Hi all.
I am in a dilemma because I have not been keeping up to date with my accounts. (tut tut)!!
I regret it deeply, and wish I could turn back the clock. I have brushed it under the carpet and now its coming back to haunt me.
I need some advice.
I need to apply for a mortgate , our current mortgage is based solely on my hubbies wages, and the bank have asked for my accounts. I havent done them and Im in a right old mess.
I need an accountant.
Trouble is : If I show that I have made a loss we wont get the mortgage. If I show I have made a profit, the taxman will hit me hard probably.
Does any of you know whether its possible to ask an accountant to draw up two sets of accounts :One for the bank purposes, and one for the taxman? Do you think they would do this? Has anybody got any experience of this they could share?
I dont know where to start.
Iwould strongly advise anyone starting as self employed not to make the same mistake as I have made. Sort it out from day 1.
Help!!!

I doubt that you would find anyone willing to do that for you ....usually for a mortgage you need 2 years worth of accounts to show them at least that is my experience.

I'm no accountant, but I would suggest just talking to one, explaining your predicament and see what he says.

Do you think you make a profit, and if so, how long have you been self employed?

Talk to someone honey, the Tax man is not a person to **ss off, once on your case, a hard man to shake off!

What about going for a self-certified mortgage - then they don't need any accounts?

Good luck with it all

Yep a self certificated mortgage is the way to go I'd say. But remember you are putting down how much you earn in order to get a mortgage. If you end up with a mortgage that you cannot afford the repayments on because you over valued how much your earn you will loose your house so do go over the top!!

Start your accounts as soon as possible. You can get some relatively inexpensive software for your computer that will help or you can set up an excel spreadsheet for what you need. If you can keep this up to date you only need to have your accountant do your tax return which has just cost us £160.00 I don't think that is much to pay to keep everyone happy.

PM me if you need any help as I am a qualified book-keeper.

I think it would be highly unlikely he would do this as effectively you would be lying to both your bank & the tax man, not reccomended !!!

My friend is also self employed & when she applied for a morgage she was turned down & it was her fault as had not put some services through the books, to keep her tax lower, so that well & truely backfired on her.

Your lucky for 1 or 2. Most people i know had to do three, talk to your accountant and see what he suggests

Hi I work for an IFA (financial adviser) - you get get a self cert mortgage based on your joint wages - easier if it is a remortgage which I gather yours is - like another reply states - go and see an accountant - they may give you some really good advice or even come to some sort of agreement about doing them for you - even if its just to sort out your end of year returns!!!! HTH

If you do books like taht both you and the accountant could be liable for a jail sentence for fraud.

Thanks for your replies guys.
I have sorted out an accountant today, and feel so much better now. She has put my mind at rest and can help me no probs.
It was a stupid and probably desperado idea to think such a silly thing that someone could produce 2 sets of books for me !! doh !!!
I have an appointment with her on Monday, and she said its no where near as bad as I am thinking. I have always been a bit slack when it comes to the serious side of things.
I cannot tell you what kind of lesson this has taught me!!
Thanx again. xx