34 Accountants Somerset and Dorset | Hunts Accountants

News

24th March 2020

Covid - 19

In order to try and help and support you in the current climate we will be sending out regular emails to you all to help provide the guidance and assistance you need.

Please find below a link below to the latest updates from the Government, this link is a good resource as this is updated as and when new measures are announced so I would encourage you use this.

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19

I think all business owners should be looking at whatever measures enable long term sustainability as obviously we have no idea how long this will last.

Therefore looking at all measures in terms of mortgage holidays for business owners through to looking to ask for time to pay on February 2020 VAT Return payments, however from a conversation with HMRC today, it would seem that these returns may be covered by the deferred payment provisions announced, we will wait for clarity on this.

My general approach would be to encourage you all to build as much of a “war chest” as early as possible.

The announcements are being made and then we are waiting for the detail in terms of how measures will be rolled out and how to apply for support, we will add therefore the detail as we get it.

I also think that it would be a good idea for clients to be able to share (anonymously), any thoughts or ideas of things they have come across that could help other business owners. This could be your experience of speaking to your bank over lending requests including the Government backed loans.

If you send these to me I will organise for these to be available on our website as this would be a good central location to communicate to everyone.
Very best,

Nick Hunt