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.
- Investment from Friend 181 10
- Grammar, spelling and silly questions 919 39
- Receipt bank 346 8
- Pounds Shillings and Pence 634 24
- Trading lossess & non trading co & investment income 32 1
- Do we have to register for VAT? 482 10
- Self Assessment and P11D 145 4
- Director remuneration £1000 only in year. paye registration required? 341 4
- Company dividends 548 15
- Money laundering and can accountants be sued by clients if they make a report 183 5
- Directors Salary and Self Assessment (PAYE) 78 1
- Tax Penalty overreaction 2,172 15
- Two weeks grace on self assessment where repayment is due? 164 2
- TRONC scheme 106 1
- Advice on letting a client go ? 714 13
- Capital Gains Relief 161 5
- client can't/won't pay 1,611 29
- Identity check problem 1,272 13
- A Director of a Ltd Company let a general Manager run the company, and if anything goes wrong the general manager is responsible? 212 3
- Business Set up cost 114 1
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 880
- Underpaid VAT assessment and relation to SATR 581
- Did you realise Google will not patch android exploit ... 543
- Latest phishing scam 477
- Entrepreneurs' relief 426
- Cashback for opening business bank acct = trading income? 349
- Corporate LLP with 30 June Year end - How to record on SA800? 324
- Auto Enrolment Questions Answered 247
- Penalties- On Tax Returns (New Regime) 245
- Loan benefit after person ceases as director/employee 168