Member Since: 25th Mar 2003
5th Oct 2016
You have done the work. If it can be demonstrated that the fees are represented by hours at preprescribed rates or quotations in advance insist on payment.
If they have revealed their intention not to pay don`t file anything.
Issue a county court summons. Inform the new agent of their sharp practices and politely ask them to suspend works. We as professional advisors should support each other. In my experience mosts local firms will collaborate in these matters.
Ive attended court hearings numerous times and won more often than not provided I can support my fee structure. The best position for you as plaintiff is a fixed monthly fee agreed in writing in advance payable by standing order.
20th Nov 2013
Do you mean AE ?
RTI is a separate issue but increasingly the issue of workplace pensions is coming across my desk from worried clients/ small employers.
There are cheap pension alternatives such as Nest but unfortunately their employer compliance support is negligible. The pension regulator is set to impose severe penalties on companies who fail either to stage their scheme on time and perhaps more problematic provide the neccesary records of the process, pension scheme assessment, opt in and outs, payroll integration, handling of deductions etc. The regulations and guidelines run to hundreds of pages.
We as a practice have engaged Clearworkplace Ltd who offer a link to Staffcare the leading employee benefits firm who cover everything with their middleware solution from £1.50 per employee per month.
I now don`t have to fob clients off with the "you need to ask your IFA" Its a good value added proposition for my firm and fee generative to boot.
2nd Nov 2009
what a poor attitude
No one seems to consider the many companies which manufacture this very scenario. I act for a company and he moved house. He files his own form, against my advice. He forgot.
I spoke to a revenue officer today and when I asked what steps had been taken to protect the Revenues postion I was informed that no objection to the strike off had been lodged and the matter was closed. I advised them that c£20K was owed to them from two years accounts and current VAT. The bank account had been closed by the director who trousered the money. The Revenue were oblivious. Surely protective estimated assessments can be issued immediately the company strike off is threatened, telephone calls to agents and/or directors and threats of proceedings against the director would be a minimum automatic response. Accountants who turn a blind eye are as bad as the clients who consider this as a viable exit route. I am hearing this from increasing numbers of directors in conversation via the man in the pub.
Perhpas someone knows if the Revenue are tightening up here or if such steps are taken in most cases.
17th Mar 2009
Ask for the accountants name
Suggest to your client that you liase with the new accountant perhaps in his presence and agree the returns that way. Then he cannot dispute the quality of your work and he has no further reason with withold payment. Otherwise threaten him with small claims court and definitely retain his papers. Too often accountants played off against each other.
4th Feb 2009
Just as I thought. The banks have forgotten how to communicate t
Thanks for the comments, The idea is to utilise the full basic rate allowance and allow easy extraction of funds at a later date. The personal income of the director is also boosted as you point out. It would now appear this second "benefit" is negated by the issue I am raising. Personal income was forgotten as soon as companies house simply state "illiquid" . We attempted to discuss the issue with the mortgage uinderwriters and the like and direct them to the notes and the source of the companies funding. Useless! They are generally not available for direct comment and the average mortgate broker is clueless on these common techniches.
I do take on board the option of capitalising the reserves by inceases in ordinary share capital. I assume this would be done by taking an amount from the DLA. But, surely the director is showing some commitment by leaving the funds within the company in the first place. He could use suppliers money I suppose and or overdrafts and charges over the companies assets.
In one particular case it was a domestic mortgage the client was looking for and security was in abundance with over 40% equity. The Abbey couldnt have found a better customer and they lost him as a result.
30th May 2007
Thanks Paul that was very useful. I advised against renting these flats. I wondered if it would be possible to sell the flats to one of his other companies with sitting tennants?. Are there any provisions against sales to connected parties to avoid just this kind of situation.
7th Nov 2006
The DLA was repaid more than 9 months after the year end and we were left agreeing a penalty of £8000. Can I take it the £8000 is additional Corp Tax with no further posting required in the DLA. The director is adamant and wants the penalty included as a deductible expense since the company is no longer owed the money.
16th Oct 2006
Thanks for the encouragment. To clarify, the partner died in March 2006 and £165K was in the business current account at that time. The money arose from the sale of the former garage and yard in December 2004. Sufficient land was retained to build a smaller facility. Work was ongoing in March, building a new garage/ resurfacing etc. We can establish how much of the cash was specifically earmarked for the completion of this project and any other capital projects. Can we ringfence any of the funds which would be needed to fund the Debtors and working capital in general? Any other ideas?
19th Jul 2005
no income in his accounts just exclude the costs and post as dra
provided he is meticulous in excluding his costs from his accounts including employers NIC and perhaps an element of liability insuance, commercial vehicle costs etc he simply needs to post these costs to drawings. If he is a limited company post to directors loan account provided he has sufficient surplus credit balance. Dont overdraw it.