The Client is Sole Director of the incorrectly dissolved Company . He therefore has undisclosed and un-taxed income from same.
You bet your bottom dollar that I've charged for my time in considering this circumstance.
There is a RISK to my client from the incorrect actions undertaken by the previous accountant.
I don't sweep things under the carpet, and this ain't my first rodeo.
I've been in practice for 31 years and never had an investigation (probably famous last words !!), because I produce accurate returns and accurate accounts. To the best of my ability.
Your reply was unhelpful, disparaging and very cavalier in your attitude to Clients' paying the correct and appropriate amounts of tax.
As an accountant I have estimated and advised my Client of the potential liability. I don't have a Gung-Ho approach to Clients, Tax or my professional responsibilities as an accountant.
Thank you legerman. The Client can indeed be persued. The balance sheet items can only be discharged as Dividends.... no adjustment to Director's Loan available.No Company. No CT600. No Dividends. Hence undisclosed income.
Thank you "at least is sound". This is my approach.
Many thanks for the constructive responses.
You've added Nothing to the Party
She's a Director. in accordance with the original post. I don't see the relevance of your post .
I was going to start using/roll out Quickbooks from 6/4/16 to coincide with my new website.
I believe Taxcalc/ Iris/Quickbooks (correct me if I'm wrong ), are one and the same.
I spent 5 hours on two partnership returns (Taxcalc) trying to revert from full to short partnership returns this tax year end.
They told me that I had exposed a glitch and thanked me for raising the issue that they would pass onto their programmers.
Give them their due, they rolled back my licences for a month in recognition of the issues, but that didn't give me back the time at year end when I was trying to hit the deadline.
How often do these Quickbook issues arise ?
Yes She can do a hell of a lot.
Agree with above 100%; that's the first call to action.Officially object to the striking off.
In the interim I would also be contacting the accountants acting for the original company.I would request copies of full financial statements, Directors Loan account transactions, Schedule of Fixed Assets and Capital Allowances claimed.
How does one run a "paperless
How does one run a "paperless office" ?
I really love tax calc and disagree. It's intuitive and well designed.
The statement was recorded on a machine. I didn't get any transcript or a copy of the recording.
I have put a date file on for the 1/2/2015 to contact the police officer (that will be a fortnight); and ask for an update. If I'm not happy with the response, I will contact my Prof Indemnity on Monday 2/2/2015.
Like most of us, I've been working like the clappers to hit the 31st. That has kept my working day/evening/night focused; but I am finding that I just cannot switch off and sleep. I am just so worried.
As long as I am not actually arrested. Then that's my whole career and reputation out the window. Trial by local press.
I have a huge amount of experience and thought I had seen it all. Apparently not.
I always depreciate and apportion in the final year; and then adjust through profit/loss on disposal.
I believe depreciation isn't just for accountants. I always advise clients that it is what they should be "setting aside" to replace that asset over it's useful life. The profit/loss shows the net result of the asset in plain terms for the client.
I think he needs a door and would hope that it didn't hit his very muscular, chemically enhanced arse[***] on the way out.