- First payment on account due
- Self Assessment Tax Return due
- Final payment of tax bill
- End of Tax Year
- P60’s Documents Issued to Employees
- Deadline for Second Payment on Account for Self Assessment
Coronavirus – (COVID-19)
In this time of uncertainty, I thought this would be a good time to let you know what I’m doing as your Accountant and Book keeper and software provider. I’m not going to apologise if you see this more than once as I think it is really important.
As most of you already know, I work from home, so self-isolating is not going to be any different to my usual working day. However, being a small business like yourself, I am going through the same stresses and pressures that you are also facing and understand what you might be feeling at the moment. I will still be here and even though I appreciate that your accounts and your tax might be the last thing on your minds at such a time, this is in fact a good time to start planning ahead for the future and ‘coming out the other side’ and I would ask you to make sure you stay in touch.
You can email or phone me as usual and if you would like a ‘face to face’ meeting, I can do Skype, Zoom or Facetime calls. I can also arrange with you to access your computer remotely and give training sessions for software if you would like. I will also be putting up information on my Facebook page, so if you haven’t already liked it, now would be a good time.
As I said, now would be a good time to start planning. The tax year end is almost here and the earlier we get your accounts and return completed, then the earlier we can plan your tax payments. If you are already thinking about your July payment on account or haven’t yet paid your outstanding tax bill, then please don’t forget about HMRC’s Time to Pay Service. The Government hasn’t yet pushed back any submission dates yet, just payments, so we need to carry on as normally as we can.
If you are worried about your business coming through this, then please also get in touch, cashflow planning is easier to do before it gets to ‘crisis point’. I have access to various software apps that can support and help to plan. Now might also be a good time to get your book keeping software up together and as you know, my software of choice is Xero, so talk to me if you’d like to get onboard with this.
Don’t forget to check your insurance (if you haven’t already done so), to see if you are covered for loss of earnings, staff sickness etc.
The budget also announced information and support for those affected by COVID-19 and I would urge you to read and maybe download this guidance for reference. COVID-19 Guidance for businesses and employers.
Please consider speaking to your bank to see what help is available, a few of them have already offered support, so its worth finding out what they can do.
I know its tempting to consider paying suppliers late, but if we all do that, then it will have a far reaching longer term impact to everyone in the future, so please consider paying bills in instalments or payment plans. I already offer a payment service to my clients, so if you haven’t already spoken to me about setting one up, then please email me and I can sort this out with you. Your cashflow (and mine to be perfectly honest!) is important to me at any time, but particularly now as I would like to see all my clients through this.
Whilst you are at home and if you are unable to work, use this time to consider your marketing strategy or spending more time on your business not in it (as they say), I have many contacts in various industries that I can put you in touch with, and they are all small businesses who understand what you are facing..
We are all going to be affected by COVID-19, either, personally, financially or in business, but the most important thing to remember (And I can’t stress this enough), there will be an ‘other side’ to this and if we all work together to help and support one another, then we will get through it!
Stay safe, stay well and stay focused. Small business rocks!
Karen Russell MAA