Help! Abandoned by accountant!

[ImpGit]

Hi chaps,

We became a limited company 3 years ago and, aware that I'm a financial idiot, I basically handed over all our accounting to a local accountant. However, it has become clear after failing to return phone calls and emails that he no longer wants anything to do with us, leaving us, well, you know. Right in it.

Companies House want a set of accounts by the end of the month. And I'm not really sure where I stand with HMRC. I know I am to blame for not involving myself in the financial side of the business, but I thought it was all in hand as things have been running smoothly until now.

Ideally, I want out of the LTD and go it alone as a sole trader, but not sure what is the best way of doing that?


Yours worriedly,

Keith

 

[Paul Norman]

Keith - you have, on the face of it, received a very raw deal from your accountant. That is the polite, understated, version.

Unfortunately, the period of being a limited company now exists, and will need accounting for, and reporting on, as required by legislation. You are going to need a decent accountant (ask for recommendations) to help you. Thankfully, far from all accountants would do this.

 

[Energise Accounting]

This is terrible behavior by your accountant and as pointed out it is not the norm. my advice is the following.
1. Get all the paperwork off your former accountant
2. The two accountants on here are @MyAccountantOnline or @kevin.doran as they have been contributing for a long time.
They will sort out the Ltd company and advise what to do in the long term.

 

[ffox]

Kieth

https://www.gov.uk/prepare-file-annual-accounts-for-limited-company

Get more time to file your accounts
Companies House may extend your accounts deadline if both:

• an event you couldn’t control stops you from sending your accounts
• you apply for more time before the filing deadline

Email or write to Companies House, explaining what’s happened and how much more time you’ll need to file your accounts.

Companies House [email protected]

Companies House
Crown Way
Cardiff
CF14 3UZ

Do this right away. Then start to get your affairs in order. From what you have said you could probably use one of the on-line accountancy services. You just enter your details, invoices and receipts as directed and the rest is done for you to complete the accounts.

Hope this helps

 

[MyAccountantOnline]

This is terrible behavior by your accountant and as pointed out it is not the norm. my advice is the following.
1. Get all the paperwork off your former accountant
2. The two accountants on here are @MyAccountantOnline or @kevin.doran as they have been contributing for a long time.
They will sort out the Ltd company and advise what to do in the long term.

Thank you very much Energise Accounting.

I'd certainly be happy to get this sorted for the OP if he wants to get in contact.

 

[MyAccountantOnline]

Hi chaps,

We became a limited company 3 years ago and, aware that I'm a financial idiot, I basically handed over all our accounting to a local accountant. However, it has become clear after failing to return phone calls and emails that he no longer wants anything to do with us, leaving us, well, you know. Right in it.

Companies House want a set of accounts by the end of the month. And I'm not really sure where I stand with HMRC. I know I am to blame for not involving myself in the financial side of the business, but I thought it was all in hand as things have been running smoothly until now.

Ideally, I want out of the LTD and go it alone as a sole trader, but not sure what is the best way of doing that?


Yours worriedly,

Keith

Hi Keith

This can all be sorted - being realistic to deal with all thats involved and get accounts completed by the end of the month is a tight deadline. Best advice as mentioned below is to ask Companies House to extend the deadline by 30 days, get a good accountant and get the accounts completed now.

It would be a shame to revert to a sole trade if the company is saving you money. With the right support its not difficult to trade via a company.

 

[JamesComer]

Hi Keith

All I can do really is echo the above. At least you are grasping the nettle and dealing with things. My advice would be to not panic this can all be resolved. In the short term if you get the extension at Companies House that will help relieve the tight timeframe. I would then look at getting all your records (or information you have together) and speak to another accountant about the work. Any accountant worth their fee would then be able to offer more proactive advice about best systems to use moving forwards and how best to stay on top of things.

I hope that helps and you get everything sorted.

James

 

[Gareth ACA Accountant]

Once you have sorted all this out (getting it sorted should be your first main priority), I think you might have a case against this accountant with his professional body (assuming he has one)

 

[Gecko001]

Hi chaps,

We became a limited company 3 years ago and, aware that I'm a financial idiot, I basically handed over all our accounting to a local accountant. However, it has become clear after failing to return phone calls and emails that he no longer wants anything to do with us, leaving us, well, you know. Right in it.
Keith

This could a case of the OP expecting the accountant to provide some services such as bookkeeping that they do not provided under their contract with the OP. If this is the case, maybe it is time to get someone such as a bookkeeper involved immediately.

 

[Mahabub Hasan]

Good to get decent accountant in for your accountancy work

 

[boring-friday]

step 1: Calm down, worst that will happen is you get a £100 fine. I doubt you've heard from them in the last 3 years other than some computer generated letters have you?
step 2: post ex accountants website on: www.ripoffreport.com
step 3: get all paperwork from ex accountant. Tell him you posted his website on ripoffreport (optional)
step 4: hire one of the above accountants
step 5: have a drink