VAT LIABILITY


T

The Belly

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
 
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