Making sense of your accounts

NoMoreExcuses

As some may know our situation is complicated.

We had 3 properties (mortgaged) with a nasty mortgage company, took some of the money for the business and to pay the mortgage.

Whilst doing a huge job for a firm that then liquidated oweing us just short of £100k, all the while we lived off of loans and cc's.

Family tax credit people are chasing me for the money they paid at that time (about £4k) and even though dh no longer has a job they will not let us claim until we have simplified our accounts and put it in writing. I have about 8 boxes of paper work. I dont know what they want from me? A pound of flesh may be easier and somewhat less painful.

I have spoke to CAB today and to be honest he sounded like his head was going to blow up with all the complicated figures. Even our accountant said it was too complicated...

We cant afford a good accountant.

How the hell to I explain any of this to the OR?

Its so bloody complicated.

Im so exhausted today. Kids are off school and driving me insane, dh is off for interviews every day and bloody cheek my make has asked me if I can have her kids tomorrow whilst she works!? And her hubby can go to work so they have enough money to go on holiday on Friday. Cheek.

Sorry for the rant but its just unbearable.

Richard_S

NME,

I hope this doesn't sound dismissive because I can appreciate how daunting it must appear to you. Your most pressing objective is to find an acceptable rented property; how are things looking today? Did you get chance to speak to the other estate agent about the board they'd put up? Have you heard anything from the estate agent that showed you around?

The eight boxes will obviously need organising and reviewing at some point but for now they can wait. Can you give me a rough idea what they are? Presumably, statements, invoices, correspondence, legal documents etc etc. Try and think what generic groups they fall into and post again.

As for the WFTC, ignore them for now; they can't take what you haven't got and it takes them ages to do anything about overpayments.

Best regards

Richard

Richard_S

Phew,

As for the kids, now that really does leave me stuck for words :eek: Good idea Bart, charge for the little darlings; give me those 8 boxes and WFTC anyday; too early for a :beer: must be :coffee: time.

NoMoreExcuses

To be honest, its all stuff from when I left the office after a huge row with dh over an employee that wa supposed to be great with accounts...the only thing she was good at was a squuky voice, blonde hair and a size 10. I had done everything up til then, personal and trade. So i left in a huge huff and told him to get on with it. Mistake numero uno.

Everything pre 2003 is in order and uncomlpicated...from then til now...urgh.

He needs to do it but is up town at interviews every day.

Have also just found an old contract for a company he worked for before we set up our own.

It says this -
In the following events the Company reserves the right to terminate your employment summarily and the above notice witll not apply (4 weeks):

point 3. BANKRUPTCY


OMG! What if he agrees to a job and accepts a job, turns the others down and then sees that it can terminate you because of bankruptcy!!!!!!!!!! :eek:

Richard_S

Hi NME,

Another thought or two, did you trade as a limited company, sole trader or partnership? Do you owe the Inland Revenue or VAT anything?

Richard_S

NoMoreExcuses wrote: »

To be honest, its all stuff from when I left the office after a huge row with dh over an employee that wa supposed to be great with accounts...the only thing she was good at was a squuky voice, blonde hair and a size 10. I had done everything up til then, personal and trade. So i left in a huge huff and told him to get on with it. Mistake numero uno.

Everything pre 2003 is in order and uncomlpicated...from then til now...urgh.

He needs to do it but is up town at interviews every day.

Have also just found an old contract for a company he worked for before we set up our own.

It says this -
In the following events the Company reserves the right to terminate your employment summarily and the above notice witll not apply (4 weeks):

point 3. BANKRUPTCY


OMG! What if he agrees to a job and accepts a job, turns the others down and then sees that it can terminate you because of bankruptcy!!!!!!!!!! :eek:

I'm afraid us guys are suckers for "forbidden fruit" especially if the big 40yrs old is in sight or surpassed Don't know about size 10 though, seems a little on the "slim" side to me

If you were keeping the books up to 2003 then you obviously know what to do it's just a case of waiting until you're in the right state of mind. One thing that motivated me when we were in the "piles of unopened post" phase was to pretend it belonged to a friend and I was doing it as a favour; worked for me :cool:

As for the contract it says that it reserves the right not that it will necessarily exercise that right. Just be aware that im may cause a problem and plan accordingly.

Richard

Apologies for coming and going; having a bl00dy awful day :eek:

NoMoreExcuses

Im sorry Richard, am behaving like a selfish spoilt kid today. cant see anyones problems but my own. I apologise. Why are you having such an awful day?

We were limited and the company folded 2 years ago - dh went to work for someone else then. Only to be shadowed by his bosses bil, whilst he got all his good client on board. The boss then set up my dh - once again gave him the accounts to do 9he was really useless). Told dh to take out £10k into dh's account and then give it to his boss as cash to pay for his tax bill.

I know - we didnt understand either.

Anyway - dh gets called in 2 weeks ago to be told that bosses bil is now taking over his job and the accounts are wrong and could be seen to be fraudulent, therefore he has to go. Lovely. Been through it all again and again (obviously have scaled this down) and there is nothing to be done if he wants a reference. Basically my dh was brought in to set up and run a new company for his bil to settle in to with all of dhs clients.

Am going to have a cup of tea and calm down.....

hope you dat gets better Richard xxx

NoMoreExcuses

And |I am far more erm jessica Rabbit than Kate Moss (I wish!!!!)

Richard_S

Phew,

I've never heard of Jessica Rabbit, one of the gals in the office emailed me this; my day is looking altogether better :j

NoMoreExcuses

ha ha! with a 7 month old....maybe blunder woman is more correct!!!!!

Richard_S

NoMoreExcuses wrote: »

ha ha! with a 7 month old....maybe blunder woman is more correct!!!!!

Hi NME,

I thought it might make you laugh. It nearly made my eyes pop out of my head, I thought Jessica Rabbit was a character out of a Beatrix Potter novel :rotfl: I've led a very sheltered life :rolleyes:

We've got four children and I forget just how demanding a young family is, well apart from when we have the grand children for a day or two (Groans inwardly at the age implications)

You have got a very involved history but so did we, and to be factual the effort I went to, to prepare all our records for the O.R was pretty much wasted. I could have dumped everything in dustbins and had them delivered to his offce and I don't think it would have made any difference.

I really would try and keep things straightforward in your mind. What you're working towards is having your O.H back in work, finding somewhere acceptable to rent and letting the O.R sort your affairs out. At the end of your bky you'll be living somewhere acceptable, with a reasonable standard of living, no debt and looking forward to possibly going back into business at some point. I appreciate that's simplistic, but you have to have a clear vision to keep you going when you get bogged down in the detail.

A lot less worry and a lot more quality time to yourselves and you may well look just like Jessica Rabbit when you come out of the other side

Richard