Trying to clean up company

Glitchyy

Previous bad management on my part and slight blame on accountants not keeping me informed or filing things on time.

I registered company in 2014. i invoiced my customers through this and did a small bit of business (under 10k/yr)

Excluding the first year i've had nothing but problems.
I use a forwarding address and i think some mail gets misplaced. I today received a CCJ Through the door for £1600. I'm yet to know what it's for as i've only just opened it. However it looks to be to a debt collection agency and as i dont deal with credit i can only assume its HMRC related. I'll therefore ring the agency, pay up and find out what it is for in the morning.
Last year i was in a similar situation, my accountants didn't file anything for me and i ended up with a £1500 bill from HRMC for late filing penalties

Enough is enough and the stress is starting to dawn on me. Due to this CCJ and obviously a unknown past i intend to dissolve the company and start up again, this time doing all the accounts myself and get an accountant friend to just overlook prior to sending.

However i'm struggling a bit figuring out what kind of mess i'm in with this... and i dont want to attempt to dissolve knowing there is outstanding debt. Afterall, I owe our queen money and i want to pay her what i owe.
I can't for the life of me remember what I've paid and what i haven't. Anything that comes through the door i pay.
I do have a company bank account, but stupidly i've paid most things from my personal bank account and just kept a nice balance in my company account. Pointless, yes. Lesson learnt. Yes.

Is there a way i can find out how much i owe to HMRC? I now file all accounts myself as my accountant had been filing things incorrectly. Adding expenses when they didnt exist etc...

The accountancy company i had used no longer exists so i can't ask them what they've filed and what they havent.
I have access to web filing only.
I do have essential infomation: Tax ref number, company reg number, vat reg number, dates etc...

Please any advice would be greatly appreciated.

Thank you.

00ec25

Companies House/HMRC will not let the company be struck off (DS01) with debts to HMRC. Full stop.

If the company cannot pay its debts, the company could go down the creditors voluntary liquidation route - that is not something you can DIY. The company needs to appoint a licensed liquidator who will take over the company and close it for you.

RE HMRC
log into the HMRC online service and look up the balance info etc as it will all be there
https://www.gov.uk/log-in-register-hmrc-online-services

Aquamania

Also, whoever went to the trouble of getting the CCJ can object to the application to strike off until they are paid.

Regarding any company accounts, you presumably signed them off as correct. :cool:

If you have access to web filing, you can see what was filed and what you owe HMRC.

Mistral001

Speaking generally, I would not just throw my hands up and ignore the past. You will learn nothing from that. You have probably made a few mistakes and you can learn a lot from mistakes. Look at all the famous people like Richard Branston who have made mistakes early in their business career and have learned from them.

Probably the biggest mistake you made is in your choice of accountant. Do not make that mistake again. I would not get an "accountant friend" , but an accountant who is not a friend and you pay and have a binding contract with. Someone who, if they mess up, you will be able to sue for damages and someone who is likely not to go bust.

Accountants do not often go bust. They should have professional indemnity insurance to cover for clients suing for damages in the occasions when they make mistakes.

Glitchyy

Maybe i wasn't clear. The company isnt skint. It has money and my intention is to fully clear all debt to HMRC. As mentioned whenever a request for money comes through the door it gets paid. The company has a healthy bank balance. I fully intend to pay the tax bill prior to closing it. The CCJ has now been paid.

Aquamania wrote: »

If you have access to web filing, you can see what was filed and what you owe HMRC.

This only shows me recent filings? which there are non as not due yet.
I want to know what tax has and hasnt been paid as some have come through and been paid others i have no idea where they are.

Pennywise

Just get a proper accountant to sort it out, not a "friend" and not an unqualified/unregulated one.

A proper qualified/regulated accountant won't go bust and leave you in the lurch. They must have professional indemnity insurance and must have a "continuity" agreement so that another firm takes over their clients if they can't continue to trade.

Rather than just paying random fines/penalties to HMRC, a proper accountant will probably be able to get them reduced or eliminated, thus paying for themselves. More importantly, they'll help you get back on track and on top of things so you won't be stumbling through in the future.

Glitchyy

Any recommendations?
thanks

Pennywise

Glitchyy wrote: »

Any recommendations?
thanks

Both main practicing accountant bodies have member firms directories on their websites. Try googling for ICAEW and ACCA and follow the links from their home pages.

00ec25

Glitchyy wrote: »

I want to know what tax has and hasnt been paid as some have come through and been paid others i have no idea where they are.

which is why I gave you the link I gave you....


you are the company director, if you do not already have it, you can register for access to the company's records with HMRC via that link. Remember the company is a separate entity so will have "its" own log in. The online services include corporation tax, vat, and paye


the records go back for as long as the company existed


I grant however this must be an area you left to your accountant to do so you presumably are not familiar with it. In reality however you will have sight of more info that the accountant had since HMRC do not let agents (ie your accountant) see transactional details or balances on VAT and PAYE.