Member Since: 7th Mar 2014
12th Dec 2014
Note in accounts
Dont forget if you change your accounting policy you will need an additional note in your accounts.
28th Nov 2014
Hi all, my two pennies worth (for what they are worth).
Issue the first - Could it be that your client did not provide the final bank statement, i.e.they had the statement to 28th March 13 but hadnt given them the last one as it came with the next set of statements? if so and assuming the prev accountants requested the last statement but didnt get them then this could well be the clients fault.
Secondly - As you refer to DLA i am assuming this is a ltd co. Why would the personal credit card balance be shown on the TB. Has the company agreed to pay the debts of the director? if so has a p11d been prepared? http://www.hmrc.gov.uk/manuals/nimmanual/nim02194.htm
If the director is using a personal credit card to pay for business transactions that has not been agreed by the business to cover, then these should be treated as normal expenses. i.e. Debit P&L the expenses, Debit VAT (if vat reg) Credit DLA
The balance of the credit card is not the businesses debt, it is the directors, therefore it should not be on the balance sheet. Little side point, also the interest charged on the credit card is not a business expense and should not be claimed for if it has been. This is even the case if the director has only ever used the personal credit card for purely business expenditure.
Finally, if you genuinely believe that an accountant has acted negligently then you have a number of options. You can try to resolve the issue through conversations/correspondence, you can sue for negligence (if it iyou who has been wronged), or you can complain to their professional body. However, before you undertake any of this, please ensure it is the previous accountant that has got it wrong, and not yourself. Because no one enjoys egg on their face.
24th Nov 2014
Hi Kevin, I totally agree. I just wanted to make sure everyone was aware of the issues around trying to use Dashboard to reconcile your figures. It could be very disconcerting if you thought the HMRC figures were correct, but didnt agree to what you had.
24th Nov 2014
Please also be aware that the HMRC dashboard, may well differ to the information that the HMRC phone agents have on their computer screens. basically in one conversation the HMRC employee told me that trying to use the dashboard to reconcile the account was a waste of time as the information on it couldnt be relied upon.
21st Nov 2014
What i know
All i can tell you is what HMRC told me. When i eventually got through to someone who seemed to know what they were talking about (the investigation team), i was informed that this was an issue they were aware of and that the IT infrastructure were working on a fix. As to why the pawn's on the phone dont know about it, i would surmise it's for the the same reason HMRC have any number of issues, namely poor communication and lack of knowledge. or as i prefer to think of it, "not knowing their a£$3 from their elbow"
21st Nov 2014
Sorry if i am repeating others
This is a known HMRC issue. If you change software partway through a year the RTi system HMRC end cant cope. It should rectify at YE with p.35 submissions, BUT, HMRC are aware of it and you should ask them to put a note on the system to stop them sending it to debt collectors.
(i had the same issue last year! good to see they have rectified matters!)
7th Nov 2014
Not in my view
I must say that isnt my experience. HMRC will trawl CoHs and object regularly (though some slip through) of basically any that have been marked to be struck off. I have even known them to object to striking off where a DS01 has been filed correctly and HMRC have been written to confirming no tax due. (i think they may have some juniors go through a Co HS CD and object to any new ones- that may just be my overactive imagination though)
7th Nov 2014
Firstly a voluntary wind up is not a liquidation, as such a wound up company can be reinstated to the register via a court order.
Secondly, if a fraud has been committed by the Directors, then the Directors have failed in their fiduciary duty to the company and can be held personally liable for any debts (i.e. the veil of incorporation is removed).
the reality is though that, as previously mentioned, proving fraud is notoriously difficult. If you believe your friends Mother is a creditor, then object to its removal on companies house. This will at the very least buy you some time (this is of course assuming your friends Mother has not already been written to by the company as a potential creditor and failed to respond).
27th Oct 2014
Have you tried calling hmrc online services helpline (03002003600) they are actually pretty good. I am pretty sure you can delete a company off the basic tools (i am pretty sure i did it myself). If not, could you not just remove the software then reinstall it and reload the backups you want (i am assuming you arnt using it for lots of companies)?
20th Oct 2014
Had a similar problem
I had a similar problem in the 13/14 year with the dash board showing different figures to what i had submitted. It turned out that the issue was due to changing software from QB to Sage. Basically HMRC confirmed to me that RTI cannot cope with a company changing software part way through a year. I had them confirm they would stop sending chasing letters until the ye could be processed and then they would rectify it with the p35 submission. If I look at it now i can reconcile the YTD but not each month.
This took about 5 months of phone calls and speaking to different teams, including one very rude person who decided it had to be my fault and wanted to know why i didnt know what had been submitted each month. When i explained i knew what was submitted i just didnt know how they had allocated it he refused to believe me! LOL.
It could be you have changed software or perhaps a major update has thrown it off, though i will say i use sage and so far my 14/15 year is fine.