What a time of such change and uncertainty in our sector! Our staff have applied themselves to government guidance; updates and changes of legislation whilst working from home. They have shown resilience and determination to continue to provide the very best advice and assistance during Covid-19. Up to date bookkeeping has assisted clients to apply for government-backed loans; our payroll service has applied for job retention scheme grants and Covid-10 SSP refunds; and we have continued our endeavours to ensure our clients understand how employment law impacts any changes they may be considering. We understand this is a difficult time of concern for the future for many. We would like to wish all our local businesses the very best and give assurance that Heather Nunn Business Services will continue to work hard to underpin your efforts both during Covid-19 and in the future.
Covid-19 – How are we doing?
How our world has changed in just a few weeks! Our local SMEs are ‘braving out’ the difficult situation and showing such resilience. That determination to ‘stay in the game’ is being helped by government as we see the first vital monies for furloughed workers hitting client bank accounts. Stability for workers and hope for business owners.
The Chancellors statement last Monday of loans for small business, (from £2000 and £50,000) with no capital or interest repayments due for one year, 100% taxpayer-backed and easy to access, is most welcome. We would urge business owners with cash flow issues to seriously consider an application when this becomes available shortly.
We are routing for our clients – helping them stay in business and remain compliant during this time.
Covid-19 and our work
Just over a month ago we rapidly made ready for remote working. We have now been doing it for over three weeks! Much time is being spent supporting our clients with Covid-19 related advice around SSP, Furlough and the various government schemes to help small businesses and charities through this extraordinary time. Staying up to date with government guidance continues to be an ongoing challenge that our staff are managing well. You can find the main government guidance links on our home page – and remember they are being updated as necessary, so please revisit for the latest information.
Covid-19 outbreak and our work plan
We have taken steps to ensure that, in the event of our staff having to self-isolate or otherwise not being able to come in to our office premises, they are equipped for home working should that become necessary or desirable.
Heather Nunn Business Services staff will do their utmost to ensure that our bookkeeping and payroll services continue to support clients in the normal way during the coming weeks and months.
Is it a good idea to outsource your payroll?
When making a decision about who processes your payroll probably the main consideration will be: will it be more cost effective?
Here are some factors you might consider:
• Can I outsource for the same or less than it will cost to employ someone with the skills?
• Is there enough work for a payroll position?
• Do I have someone in-house who has payroll skills?
• How will an employee keep up to date with payroll legislation?
• How will the payroll run on time if my employee is not at work ?
• Is there any issue with an employee seeing their colleagues’ pay information?
• What factors affect my payroll and the time it takes to process it? Eg. number of staff, payroll frequency, calculation complexity, frequency of starters/leavers, pension contributions, etc.
• If I outsource my payroll, will it release more time for me/my employees to spend on my/our business activities?
• With GDPR as a consideration, do I have systems in place to ensure privacy and secure and timely delivery of payslips?
Like most business activities, payroll has changed greatly over the last few years. Ever increasing legislation, including payroll in real time and workplace pensions has made payroll more complicated. Whether you run a small or large payroll, now is a good time to look at your processes and consider whether outsourcing might be beneficial.
Bookkeeping, payroll and associated services
We know that the record keeping and employment necessities of running your business can be time consuming and take you away from building your business. We can help by supporting these functions; including providing a complete payroll service and attending to your bookkeeping needs. We are MTD ready, and familiar with a range of accounting systems including Quickbooks, Xero, Freeagent, Kashflow, Sage, and others. If you think we might help you to spend more time on the business of ‘doing business’ then give us a shout!
Our team are here to help and give you a reliable and personal service!