HI All,
I have invested 19k in year 1, 10k in year 2 and further 21k in yr 3.
I asked my accountant to show all these money as share capital however in year 1, he shown them as a director's loan. When I found about this, he told me that he will rectify this when he will submit in yr 2.
But when he filed yr 2 account, he shows 21k in yr 1 (instead of 19k) and 8k in yr2 (instead of 10K) so total share capital in my company at the end of yr 2 is 29k invested as share capital. So that total amount of 29k does matches but their breakdown in respective years doesnt match up.
Also I was advised that director's salary wont be counted and this amount should be deducted from the actual money invested although my company is in profit in yr 2 and yr3.
As i have withdrawn over 24k in last 3 years (6.5k in yr1, 8.4k in yr2 & 3 each ) as a directory salary, I have to now add further 24k in my company.
So what will be my best bat before I apply for extension in next 3 weeks time?
(i) Is it good idea to resubmit revised account for previous years 1 & yr 2 ?
(ii) How should I invest remaining 24k now?? share capital or loan agreement?
(iii) will it be ok to have investment made in combination of both loan agreement or share capital?
(iv) My accountant has also messed up starting date of one of my employee (started 21st of month) and hence looks like she worked 120 hours in that 10 days? so is there any way can I change the starting date of that employee now? I have P46 form for that employee.
I really appreciate if you could help me as Im bit concerned especially when my accountant has messed up and me being non accountant not helped the case.
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