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...
- Taxfiler - SA100 - More efficient? 513 5
- See you all on the other side 645 6
- 12Pay 368 2
- dividends 498 2
- R&D 279 1
- Quarterly Reporting - The Logistics 1,136 17
- Auto enrolment contribution rates 420 3
- How long are you waiting for appeal reply 361 4
- Borrowing money to loan to company 328 1
- Mother as Guarantor for Son's mortgage 518 5
- Seeking a tax case 593 9
- When do we qualify for state pension? 455 4
- Companies house strike off 448 3
- Tax treatment of alterations to property 368 2
- Moving to the cloud 713 9
- Iris open space/doc exchange for SATRs 205 2
- How much to charge for payroll? 864 16
- Unincorporated charity transfer to CIO 193 4
- BTC vs Digita 1,072 29
- Has anyone tried calling HMRC to get tax on dividends put in code? 464 4
- HMRC Joint Filing 544
- Capital Contribution towards a company car 411
- Capital Reduction & Impact on EIS Shares 361
- IRIS and FRS 102 343
- Capitalising Finance Lease 309
- USA help 306
- National Minimum Wage issue on Directors joining a Workplace Pension 283
- Dormant company accounts under FRS 102 277
- Capital gains on rental property 253
- Sage Coretime 228