business accounts to give to the OR, HELP NEEDED

ohwell

Hi guys,
Does anyone know what the OR needs to see re my business accounts as I only started self employment 4 months ago and havn't really got anything down on paper. I know all the income and outgoings, I just havn't sorted it out yet and we are off tomorrow to go BR............

Any help would be really useful
Thanks

maxmycardagain

you wont have enough info yet, the court doesnt want it anyway, its the OR who may.

the OR will either ask or not, they dont want individual recoepts or invoices, just the overall picture/details but wait till you are asked.

ohwell

Thank you maxmycardagain.

not looking forward to tomorrow

maxmycardagain

10 minutes in and out, trust me, its a breeze

ohwell

I will let everyone know how it goes, Just trying to write my reasons for BR down now on the back of the forms. Have got writers block and cramp.

Good grief ..................

mypiggybankisempty

Hello... Good Luck with you BR in the morning you are almost there... Don't worry too much about accounts at this stage the OR will ask at a later stage when you have your interview the most important thing is to get the forms correct for the court tomorrow worry about additional information at a later date...You will have plenty of time between the Bankruptcy and Official Receivers interview. The Official receiver is mainly interested in when the credit was taken out and what it was for.

When writing your reasons for bankruptcy it has to be the hardest part of the form and in your own words however a tip I had from some one on this site was at the end write something like... When taking out the credit It never occurred to me that I would ever be in a position where I was unable to repay the monies back and I deeply regret the situation I am in... or words to that effect

fiveyearplan

Good luck Oh Well!

I'll check back tomorrow to see how you got on.

ohwell

Cheers guys,
Thanks misspiggy for that very useful quote. :T

I will let you all know how it goes.

Just having a large whiskey to settle the nerves.:eek:

smilernpb

My hubby was/is self employed and they wanted anything you had, however you'd recorded it - income, expenditure, receipts that kinda thing. We took it over in a big plastic box, just piles and piles of paper....no order to it all. And that was five years of stuff (nearly). They were fine with it. They just hand it over the tax office I think who deal with it as they wish. For few months it'll be hardly anything you need to give them. Stop worrying. If they have any questions about how you've presented anything, they'll ask you.

ohwell

Thanks Smile.
I suppose I will just have to wait for the OR.

smilernpb

ohwell wrote: »

Thanks Smile.
I suppose I will just have to wait for the OR.

They will just ask you to bring what you have. As you have been self employed you may have to go in person to see the OR but it's nothing to worry about. Good luck.