VAT bill - help

S

suzdal

Guest
hi, I'm looking for some advice please. Please excuse my complete ignorance about all things financial. My husband was self employed builder for about 10 years. In 2004 he made the change and became a full time employee. When he had his company i was named as company secretary. We received a bill from the Revenue commission last week for 16,000 Euro for tax and VAT and estimated PRSI from 2002 to 2004. There were 2 bills delivered, 1 in my name and 1 in his name. Can anyone please advise if i am indeed liable for this money. Can you also advise what difference if any being a Limited company would make in this situation. Will the fact that his company was dissolved in debt in 2004 make any difference?
Yours in panic - suzdal
 
Although you haven't given us a whole lot of information, it sounds like this bill has arisen because you haven't filed VAT & PAYE/PRSI returns for years in question. If this is the case, then you will need to have these returns prepared as a matter of urgency, and any liability paid also. Paying the bill in the absence of the return will get rid of this tax demand, but other demands will follow until and unless returns are filed. You will need to get proper accountancy advice, as a matter of urgency, as otherwise the whole issue could spiral out of your control unless handled properly.

The fact that the bills are in the name of a limited company that has "dissolved in debt" as you put it, is likely to seriously complicate matters, and there is a strong chance that the company directors could (1) be held personally liable for any unpaid debts to Revenue and third parties; (2) be subject to proceedings from the ODCE.
 
Ubiq is right. Get the advice straight away. Delay will only increase your liability with penalties, interest, sheriff's fees, etc. Contact the CPA, ACA or ACCA for a list of practising accountants in your area. Companies like this that are improperly wound up are dangerous with the ODCE and revenue promising more rigourous enforcement.
 
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