Help Please 100k bill

Help Please 100k bill

Postby plugins on Sat Sep 19, 2009 4:04 pm

Hi All

Help needed please.
I'm a builder normally. with no work at the moment.
Two years ago i got a letter from HMRC saying that they had been informed i had two rental property's.
I owned up to this and told them i had had the property's since 1997 and with my accountant and housing benefit
records worked out the tax to be around £11.000 which i paid, as proof of this they wanted my personal bank statements
for the past 6 years which was not a problem. when they got my statements they decided to investigate 05/06. i changed my accountant on recommendation from a friend to one that deals with investigations. I haven't really got any books as such i just use bank and card statements to work tax out for each year. on looking at the year 05/06 i had declared the right amount of profit but had underestimated the amount i had spent on materials so looking at my bank statement it looked like i had earned 20k more than i did. the accountant resubmitted the corrected accounts for that year and sent all my card statements off for the materials used. you would think that would be all sorted. I have had a few letters in the past year from HMRC saying basically there having a problem with my new accountant and communication. i phoned him each time and he assured me every thing was under control.
Today i get a closure notice saying i owe £100.000.00 ?
included with the letter is a statement for every year from 1997 to 2009 with increased tax liability and interest?
as of yet i cant get hold of the accountant
Whats gone wrong? what do i do now? HELP
plugins
 
Posts: 5
Joined: Wed Aug 06, 2008 4:09 pm

Re: Help Please 100k bill

Postby pawncob on Sun Sep 20, 2009 9:18 pm

HMRC rarely, if ever, contact the taxpayer directly where an agent has been appointed and is dealing with the investigation.
What have you heard from him in the last year or so? Why haven't you contacted him? This hasn't arisen overnight.
With a pinch of salt take what I say, but don't exceed your RDA
pawncob
 
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Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Help Please 100k bill

Postby plugins on Mon Sep 21, 2009 12:24 pm

You need to read the post again i think.
plugins
 
Posts: 5
Joined: Wed Aug 06, 2008 4:09 pm

Re: Help Please 100k bill

Postby scottie2 on Mon Sep 21, 2009 2:32 pm

It sounds from your posting that your accountant has not been liaising fully with HMRC. Unfortunately, this apparent absence of co-operation will be something you will be held accountable for as he/she is only your agent and acting on your behalf/instructions. In view of this, HMRC have now have had no option other to communicate with you directly and advise you of the conclusions drawn from what they have seen and the enquiry so far. Hence the closure notice and the assessments for earlier years. This is clearly a substantial amount of additional tax being payable [in HMRC's opinion] and the validity of these amounts will have to be thoroughly investigated. You still have the legal right to appeal against the findings of HMRC's enquiries, however you have only 30 days in which to lodge these appeals. It would also appear as if your accountant cannot be relied upon to take matters forward on your behalf and you need someone who is experienced in this field to enter into dialogue with HMRC, quickly establish what has gone wrong and what can be done to rectify matters. I am an enquiry specialist and able to help. Send me an email at manoj.anand@wlhtax.co.uk if you want more advice. I hope you get it sorted.
scottie2
 
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Joined: Thu Jul 23, 2009 12:10 pm
Location: London, but have national coverage


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