Massive Tax Problem

[DarceyK123]

My husband rented out his flat 10 years ago, the Agent at the time told them they would sort everything and pass the remains rent on to him monthly.

He's now going to sell it and has now discovered no tax has ever been paid!

He was very naive, he realises that now but it's too late.

He a very proper and law abiding man who has worked hard, never even had a parking ticket.

He's now worrying himself sick ( and so am I) he thinks he will be found out and go to prison, we will loose our home etc etc.

He's a broken man who can't think of anything else, any advice really appreciated

[Peter Pedant]

good answer from good goalie
the accountant has to be able to negotiate with the tax man. my current one is a bit of dick to be honest

[bednobs]

San wish thing happened to my husband. He was working as a self employed taxi driver to put himself through uni. Four yrs later he popped his head up to the tax office. They wrote him a stinky letter and he just handed over his accounts to an accountant who dealt with it all. He didn't have to pay tax but did have to pay some ni. And 400 accountant fees

[DarceyK123]

Thank you all, GG I'm having a look at the link now.

Sorry if I got over dramatic but it hurts to see my husband tossing and turning every night being unable to sleep.

[jennyjoan]

don't let him be a broken man over tax when there are nothing but ne'er do wells out there who get off with a slapped wrist.

do something tomorrow and help your husband

[DarceyK123]

Thank you Jenny, I will get him to sort it out for both our own piece of minds.

[KARL]

As the responses you already have indicate, this is most definitely not a "Massive Tax Problem". While it is perhaps possible to understand that a feeling of guilt has set in, in the scheme of things this is among the smallest of problems which is easily soluble by getting a good accountant who is well versed in tax matters to sort it out. The cost is likely to be mostly accountancy fees, unless the rent received was quite substantial and over a long time. Ask the accountant to advise you on what might be due (if anything) given the amount of rent over whatever period and when the income was received, all in accordance with the overall income circumstances at the time.