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 )
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