VAT LIABILITY

Discussion in 'Accounting Software' started by The Belly, Nov 21, 2009.

  1. The Belly

    The Belly Guest

    Hi all

    I have just had to change accountants as my previous one was making some
    very basic errors that even I could see ( and I am not an accountant )
    Unfortunately, the old accountant has now had some very serious
    physiological problems.

    However, before that, I had moved my business to new accountant, who has
    discovered some very serious errors in the previous accounts.

    In essence. I am up to date with PAYE, but will have a ( potentially )
    serious VAT & Corp Tax liability.

    The new accountant is suggesting that I start a new company to continue my
    existing activities, whilst we try and sort out the mess left by the
    previous accountant.

    He is suggesting that this may result in closing the existing business. If
    I do that, do I have any liability for the outstanding VAT & Corp ? My
    accountant says no, but you will appreciate my confidence in accountants
    has been seriously shaken

    many thanks
     
    The Belly, Nov 21, 2009
    #1
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