Forum | Accountant Advice - Small Business by smuttsontour

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Accountant Advice - Small Business 10:00 - Apr 26 with 1196 views

Apologies — tax question.

I’m a sole trader limited company — only in existence since Sept. I’ve made two VAT payments since — but now in April 2018, my accountant has just informed me the business owes VAT for Sept 17-Nov 17.

Am I right to be calling out the accountant on slight negligence for not informing me of this sooner — in essence why has it taken them so long to bring this up?

Any feedback greatly appreciated.

SOT

Accountant Advice - Small Business on 10:06 - Apr 26 with 1180 views

stevec

If you started in Sept, then would have thought you'd only of had to make 2 payments (Sep-Nov and Dec-Feb), March to May not due till 7th July.

Check two VAT payments have actually been banked first.

Accountant Advice - Small Business on 10:24 - Apr 26 with 1152 views

CroydonCaptJack

I suspect there is a bit more to this.
Check what quarters you have actually paid and whether this is an adjustment to a previous period or something out of the ordinary

Accountant Advice - Small Business on 10:42 - Apr 26 with 1134 views

Mick_S

SOT,

Don't ever assume that your accountant will do for you what they initially said they would unless you genuinely have a diamond working on your behalf. You have to ask the questions rather than hope they'll interrupt any possible financial problems. The "oh, by the way" letter or phone call is all too common.

Be very wary.

Did I ever mention that I was in Minder?

Accountant Advice - Small Business on 11:17 - Apr 26 with 1094 views

stevec

Yeah, it's very hard to miss a payment to VAT these days as your accountant (assume he's doing the VAT) has to do returns electronically.

If payment didn't transfer for whatever reason you or your accountant would be notified to that effect and at that time.

If you haven't got it already, might be worth asking your accountant for your User ID and password he uses for you on hmrc.gov.uk. That way you can get into your own details with HMRC and view the VAT returns, and also any messages they've left on there.
That way you'll at least know if everything is legit.

Accountant Advice - Small Business on 12:23 - Apr 26 with 1037 views

smuttsontour

thanks for your help guys - very warming that Rangers can assist with non footballing matters also, it's what makes us special!

Update - the dozy accountant did not update the portal of the first VAT payment.

Case closed.

SOT.

Accountant Advice - Small Business on 12:30 - Apr 26 with 1023 views

Benny_the_Ball

Glad it's sorted. I was about to say that if your accountant can't manage VAT then perhaps it's time to look for a new accountant. God help you when he prepares your accounts.

Accountant Advice - Small Business on 12:40 - Apr 26 with 1006 views

smuttsontour

Accountant Advice - Small Business on 12:30 - Apr 26 by Benny_the_Ball
Glad it's sorted. I was about to say that if your accountant can't manage VAT then perhaps it's time to look for a new accountant. God help you when he prepares your accounts.

if anyone can recommend a decent accountant by the way - please shoot me a message.

thanks

SOT

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