• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Help with dividends (VERY WORRIED)

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #41
    Originally posted by Tavy View Post
    I pay for an accountancy company CompleteAccounting and they should have told me as I send them the company statements every month... They never said anything...
    You have identified a crucial point there.

    Unfortunately it's one that is not quite as black and white as it may seem.

    What - exactly - did you ask your accountant to do? What did the terms of engagement say? Were they to prepare your financial statements and tax returns but not anything else?

    The above is by far the most common type of arrangement because it's the cheapest for all parties. You are not paying for the better minds and the accounting firm is not recruiting and paying for them.

    By signing the agreement, all sides accept that the service provided is the barest minimum and for 99% of the time that suits all sides.

    You then move on.

    If the accountants became aware that a scheme was being investigated, should they have mentioned that fact to all known users? Should they have mentioned this to new users?

    Here, we're drifting into subjective matters. By the letter of the terms of engagement, the accountant has no duty toward you to do this. You have no action against them if they do not.

    I would have hoped however that any reasonably competent accountant who regards undertaking their professional duties with any pride would have said something. I'm well aware that many did not - for a variety of reasons - and I have got myself into hot water for saying so.

    Ultimately however, this is a two way street and before you blame the accountants for all problems, look at what you signed up for.
    Best Forum Adviser & Forum Personality of the Year 2018.

    (No, me neither).

    Comment

    Working...
    X