A great big thanks to all of the great staff here who have continued to provide a brilliant service to our clients, despite coronavirus.
It has been a different (and difficult) year for virtually every business – ours included – and probably yours.
There were groans of horror from everyone involved in payroll virtually every time the chancellor made an announcement. We’ve lost count of the number of changes made to furlough and other schemes. At one time we had five different methods of calculating furlough pay. Our spreadsheet creation skills were pushed to the limit and there were many discussions about what particular sections of government guidance actually meant.
We found that, on average, calculating furlough pay doubled the time taken to process payroll.
However, furlough has been a lifeline for many businesses. Without this support many would have failed. Some may be just hanging on and we will do our best to help them through the next few months to a point where they can start to thrive again.
Retail and hospitality businesses have had a particularly difficult time. It isn’t just the reduction in sales; many have purchased stock which either became worthless or will need to be sold at a massive loss.
It hasn’t been all bad news. Some businesses have done well. Clients providing takeaway food have often seen sales increase. Other clients have found new, more effective, ways of working.
The New Year
2021 will start with increased restrictions plus our final departure from the EU. It is difficult to predict just how business will be affected over the coming months. If you import from or export to the EU, you may need to change your procedures.
Changes to CIS (Construction Industry Scheme) and IR35 are due to take place in the first few months of 2021. If you are likely to be affected, please take action now.
There are now two approved vaccines so the hope is that there will be an easing of restrictions during the first half of 2021.
A return to normality will be welcome.
Our intention is to continue providing a friendly and comprehensive service to clients. We have spent a lot of time talking to clients to find out what additional services and facilities we can provide to help you become a more profitable organisation. Please let us know of anything we can do to help you.
Services in the pipeline include a Virtual Assistant service, a full HR/Employment Law facility, telephone answering for clients, credit control, Virtual Finance Director, comprehensive forecasting and strategic planning – plus a few others. Let us know if you feel any of these will be useful to you and we might be able to include you in our testing process where your feedback will be welcome – and appreciated.
To all of our clients and friends
HAVE A GOOD AND PROFITABLE 2021