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Dave Shaw

Limited company, vat reg and dividends.

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I think the taxman can go back 7 years and you have to prove you have not been earning it. If they know you have a mortgage free house then they will come after anyone because they know the asset, money is there. My mate works on the rigs and has his own company. They all got in toe with a Cheap Accountant (Try not to laugh) who did their vat or tax returns. It was going great till a letter from the inland revenue arrived on his doorstep demanding £14k be paid at once. Apparently the cheap accountant wasn't paying the taxman and keeping their money. He told me that he can't even sue because there is no governing body there to sue.

But they all should have known something wasn't right when they were told the phrase, Cheap Accountant. Everyone knows there is no such thing, well nearly everyone.:1f602:

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