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While you’ll find some folks on-line who want to be ‘helpful’, lots will provide you with answers which are merely incorrect… In my time with Clear Books I met many small business people who set themselves up and dealt with their own stuff perfectly well within the early days after which sought out an accountant when it suited them. Not saying it is fraud, but I’ve just taken on a consumer the place the earlier accountant did not know what FRS one hundred and five or FRS 102 (1A) accounts have been and had been submitting accounts the place “auditor” and “accountant” had been interchangeable. A potential simple deterrent solution right here is to have a regulation that switches off GAAP for such fake companies and deems their phoney inflated revenue and B/S to be actual and taxes it (and the real/shadow directors) accordingly.
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