Help !

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  • #55787

    Iam a 56 yr old Carpenter happily winding down toward a house sale and retirement.
    Whilst I confess to being useless with tax affairs I have never owed a penny and have always trusted my accountant to keep thing so. My annual trip to the accountants has been very traumatic, the result, in short, is due to a spike in my turnover during the last years accounts (one client whose works are complete, that I managed a project for and paid the suppliers).
    My taxable income (47k) is less than last year incidentally and my personal tax is due a rebate for the first time ever. Since the end of Dec, I have had no work, though it’s due to start up again mid Feb. My accountant has informed the Vat office I should have been registered since March and the result is she says I owe them £9200!!
    They were private clients who obviously aren’t Vat registered, works are complete, I have very little work, and I have to pay this amount, leaving me with no cash flow, and then some! No doubt I’ll be able to de reg next quarter.
    I can’t believe how unfair this is, for the first time in many years I’d put some money back deliberately to settle a small finance and I have to
    lose it all.
    I really do understand those that say I should have known, god knows I’m beating myself up over it, but I just cracked on, happy to be busy for once, and happily organising everything. At worst I’ve made a mistake, though the punishment is beyond reasonable in my opinion.
    20% on my Labour for what???
    corporate tax gladly paid again in full, personal tax refund, and a restriction to trade now with 20% on my Labour, for nothing extra.
    I have been working hard for 36 yrs in the trade and I’m broken. 

    Is there ANYTHING that can be done?

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