Client Chip shop
Commenced Oct 2009
First accounts March 2010
First records brought in very late January 2011 and SAR completed just in time.
In February wrote to client advising that it would appear that they were very close to vat limit and advised them to monitor and register if necessary.
Records for March 2011 brought in 27th January 2012. I couldnt get return in so accounts completed last week in advance of increased filing penalties.
Turnover £72k so should have registered.
Sent accounts for approval with advce that the client should assess when he should have registered then make full disclosure to HM R&C and register. Also advised that if they were only trading at marginally above the limit they may consider reducing opening hours to get back below and deregister.
Client brought accounts back early this week despondent and kicking himself because he was looking at the limit from April 2011 £73k so he'd "got it wrong".
He asked if he could not "have made a mistake in his takings". I stopped him and told him this was out of the question. There followed a lot of silence and mutterings then he said he would have another look at the records and he had a friend who was an accountant and he may be able to help. He took everything away and said he would get back to me. He didnt.
I just rang him and he said "its ok its going in today".
Well what do I do? I've no proof of what has happened but it has a very bad smell.
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- VAT - Medical Staff 160 2
- Vat on construction of residential property 1,114 13
- Really?! 803 10
- CIS 198 5
- Entrepreneur - want to submit accounts by myself 1,167 16
- Auto enrolment confusion 1,372 26
- Separate companies same Director buy from each other 647 15
- VAT 701/49 query 223 2
- backpack 293 3
- Sage Line 50 Data conversion 155 3
- Bookkeeping question for Finance Lease payments 243 3
- Viewing folder contens en masse 346 8
- HMRC Funding for Employee PAYE refund 195 3
- Tax relief on Enterprise Investment Scheme subscriptions 158 2
- Calculation of 10 year anniversary charge 194 1
- pension contribution annual allowance charge 129 1
- Dominant influence and intercompany loans 255 6
- Company Car for Owner Director number crunching - is there a ready reckoner? 466 6
- How did you recalculate your payroll fees 906 12
- Self employed and HMRC Worldwide Subsistence Rates 705
- 2015 tax year end 440
- Interest paid - do new rules affect Tax Credits? 416
- Self employed consultant working in Ireland 356
- Costly Accounting Software contract 312
- Market Invoice (P2P invoice discounting) tax treatment 255
- Directors' advances and credits 254
- DTA tie-breaker issue 239
- Tax on internet ad sharing income 222
- Credit against UK NI for NI paid to EEC Countries 203