Mum has inherited dad's business, WHAT is the correct business structure HMRC, VAT & BANKING

[Leeds1972]

Hi,
I'm looking for advice regarding business matters,

My Mother left her whole estate including her business to my father in her will. I have 1 sibling who has very different opinions on how to structure my father's income. They have registration themself with HMRC including VAT, PAYE, etc and also opened a bank account T/A .............. their name.......etc

My sibling has submitted an income for my father to social services without declaring his business interest and income which I find unacceptable as I'm liable as I have LPA as well.

Correspondence and communication, unfortunately, has broken down between us both, which does not help the situation.

Q: Has anyone been able to open a business bank account for a parent with Alzheimer's.

I don't know if this is the right forum to reach out for help if anyone can help it would be most welcome.

X

 

[ITBookworm]

I run a business myself and I would want to get professional advice in this situation. I assume that the business has an accountant? I think that they would be the first person to speak to. If you have LPA for your father there should be no problem with them talking to you (although you will almost certainly have to let them see the LPA document and prove your id). If they aren't able to answer all your questions they should be able to tell you who you need to speak to.

Good luck.

 

[jugglingmum]

I think you need a decent firm of accountants to help sort this out.

You haven't really given enough info but I think this is too complex with penalties if it is incorrect so good professional advice is needed.