
- Scratch Head 248
- Loan benefit after person ceases as director/employee 240
- Sabbatical payments 201
- Negligible Value Claim 181