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.
- CG34 Post Transaction Valuation, CGT and Entrepreneurs Relief 53 1
- Do I need to report this to SOCA 795 12
- monthly payments 270 4
- Errors in prior year accounts 577 17
- Luncheon vouchers - Class 1 NICs 89 3
- Dissolve a Ltd Company - How much do you charge? 218 3
- property ownership between husband wife three taxpayers 210 1
- Moving into own BTL property - allowable costs 308 1
- Best apps for clients 560 5
- Is anyone selling the CIOT manual essential law for the tax practitioners? 124 1
- Accountancy Software Recommendation for eCommerce Business 309 3
- CG34 approved "without prejudice" 136 2
- Client Death 431 7
- Consolidated Accounts Software 212 3
- Peer to Peer lending 309 7
- Loan to realted parties 153 3
- VAT On Conference Sponsorship 84 1
- Related party disclosures 111 2
- Loan from one LTD co. to another LTd Co. 127 1
- Hive up - accounting and notes to financial statements 177 2
- Proposed Amendments to IAS 1 592
- Property exchange - 8-year legal delay following fall-out 464
- Accounting for Insurance Premium Financing 362
- Sorry ignore me 355
- Will Ni be payable on the salary I receive abroad ? 292
- SAGE Payroll Data for Import to MS Dynamics AX 271
- Cancelled 219
- Cancelled 194
- Bartercard 155
- C79 Discrepancy 153