I am contacting all our clients with some important updates in term of the recent budget and how we can support your business through the next few months. I also want to let you know what Chippendale and Clark is doing to mitigate the impact of the COVID-19 virus on our business so that we can continue to offer full business support to all our clients over the next 6 months.
We are bring in some policies that will affect in the short term how we conduct business but the service levels will remain just as high as they are now.
The good news is the government has announced a variety of measures that can help your business.
Budget Changes
SSP
Statutory sick pay will now be payable from day 1 of sickness for the COVID-19 virus. If we handle your payroll, we will automatically apply these rules as we run the payroll.
For those who run their own payroll you will need to contact your software provider on how to operate these new rules.
Recovery of SSP from HMRC
SSP for sickness caused by COVID-19 will be recoverable from HMRC via your Payroll system.
SSP was no longer recoverable when the employer’s allowance was introduced a few years ago. If C&C run your payroll, we will automatically apply these rules. Again, if you run your own payroll you will need to contact your software provider on how to reclaim these amounts.
Employers Allowance
Employers Allowance was raised to 4K from 3K C&C claim this automatically for you if you are eligible through your payroll system.
Working Capital Loans
The government has announced 80% government backed funding for business for working capital to get them through these harder times. These loans are apparently accessible through the major banks, but more details will follow.
This does present an opportunity for business that are looking to expand we can utilise these loans for that purpose instead.
It important to note where you are a C&C fully managed business, we see your profit and turnover monthly we will speak with you when we notice averse performance or a potential cash flow problem on the horizon.
Business Rates
The Government is increasing the retail discount on business rates to 100% and expanding so it includes retail, hospitality and leisure properties, such as museums, theatres, gyms and hotels (for businesses with a rateable value under £51k). This exceptional step will save businesses a further £1 billion. Local Authorities will be fully compensated for these Business Rates measures.
There is also £3,000 cash support to all business in receipt of Small Business Rates Relief (SBRR). We don’t currently have details non how to claim but we will bring these to you when we know more.
Additional C&C Provisions
Here at Chippendale and Clark we all have vulnerable people in our lives so on a temporary basis we will to be taking extra provisions in order to safeguard our employees and their families from the current COVID-19 virus. I hope you understand these precautions and work with us so that everyone stays safe.
Chippendale and Clark are fully prepared for situations like this we have full facilities for our staff to be able to work at home and for us to manage our workload remotely. We will always answer the phone during working hours so be assured that it will be business as normal apart from two areas.
Virtual Meetings & Phone Call Meetings
We are going to move all meetings to Virtual Meetings and where our client doesn’t have this capability, we will move to phone meetings. If we need you to see documents we will email, or post these to you before the meeting.
We are always happy to answer your queries so please don’t stop contacting us about any concerns you have. We are expecting to field a lot of calls and issue a lot of advice surrounding cash flow in the next few months as the economic effect of partial shutdowns is felt.
We have the answers to these issues as and when they arrive.
Monthly and Regular Records
Where clients deliver us monthly records, we are asking that you open the first door of our office and leave these in the porch we will then collect these.
We have facilities to deliver records using electronic means and we are going to encourage all our clients to use using these facilities so that we reduce travel time and disruption over the coming months.
If you want more details on this please contact your accounts assistant or myself and I will get back to you.
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