Cubaintime
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Agree. This is such a recent issue and with the havoc from Covid it makes perfect sense to correct this with Revenue.PS There never has been a better time to engage with Revenue for scenarios such as this. Enforcement is currently suspended but this won’t last forever. Regularise things now and you’ll sleep better. File your returns, warehouse any debt if Revenue are amenable, and get on with your life.
The questions I asked you are relevant here too, I wasn't just asking you about them for the craic...Thanks for the feedback- much appreciated. I would much rather engage with revenue and pay whatever VAT may be due (ideally if they would do some sort of instalment type arrangement). Last year was such a mess and exceeding the VAT threshold and still trading a year later was not what I thought could ever happen....the ironic thing was covid worked in the favour of the business and without it I couldn't have traded online only. All prsi etc has been fully paid- I can't see vat being more than 8-9k so it doesn't seem to make any sense to ignore it and hope the co is just struck off without any repurcusions
Ok, now as I understand it you were selling primarily online, so how did that transition work? Did the new company set up a new website or just inherit the pre-existing one?Debtors- none.
Creditors- likewise none except revenue as outlined above due to the VAT issue (all prsi etc fully paid).
All suppliers continued to supply and in most cases just meant a new 'application', paperwork etc. I almost always pay fro forma and request this even when credit terms are available.
There was transfer of some stock and as no end of year accounts etc have been filed yet I am not sure what way the accountant is handling- I changed accountant a year ago as the one for old ltd co didn't provide any strategic advise and delegated my accounts to a junior. For instance- this issue is only arising now as despite chasing to 'wind' things up they (old accountancy co) had no staff to even look at my accounts till now (or they just put it to the back of the queue). I just got on with things in the meantime- short sighted I know but right now I am trying to resolve as best I can
Debtors- none.
Creditors- likewise none except revenue as outlined above due to the VAT issue (all prsi etc fully paid).
All suppliers continued to supply and in most cases just meant a new 'application', paperwork etc. I almost always pay fro forma and request this even when credit terms are available.
There was transfer of some stock and as no end of year accounts etc have been filed yet I am not sure what way the accountant is handling- I changed accountant a year ago as the one for old ltd co didn't provide any strategic advise and delegated my accounts to a junior. For instance- this issue is only arising now as despite chasing to 'wind' things up they (old accountancy co) had no staff to even look at my accounts till now (or they just put it to the back of the queue). I just got on with things in the meantime- short sighted I know but right now I am trying to resolve as best I can
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