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Where Taxpayers and Advisers Meet

income declaration problem

TAKISARAKAPAS
Posts:5
Joined:Wed Aug 06, 2008 1:53 pm

Postby TAKISARAKAPAS » Thu Jul 24, 2008 9:53 am

a company does never declare? what to do

TAKISARAKAPAS
Posts:5
Joined:Wed Aug 06, 2008 1:53 pm

Postby TAKISARAKAPAS » Thu Jul 24, 2008 9:59 am

please help

TAKISARAKAPAS
Posts:5
Joined:Wed Aug 06, 2008 1:53 pm

Postby TAKISARAKAPAS » Thu Jul 24, 2008 10:12 am

with my poor english I ll try to explain the situation:I have entered the family business of my wife two months before, in order to help. as I m not un accountant, it took me some time to realise what s going on (the mess): the previous accountants never filled un income declaration, and my mother in low was making more and more loans in order to save her businness. so, i have started by chequing what is going on : the suppliers were
overcharging the bills and the debdors were not paying. I have entered all the discordances/ problems. but the big problem, now, is the income declaration. can anybody give me un advice?
i don t wat to close and to reopen the company cause its a big company and it worths a lot not only in money but first of all for a life struggle of the pesonne who created it. please forgive my poor english. thanks in advace

TAKISARAKAPAS
Posts:5
Joined:Wed Aug 06, 2008 1:53 pm

Postby TAKISARAKAPAS » Thu Jul 24, 2008 10:21 am

the other problem is that my mother in low believe that a god charter accountant can give us a solution, but if I m working 14 hours per day and if I ll balance and fixe everything somebody else who will only put his signiture will take the profit of a year work. I was searching for a solution. i was even thinking to ask from the government income department to come to the office and to settle the situation, but as always I m saying to myself the best solution is so closed to you that you can not see it? what do you think?

CDavey9501@aol.com
Posts:513
Joined:Wed Aug 06, 2008 3:13 pm

Postby CDavey9501@aol.com » Fri Jul 25, 2008 7:37 am

I would suggest using a qualified accountant.

Statutory accounts and corporation tax can be complicated enough for accontants whose first language is English :(

The more you have done yourself (assuming you have done it correctly) the less it will cost. Make sure you get an estimate of costs from the outset.

JS123
Posts:198
Joined:Wed Aug 06, 2008 4:05 pm

Postby JS123 » Fri Jul 25, 2008 2:49 pm

The tax office will not help you. The company is required by law to make its own self assessment of its tax liability. This means doing as C Davey says ie get an qualified accountant to do the tax returns.
I wonder - do you also realise that you have to make returns to Companies House of what the company has been doing - this is quite separate to tax. A good accountant will take you through the minefield of legal obligations the company has.
I hate to say it but for once take the mother in law's advice! Good luck!

TAKISARAKAPAS
Posts:5
Joined:Wed Aug 06, 2008 1:53 pm

Postby TAKISARAKAPAS » Sun Jul 27, 2008 11:30 pm

thanks a lot for your precious advices,
we are in the good road,
thanks again


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