Category: News

It is certain that COVID-19 will have a huge impact on our daily and working lives over the coming weeks. Due to the rapid spread of the COVID-19 coronavirus, AO has contingency plans in place to support your business and maintain our levels of service.

As a fully cloud based practice, we are in a fortunate position where we are very agile. We can adapt our working environment when needed.

During the week commencing Monday 16th March, we will be trialling working remotely as a team. We will be working from our individual homes and for most of us this isn’t unusual, it’s actually a common way of working for us.

The only difference is that we haven’t collectively all worked from home at the same time or for any length of time. The trial period ensures that we thoroughly test our internal remote working processes, meaning that we can confidently adapt to changing situations very quickly in the future.

We have access to a secure network and data security is in place. Employees have all the necessary technology to enable us to continue to deliver the level of service and support expected.

We do not expect any disruption to our normal services. Our telephone line will be diverted and emails will be responded to as normal.

We have taken the decision to suspend any office-based face to face meetings or training sessions that are not essential until further notice. We will communicate with our clients via telephone, email and video call meetings.

Basepoint Business Centre continues to operate as normal and will do so whilst following Government advice.

We have made the decision to cancel our ‘Xero & Receipt Bank – Work Smarter’ demo on 8^th April which will be rescheduled later this year.

We are monitoring the situation daily and will respond to to Government directives as they arise. It is still business as usual for us in these highly unusual circumstances. It is our intention to continue to deliver and develop our services to the highest standard and support our clients in every way we can.

Thank you in advance for your understanding and support.

We are fully committed to supporting our clients during this exceptionally difficult time.

The current health and economic crisis is outside anyone’s control but what we can control is how we respond to it.

Naturally everyone is overwhelmed and fearful of what the future holds. We need to focus on the now and address each day at a time. Yes, we’re in some very uncertain and scary times but we will all find a way through it. Sometimes a different approach is necessary.

We’re committed to supporting the local business community and happy to help in anyway we can. Even if it’s just a chat, sometimes a listening ear can help to see things a bit clearer.

Ways in which we are currently helping our clients:

✅ 1-2-1 calls to understand initial concerns

✅ 1-2-1 calls to develop a forward strategy

✅ Support with cash flow forecasting

✅ Support with applying for grants and loans

✅ Support with arranging a ‘Time to Pay’ agreement with HMRC

For those looking for a higher level of advice and tailored support we can:

✅ Provide access time Xero accounting software, completely free of charge for 6 months

✅ Provide access to Float cashflow software, completely free of charge for 3 months

✅ Provide free weekly cash flow updates as part of our cash flow management package

✅ High level business continuity planning – devising a plan to ensure your business survives the stormy waters

The Government have provided further clarification and guidance for the Coronavirus Job Retention Scheme (CJRS) as of 4th April 2020.

A few of the main points to note are:

1. Employees you made redundant, or stopped working for you on or after 28 February 2020, can be re-employed, put on furlough leave and their wages claimed through the scheme.
2. Employees can start a new job when on furlough (if allowed under their employment contract).
3. Furlough agreements need to be made in writing and kept for 5 years.
4. Employees can be furloughed multiple times, subject to each furlough period being a minimum of 3 weeks.
5. Company directors can be furloughed but can still perform their statutory duties but not other work for the company.
6. Employers can reclaim 80% of compulsory (contractual) commission, as well as basic salary.
7. Apprentices can be furloughed and can continue to train whilst furloughed. Employers must cover any shortfall between the amount you can claim for their wages through this scheme and their appropriate minimum wage.

Over 11 million taxpayers completed their tax returns before the 31 January deadline this year. More than 700,000 left it to the very last minute and filed on deadline day! That’s a lot of panic and stress!

10 reasons to submit your tax return before January…

1.  The sooner you complete your tax return, the less likely you are to forget about it, avoiding the risk of a £100 late filing penalty!
2. The information needed for the tax return is fresher in your mind and any paperwork is usually easier to find too!
3. You have a longer period of time to budget for any tax payment due by 31 January.
4. If you’re due a tax refund you’ll receive it sooner!
5.  If you’ve got some hefty payments on account, you may be able to reduce them if you believe that your income for the next tax year is going to be lower.
6. Your accountant will love you for helping them out and getting your tax return information to them over the summer rather than the winter months – they’re always inundated in December/January with tax return work, on top of their normal ‘day job’.
7. If your accountant completes your tax return for you, you may face a “last minute” additional charge if you don’t get your tax return information to them on time.
8. If you ask your accountant to complete your tax return at the last minute, there’s a chance they will be too busy to complete it on time for you and you’ll then face a late filing penalty.
9. You’ll get a buzz out of being super organised and knowing that the job is done for another year!
10. Sit back with a Bailey’s and enjoy a stress free Christmas and New Year break without having to worry about your tax return!

“The Government’s Coronavirus Job Retention Scheme has been extended and will remain open until the end of October 2020.”

• Coronavirus Job Retention Scheme will continue until end of October
• Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
• New flexibility will be introduced from August to get employees back to work and boost economy

From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff.

The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.

The scheme will continue in its current form until the end of July and the changes to allow more flexibility will come in from the start of August. More specific details and information around its implementation will be made available by the end of this month.