We are at present working from our office. There are only three of us here and we have enough distance and health procedures to make that work. We are discouraging clients to visit us at the office anyway – for your sakes as well as our own.
If we have to vacate the office it should make little difference to our work, or to you.
We all have full access to office computers at home and can work from there efficiently. We will there have full access to emails and telephone calls will be re-directed to our mobiles. However, if we work from home the post could be more rarely accessed, also we would not have such easy access to our physical files, but most of the data we need is computer stored anyway.
We expect to be working ‘normally’ wherever we are so please continue to send us your accounts and VAT information and we should process it as we usually do. In theory there should be little disruption caused. Clearly sending information email is the most efficient method at the moment.
Obviously, there will be some disruption but we hope not too much.
CoronaVirus – Government update.
First the good – though slightly frustrating – news.
The package to help the self employed offers some parity with the employee scheme - 80% of profits up to £2,500 a month for three months initially. Unlike the employee scheme, the self-employed can continue to work. It is targeted at up to 3.8 million of the 5 million people registered as self-employed, who earn under £50k. The money, backdated till March, will arrive directly into people's banks accounts from HMRC as a lump sum for all three months, but not until June. The grants will be taxable, and will need to be declared on tax returns by January 2022. At least half their income needs to have come from self-employment as registered on the 2019-20 tax return filed in January, or averaged over the three previous years.
For owner / managed companies
It appears that directors of their own companies can be furloughed and can claim 80% of their salaries (not their dividends) if paid through PAYE. For many this will be a small amount, but it is better than nothing.
The government are updating their information to assist businesses almost daily. This link will give information businesses will need as this problem carries on. Keep an eye on this link in coming days and weeks:
A couple of general points that will be of interest to many:
All clients of Connor Spencer have access to a support facility from Croner Taxwise for HR and payroll details. Call 0844 892 2807 and use reference TXWS 6299
Half our clients probably couldn’t do what we do for them – that’s why they engage us. The other half probably could do it; but they know they are better off sticking to their own skills and maximising what they do best. We’re here for you whatever your skills or needs.
We have one specialisation. We are a one-stop-shop for SMEs: sole traders, partnerships and owner-managed Ltd Companies. From basic bookkeeping, through accounts preparation, to corporate and personal tax calculation and tax returns we take away all your problems.
We don’t do large companies. We don’t do PLCs. We don’t do audits – rarely needed nowadays anyway.
So much is now more efficiently done ‘on line’ today: submission of accounts, annual returns, company director and other reports to Companies House.
On 13 July 2017 HMRC announced that the government has listened to concerns from various bodies and respondents of their consultations and have agreed to slow down the pace at which businesses are moved to the new Making Tax Digital regime.
Connor Spencer are proficient at creating cashflows, management plans, and projections and monitoring them and reporting on them.