Back Taxes Help please

Hi all, I have a lot of questions so please bear with me.

I have been living in the UK for a number of years but was incorrectly informed that I didn't have to file a tax return if I made below 70,000. (This was by an H&R Block representitive )

Anyway I want to come back into compliance and have been trying to figure out how I go about this. On the sticky post at the top of this section it says file the last 3 years which is also what is recommended on the US Embassy site. Assuming this is correct I need to file for 2006, 2007 and 2008

Starting in June 2006 I started a small LTD company which has been the sole income I have had since that time. I only went LTD because many of the the contracts I do require it.

I am well under the Maximum Foreign Earned Income Exclusion limit for all years.
We (my wife and I) have savings in the bank of over $10,000
I am married to a British Citizen who has a social security number from a time in 1991-92 when we lived in the USA. She never earned any US income or filed any tax returns.
Starting this year I had a small amount of interest on a US bank account which was opened because my mother wanted to give some money to my son for future schooling but as he doesn't have a SS number couldn't be opened in his name.

Based on the above I am trying to figure out what Forms I need to fill out

I figure Form 1040 married filed separately, Form 2555, Form 5471? and TDF90-22.1?

Is this right and if so are there any other forms needed? Looking at the 1040 it mentions schedule SE for self employment but I think I need to fill out a Form 5471 so do I need the Schedule SE?

Also concerning the TDF90-22.1, Do I need to fill one out for the last 3 years also or just one for this year.

How does one go about getting the information from previous years concerning the Foreign Bank Account amounts and Do I need to report my wife's personal accounts which I don't have access?

Is it worth hiring a firm to sort this out and if so how much can I expect to pay for each year? I hate to spend a lot of money if unnecessary but would hate to go to jail worse. Has anyone else been in a similar situation and  had to do this and how was the experience?

Is there anywhere else I can go for tax advice?

Any other advice would be welcome.

Thanks very much, This is so stressful.

I suggest you take urgent professional advice as to whether you should use the current IRS amnesty.  This is aimed at delinquent overseas filers who have failed to file tax returns, Forms 5471, TD F 90-22.1, 3520 etc. You face penalties from what you say of $10,000 for 2006 and 2007 for failure to file the 5471s, $10,000 each year for 2006, 2007 and probably some prior years for failure to file TD F 90-22.1 forms plus delinquency, late filing and late payment penalties (you probably owe US taxes on dividends taken from the UK company). 

Sadly you should have taken US tax advice when you created the company and there will be costs to sort this out (the US tax answer cold probably have been resolved as well with advance planning).  Given the scale of the penalties and the tight time limits for the amnesty I do not think this is a "DIY" job.

I assume the company budgets something for UK corporate advice and filing.  This is an additional corporate cost.

You need a UK based firm comfortable with preparing 5471s and which has experience of filing amnesty based US returns to minimize penalties.  I stress the firm shoul be here in the UK so they understand UK company law and the US/UK tax treaty.

The blessing here is that you are thinking about this when there is an amnesty on the table if you wish to use this.