messup big time - late filing of accounts

claire260573

My fault I know, I can't believe i've been such an idot.

have just realised my second year trading (also final year) wasn't done. Ending in Sept 2007. My b/keeping is terrible, have kept allinvoice but not sure I have got every sale I made but checking reports from ebay and paypal.

I'm not sure how the accountant did the first year as ther doiesn't seem to be any book keeping in the folder he gave back to me. I did provide hime with a summery of sales and a folder of invoices and bank statements. My fault i was meant to go back to get the second year done but one thing led to another and I didn't and then forgot until yeaturday morning clearing out a set of drawers.

I know I don't owe any tax but I'm worried about fines, mainly for not keeping proper records. So I guess I need to get a book keeper fast to see if they can sort the paper work out and then go to accountant or maybe just go back to old accountant but I'm not sure if he did the first year properly.

I just feel so over welmed and feel I can't cope.

I wonder if i should get a book kepper that comes to your house I feel sick and embarassed about what I've let happen

please, please can anyone give me any advice

fengirl_2

I think it would be simpler to go back to yur original accountant, although with no records, he cant work miracles. A book keeper is no use to you if you dont have the records to record in the books.

claire260573

fengirl wrote: »

I think it would be simpler to go back to yur original accountant, although with no records, he cant work miracles. A book keeper is no use to you if you dont have the records to record in the books.

I've never thrown away invoices so will have those and my sales were made through paypal everything went through paypal or worldpay.

claire260573

I wonder if i should phone the inland revenue and tell them how it is and how long I have to put it right?

martindow

I wonder if i should phone the inland revenue and tell them how it is and how long I have to put it right?

I think you should very quickly get your books sorted and then grovel to the Revenue

fengirl_2

I dont think you should contact HMRC as it will only alert them to the fact that your records are a bit duff, an open invitation to investigate you. You will get fined whether you ring and grovel or not. Best to just get on with it. If you can make a payment by 31 Jan, this will reduce the interested accruing.

claire260573

fengirl wrote: »

I dont think you should contact HMRC as it will only alert them to the fact that your records are a bit duff, an open invitation to investigate you. You will get fined whether you ring and grovel or not. Best to just get on with it. If you can make a payment by 31 Jan, this will reduce the interested accruing.

Yes someone has been in contact with me who's in the know and explained to me that I won't be fined as i won't owe tax but I need to get the books together so that the next years accounts can be filed. I've emailed the accountant I used explaining everthing and asking if he'd prefer I go elsewhere but I'm guessing he won't has someone might question how he did the first years accounts with no books.

Also told not to contact inland revenue and also let any accountant I use set it up so infuture communication from the IR goes straight through them

FatAndy

claire260573 wrote: »

I'm not sure how the accountant did the first year as ther doiesn't seem to be any book keeping in the folder he gave back to me. I did provide hime with a summery of sales and a folder of invoices and bank statements.

When I worked in accountancy practice we used Excel spreadsheets to do the number crunching, e.g. analysing purchase invoices, bank statements, etc. I don't think we ever provided copies of these spreadsheets to clients, basically because no one ever asked for them. If they had asked I'm sure we'd have been able to print off copies of the relevant spreadsheets.

claire260573

FatAndy wrote: »

When I worked in accountancy practice we used Excel spreadsheets to do the number crunching, e.g. analysing purchase invoices, bank statements, etc. I don't think we ever provided copies of these spreadsheets to clients, basically because no one ever asked for them. If they had asked I'm sure we'd have been able to print off copies of the relevant spreadsheets.

oh so maybe there are so called books for the first year. Today i have found the disks with all the sales on and believe i have most of the invoices for outgoings as they're not many showing on the bank statements.

All the sales are through paypal or worldpay so do you think it's easier just to let an accountant have access to the accounts so info can be downloaded?