Potential New Client - Limited Company struck off without submitting accounts and still being used by client
An Australian national came to the UK in August 2008 and signed up with an accountant specialising in antipodean clients. The accountant formed a VAT registered limited company for the client who has been using it for CIS work ever since.
The client says he has only ever had sporadic communication with the accountant and has now discovered the accountant himself has gone back to New Zealand with no ongoing contact details. From looking at Companies House website, the company was struck off in March 2010 - presumably by Co. House themselves after no annual return was submitted.
The registered office address is still showing that of the accountants and the client has not been forwarded anything from HMRC in respect of CT. The client thought his accountant was taking care of what needed doing and has no idea what's happened in respect of PAYE/CIS operation or end of year submissions. He is, however, in correspondence with the VAT office about late returns/arrears so they obviously have his correct details on file.
To complicate matters further, the client had no idea the company was struck off and has been happily issuing invoices for work done and recieving money into the limited company bank account as recently as last week!
The client is keen to put his affairs in order and do whatever needs to be done but it's an odd scenario so it would be helpful to get some background as to what would be involved before I decide to take the client on, specifically in terms of:
- How to account to HMRC for the income/profits earned now that the company is struck off
- Dealing with the VAT debt in this situation
- Obligations in respect of P35 returns
- The legal status regarding the company bank account
- Limited company purchase of property 474 2
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 215 14
- HMRC BACK AND FORTH FIGHT ON BTL PROPERTY ALLOWANCES 239 6
- Goodwill complications 277 6
- Tax relief for VAT assessment 22 1
- Holding Company - Ltd or PLC? 140 1
- How much of your work is admin? 700 9
- Base value unavailable re. Capital Gain 218 4
- Will I need to resign? 434 7
- UK Pension Income For Non-Residents 112 1
- Gov.UK = NOT OK! 315 5
- Trade creditor journal 116 2
- Nominal Ledger 474 12
- The declaration on the VAT return is wrong ??? 186 1
- Old CGT loss 242 4
- Bulk submissions to Companies House 484 2
- Which operating version would be better to upgrade to..Windows V7 or V8? 991 14
- Working out private usage for a Taxi Driver? 409 9
- HMRC Distraint 158 1
- TaxCalc Accounts production 173 2