Will I Lose My Licence?

Bossyboots

You will receive a summons. Assuming the wording of the summons reflects the actual offence (i.e. the correct vehicles are detailed, the correct location etc.) then you can plead guilty by post using the slip on the summons. You will also receive a statement of means form to complete so that the court can decide an appropriate level of fine. You are not going to be asked to pay anything near £5000 so don't worry about that. I would say max £250 and you can pay by instalments if you are likely to have difficulty.

If the court decide they want to give you sufficient points so that you will lose your licence, you will get a letter with a court hearing date which you must attend. (I think this unlikely but each region and court has its own way of handling things). It might then be worth you seeing a solicitor to get some advice on whether it is worth putting forward any mitigation or whether the costs will be too high.

CopperPlate_2

I'd say go and see a solicitor now. That way you can get professional advice from someone who is legally qualified to give it. I think it's treading a very fine line stating that "you will" this or "you are not going to be asked to pay" that. We don't know the level of carelessness exhibited by the OP - what sort of stupid mistakes did they make, or is stupid another way of saying you knew what you had done, but wanted to see if anyone had seen you and as a result get away without reporting it - and that's what caused the sleepless nights?

Courts can be very funny places (and not in the "ha ha" sense) - again, stating that you won't get a specific level of fine is not helpful when, after their day in court (potentially) the OP is hit with a fine exceeding the maximum specified by Bossyboots - the recriminations start.

To be honest, the OP appears to want a re-assurance that none of us can give them.

Speak to a solicitor, take whatever comes your way, and get over it.

And next time you prang someone, you might then understand what the correct procedure is for reporting an accident.