Do you run a children's nursery?

Do you run a children’s nursery?

DO YOU RUN A CHILDREN’S NURSERY?

Beware of the new furlough rules! 

If you operate a Childs Nursery or playground and receive funding from the County, please be aware of the new rules that were introduced by the Government on Friday.


Click here for government guidelines

Due to this change in guidance you will now need to calculate the private and state funded proportion of your income to see how you can apply to Furloughing your staff. In some cases you may not be able to Furlough staff.

There is a good illustration on the update which we have copied below to help you:

If a provider’s average monthly income is 40% from DSG and 60% from other income, the provider could claim CJRS support for up to 60% of their paybill. 

This would be done by furloughing staff whose usual salary / combined salaries come to no greater than 60% of the provider’s total paybill. 

These proportions could change in subsequent furlough applications as a result of DSG income changing (but not where income from parents increased or decreased). For example, if this provider subsequently receives additional DSG income from a local authority as a result of providing additional hours of childcare, such that its new DSG income would represent 55% of its total income in February 2020, then its maximum use of the furlough scheme should, from that point, be reduced to 45% of its paybill. 

If you need help with this we suggest that you call your accountant immediately as this will cause a problem if you have furloughed your staff.

If your accountant can’t help we will do our best to help you, just e-mail jade@1accounts.co.uk with subject title ‘Childs Nursery URGENT’  and we will do our best to help you.

How to preserve your cashflow during Covid-19

How to preserve your cashflow during COVID-19 crisis

How to preserve your cashflow during COVID-19

As the saying goes, turnover is vanity, profit is sanity and cash flow is king. And never has that saying been ever truer. Use this tips sheet to help you preserve your cash flow so you are ready and able to trade again as normal when the restrictions lift.

Tip 1: Know when you are going to run out of cash

It is really easy to get caught up in hysteria and believe that your business is going to go bust. When we recently spoke with an insolvency practitioner, they told us that only 5% of the calls they are receiving at the moment are for businesses that are genuinely insolvent. If you haven’t already, it’s time to look at how long your cash will last if the lockdown restrictions remain. (If you need help with this, then let us know) When you know how long your cash will last you then you can take sensible decisions in regards to your business.

Money bag

Tip 2: Make sure your books are up to date

Book

I know we accountants are always telling you to keep your books up to date. But it now more important than ever to know the true picture of your finances. If you don’t know what you owe and what is owed to you then, you can’t take the right decisions. For those of you still relying on spreadsheets or desktop software for your books, now is the time to go onto the cloud. We, as a firm, can’t easily advise you if we are looking at out of date figures. And the benefit of the cloud is we can see exactly what you can see.

Tip 3: Look to take advantage of all the government financial help which is available right now

The best type of borrowing is the borrowing you don’t have to pay back. And there are grants worth £10k or £25k for most small businesses with premises who pay rates or who get small business rates relief. If you haven’t already claimed your grant from your local authority then give us a call. Once you’ve checked this look at the following to see if your business is eligible:

  • Deferment of VAT payments
  • Coronavirus Job Retention Scheme
  • Paid sick pay
  • Business rates relief
  • Accessing a Coronavirus Business Interruption Loan

Tip 4: Analyse your business costs and pare it back to the bare essentials

Now is the time to examine your overheads. What exactly can you eliminate or cut back on and still be, either able to trade, or be able to trade when the restrictions are lifted?

pound symbol

Tip 5: Do you have an opportunity to reduce your wage bill?

arrows pointing inwards

Wages are often a business’s biggest costs. Which of your employees can you Furlough or make redundant in order to save costs? If you believe you wouldn’t be able to employ your whole team again after the lockdown restrictions are lifted, you may be better off in making them redundant now.

Tip 6: Prioritise actions which are the quickest ways to generate cash

Normally they are in this order:

  • Chase late payers
  • Change your payment terms to get paid quicker with current customers or clients
  • Give long-term customers/clients the opportunity to pay in advance for work (potentially with a discount added?)
  • Bill any customer/client with outstanding work which can be invoiced
  • Focus your sales team on your warm leads
  • Consider what can be your business equivalent of a ‘toilet roll’, i.e. what can you change about the product/service you deliver or how you deliver it which will make it an ‘in-demand’ item?

With all these cash flow tips, we can help you take balanced and rational decisions about what to do to preserve your cash flow in these very difficult trading conditions.

Ice cream

How to keep employees motivated when working virtually

How to keep employees motivated when working virtually.

Working virtually for a day or two is often a welcome relief from the noise and distractions of the office. But after a while, as sure as the sun rises in the morning, the novelty will wear off. This tip sheet is there to help you keep your team happy, healthy and motivated regardless of whether they are in the office or at home.

Tip 1: Regularly pick up the phone to talk to employees

Imagine you were back in the office. You’d probably now and then circulate around the office and have a natter with your team. Of course, with everyone working virtually, this just isn’t feasible to do. So, make a point of picking up the phone to speak with a team member or two each day, just to see how they are.

Old telephone

Tip 2: Keep an eye out for who has gone quiet

In these uncertain times many people process their fear and uncertainty by going very internal. In other words, they will go quiet and not contribute much to any of the dialogue. If you have one of these members of staff, then make a point of giving them a phone call and asking them explicitly how they are feeling right now. And if your instinct says they are not fine if they say “fine” in response to that question, ask more questions of them.

Tip 3: Set up a group chat for each individual team and encourage a mix of 50/50 work vs non-work stuff

If you were sitting in the office every day you wouldn’t just talk work, so it is the same when your staff are working from home. It may take a while for the conversation to get going on the group chat, so much sure that you take the lead. See something which makes you laugh? Then share this. Getting annoyed by the kids being under your feet at home now? Then share this. Loving the fact that the sun is shining, then share this. Etc (You get the idea…)

Tip 4: Encourage your team to look for the positives

Thumbs Up

Right now, it doesn’t feel like much is positive. However, looking for the positives is a great way to counteract all the doom and gloom, and constant fear in our minds. You will need to lead the ‘being positive’ attitude with your staff. For example, how about on the group chat ask everyone to tell them something good which has happened today. Or share something which made them laugh.

Tip 5: Set up daily team calls

It depends how many staff you have whether you have all employee calls or individual team-based calls, or a mixture of both. If you have young, inexperienced or staff who are struggling working based from home you may like to have 2 of these calls; one in the morning and one after lunch. Ideally, in these calls you want everyone to answer these questions:

  • How am I feeling right now?
  • What am I happy, grateful or positive about?
  • What am I planning to get done today?
  • What help do I need to get this done today?

Tip 6: Encourage your staff to do some exercise and get outside every day

This isn’t the time or place to lecture about the benefits of exercise. But it is a great mood and immune system enhancer, and even more so when the sun is shining and we can get out into nature. (And we all need this right now!) Many of your employees may fall into the trap of working from their desk all day. So, encourage them to think about their own well-being and how they will look after their physical and mental health in this uncertain time.

Trainer

Tip 7: Help your staff structure their day

Calander

It’s really easy when working from home to get sucked into the myriad of distractions available… laundry, Netflix, social media, kids …. Therefore, you may need to have a 1:2:1 with each member of staff to help them think through how they are going to structure their workload, particularly if they now have the kids at home and need to spend time looking after them

Tip 8: Be the strong leader your team need

You need to be there and present for your staff. Now is not the time to hide in a corner and stop talking to people. Your staff are looking to you to keep them calm, positive and motivated. This doesn’t mean bottling up your own fears and vulnerabilities. Actually, this is the time to admit to your staff that you are scared too. Strong teams form when leaders are prepared to admit their vulnerabilities.

Strong arm

Tip 9: Take decisive action

Your team are looking for you to take decisive action and be clear in what you want and need from them. It’s pretty easy to get down and depressed when you don’t know what is expected or required from you. The more direction you can give your team now, the better the morale will be from your staff.

Tip 10: Encourage staff to have a buddy to check in with

Remember that your business is not just you. How about encouraging team members to buddy up and look out for each other?

Tip 11: Remember to praise and thank staff more than normal

We often take our staff for granted. So, now is the time to make sure you are showing how much you appreciate the effort from each member of your team.

Tip 12: Make it easy for staff to speak up in meetings

If you struggle to get your staff to talk in meetings, it is going to be even harder to get them to talk when you and they are working virtually. If this is the case for your business, then start a document which everyone can access virtually and contribute to with agenda items for the meeting. In addition to this, start each remote meeting by asking everyone to answer some basic questions in the chat box, such as “on a scale of 1 – 10, where 1 = very down and 10 = amazingly positive, where are you today”.

Tip 13: Don’t talk about ‘remote workers’, talk about ‘virtual working’ or ‘virtual team members’

The language you use with your team really does matter. Talking about people as remote or workers can really emphasis the distance between your team and contribute to a sense of isolation.

Calendar - virtual meeting

Running effective virtual meetings

Running effective virtual meetings

Videoconferencing has been available for decades for larger companies, but until recently the majority of meeting attendees would be collected in a meeting room, with only a handful of people joining by video or audio. It takes effort for those in the room to remember that anyone is taking part remotely and the very word “remotely” subconsciously lessens their impact on the course of the meeting.

Very few businesses have had to hold meetings where all of the attendees are in different locations, so many people are only now learning how to adjust “in person” meeting processes to fit a virtual space.

Arranging the meeting

The basic setup for a formal meeting is very similar to meeting in person. As usual, you would circulate an agenda, details of when and where the meeting is taking place, preferably a minimum of 1 day before. This gives everyone time to check that they have the right equipment or software to join. The most popular virtual meeting services make it as easy as possible to join, but if you have any doubts, it’s useful to circulate joining instructions.

As host, and especially if you haven’t done this before you should have  a trial run to make sure you know how to do basic things, such as muting microphones if any participants have a noisy background that could distract from others. If possible, it’s best to set audio so that everyone’s microphones are muted when they first join.

Microphone
Video Camera

Many companies have a policy of ensuring all attendees have video enabled. This may seem intrusive, but it does minimise the chances of misunderstandings if everyone can see a face instead of just a voice. It also helps add to the illusion of being in the same room.

If you need someone to take notes, nominate them in advance. If you don’t think it’s necessary, some virtual meeting services allow you to record the meeting, just in case you need to refer back. Remember to press “record” when the meeting starts!

Check how you appear on camera

Appearances still do matter in this time. Make sure that you are able to look into and through the camera when the meeting is on, rather than staring at the screen. Also make sure that your whole face appears on the screen, and the camera isn’t pointing at the top of your head or your chest.

Pick a quiet and tidy space for the meeting

But it’s not just how you appear on screen, it’s also what’s in your camera background. Given how quickly people were told to work from home and the restrictions on space, people are a lot more forgiving at the moment. But make sure you don’t have a messy room behind you, and try not to have washing – particularly things like underwear – drying behind you.

If possible try and pick a room for the online meeting where other members of your household will not be visible. Sometimes this is much easier said than done when you have children in the house. Particularly those of an age who don’t understand that “Mummy is on a call right now” means, do not disturb.

Starting the meeting

Hand Wave

It’s best for hosts to arrive 5 minutes early to the meeting, and get the meeting started early. This allows time for you to fix any problems and prevents any early birds from assuming it’s not working.

Depending on numbers coming, begin by welcoming each attendee, acknowledging their virtual presence in the same way as you would in person. It helps to get everybody into the same mindset as they would be if they were meeting you in the office. Just as you would in a face-to-face meeting, ask attendees what they would like to achieve or get decided in the meeting.

It’s often a good idea to have a few open questions ready to ask at the start of the meeting to get people to interact. If you have more than 4 or 5 people in the meeting, it is worth using the chat box to quickly capture people’s answers and keep the energy up at the start of the room.

Managing progress

Long meetings are often counterproductive in person, so the same applies virtually, even if people are sitting somewhere more comfortable. If you have too much to discuss, break it into shorter meetings with breaks, or circulate explanations in advance and ask for input. This avoids what Harvard Business Review calls “collaborative overload”, where you spend more time in meetings than actually working.

If more than a handful of people are taking part, make it clear when people can speak, to avoid people talking over each other. How you manage it depends on what’s under discussion. A team meeting would naturally mean various people take turns to give updates. A more free flowing discussion would involve you keeping track of who isn’t speaking and who’s dominating the conversation. You can draw quiet participants out by asking for their opinion on an item, or for an update on something.

You may like to have a rule that if someone wants to speak they put a physical (or virtual) hand up. This minimises the chances of someone talking over you on an important point.

People can be braver at a distance, so if there are disagreements, suggest following up after the meeting, when people have calmed down.

Closing the meeting

Once you’ve covered everything you need to discuss, it’s useful to summarise any decisions made and confirm who will carry out any resulting tasks. Even in person, it’s easy for misunderstandings over tasks and responsibilities to arise, so it’s doubly important to check things in a virtual meeting, where audio and visual cues aren’t as clear as usual.

Working From Home where POSSIBLE

Working From Home where possible

Due to the current Covid-19 crisis, the government has issued measures stating that everyone should work from home if they can. It is important to recognise that for many businesses, working from home is impossible as they are customer facing or perform manual work that requires employees to be present.

However a lot of businesses can be completely of partly moved to home working with some very minor changes. Administrative departments for example should be able to move to home working relatively easily. This way of working could turn into the new normal, with team meetings at hubs and offices a thing of the past. Whatever happens, our lives will definitely be different after this global health crisis.

As accountants it is our job to help our clients adapt to a changing business environment. We are pleased that we can lead the way in working from home, below are some tips for how to best optimise your business to be able to work from home.

Technical Tips:

Get laptops.  Ditch the desktop computer and buy yourself and staff members laptops, this gives you the flexibility to work anywhere. Our team all use Surface Books with small hard drives as we use the cloud for all our storage. Each desk at the office has a docking station which allows any staff member to use any desk with the same set up which allows for flexibility in the office as well.

Go Online. Get rid of your server and look at having all your software and storage online.  Our IT partner Platform 365 have helped us to ensure we can operate 100% online and provide us with much needed remote support.

  Microsoft 365. Changing to subscription-based Microsoft 365 has helped us so much. We store our files on One Drive and have access to the online versions of Microsoft Office’s programmes such as Word and Excel. This allows our files and documents to be securely shared and accessed by our team on our laptops and smartphones from wherever we are working.

Accounting Online.  Our preferred software is Xero, partly as it is an online platform and allows you to run your business from anywhere, but we also work with other platforms that have a similar function. Having your accounting software online with tools such as Receipt Bank makes working online and communicating with your accountant very easy. For example, we can remotely cover your book-keeping team should they fall ill and be unable to work. This will give you peace of mind that your business will still be able to manage its cash.

Online tools. There are many online tools that can help your business to thrive and make you more efficient, we are more than happy to help and advise you with these. We use Karbon to keep track of our work and see where the team are on our clients jobs, Futurli to see trends in our business and our clients, and Zoom to keep in touch with our clients and the team.

Personal Tips:

Paul regularly works from home on a Wednesday and many of our team also have at least one working from home day a week. Here are our top tips for working from home for you and your employees

Limit Distractions. Try not to work where the family are, they are distracting and you won’t get much done. It can be tempting to have family and friends pop round for a coffee whilst you are working, but you need to be strict and politely tell them when you will be available.

Get Dressed.  Make sure to change into your daytime clothes and don’t be tempted to sit working in your PJ’s all day, especially if you have video calls! This will have the psychological effect of getting your brain ready for work as opposed to chilling out all day. The same goes for working from your bed.

Keep moving. Exercise is important for keeping both your body and mind healthy, especially when working from home. I try to not spend sustained periods of time sat in isolation at my desk, I have found that even going out for a coffee or sitting in another part of the house or garden helps to break up the day. Taking the dog out for a walk at lunchtime or going for a morning run are great ways to include exercise into your daily working routine.

Flexible Hours. For us a working day is 7 1/2 hours and as long as the work gets done they can be completed at any time in the day. If it suits to do something during the day and finish in the evening that is fine.

Communication. Keep in regular contact with the rest of your team. We have a scheduled group call at 10am every morning to catch up with our team members who are working from home during this time.  It helps us all stay on the same page and allows us to continue to work together well.  It also stops us from getting lonely!

Hands in the middle with 1 Accounts logo

Tough Times Ahead – We Are All In This Together

Tough Times Ahead – We Are All In This Together

Without doubt we are facing an unprecedented difficult time. Small business owners are trying to make money for themselves, their family and staff. It is looking likely that we will have to make some cutbacks and decisions that go against the grain.

As a small business we have a team to pay and clients to look after. We could just throw in the towel and say that we are all doomed; but we have sat back, feet on the table and reflected on the situation. We have looked at our own business, how we should respond and what new opportunities are available.

1 Accounts is a family run business with Paul, Jenni, Jade and Katie Donno all working in the office. They all depend on 1 Accounts as well as the fantastic team around them. We have very strong family values and we hope that this comes across to our clients in all that we do.

Unfortunately we will know someone that may well loose a loved one and we will be there to help them and support them in the best way we can. Pauls dad has been in poor health and the Donno family are continuously worried about him contracting the virus. We have found ways of supporting them with Paul’s mum phoning him nearly everyday with her food shopping order.

We are being told that 80% of the population will catch the virus. Experts have said that it is actually a mild flu and most people will recover. This means that at the end of this pandemic we will need to live again. The 1 Accounts team are looking forward to going back to the pub for a beer of three.

Here are our top tips for small business owners: 

Be Positive 

There is a lot of fake news out there and the media loves to sensationalise what Boris says. On March 16th Boris announced that where possible work from home. He used the phrase where possible as it is not possible for everyone. We would suggest you limit the news, especially Facebook (hard we know) so you can stay positive.

Smiling Child

What do your customers need?

Shipping button

We have seen some great examples in and around Haverhill. Nine Jars are delivering coffee and paninis to the high street for £5, they are also offering food deliveries from their normal menu; for every 10th meal they deliver they will donate one to the local food bank. This is a great example of how to think ‘outside of the box’. Another local business Ben & Ella’s Farm Shop are offering an ‘Isolation Box’ that they can deliver.  If customers can’t come to you – go to them.

Even Domino’s have a ‘no contact’ delivery service now – so even the big boys are adapting.

Small Wins

Look for the small wins and keep your overheads covered. When this finishes in a couple of months people will want to engage with you and will be craving human contact. You will need to plan, plan, plan to be able to survive the next couple of months. It is a good idea to watch China and see what they are doing, they are in front of us and will be showing the rest of the world what is next and how there economy is starting to bounce back. Also watch out and listen to people who have had the virus and how quickly they have recovered from it.

Communicate!

Phone

Tell your customers what you are doing and if you are suffering, tell them that too. Being open will help to gather the support you need. Also keep your team informed, this is a worrying time for them too. You need them as much as they need you.

Don’t cut back on your Marketing!

If anything increase your marketing and keep your message going. Tell your investors and suppliers what is happening and ask for help if needed.

If you are stuck on your social media speak to Jade and she will be happy to help you free of charge whilst the crisis is on. We want to help you in anyway we can to keep your business afloat. Afterall we need your business to keep going, to keep ours going.

Cash Is King 

You will need more cash now more than ever before. Securing your cash is paramount. The government has announced that it will help small businesses with Statutory Sick Pay and government back lending; we will update you on this when we know more.

HMRC are extending their time to pay arrangements for PAYE, VAT and Corporation Tax to help you through this. We again can help you to organise this.

Check your business interruption insurance to see if you are covered and work with your broker to see how you can claim.

Look at your personal position and see if you can cut costs. Sky sports are not showing the Football or Rugby, now is the time to discuss this and get a reduction. Do you need the cinema and Gym membership if you can’t go?

We can help you and have changed our business model to treat your immediate needs above our normal day to day work.

We are all in this together.

Think Outside Of The Box

Your business will change by the end of this and hopefully for the better. We have lots of ideas and would be happy to brainstorm with you free of charge to help you get through this difficult period.

Gift Box

Be Kind

Above all, help your fellow small business and they will help you now and in the future. Do not take this opportunity to sell hand gel or toilet rolls at an inflated price, you will possibly have a more comfortable time now but you will not survive when business returns to normality. Paul still avoids a garage that inflated costs during the fuel crisis. Harming your reputation could be detrimental in the future.

 

Please give us a call – even if it is just to vent and we will be more than happy to help.

We are all in this together

Laptop on the grass

How can your business become Eco-friendly?

How to make your business more eco-Friendly.

Since the industrial revolution both carbon levels and global temperatures have increased dramatically. The carbon pollution stays in our atmosphere and consequently traps the heat from the sun. This can cause extreme weather such as intense flooding or droughts. 97% of climate scientists agree that man-made pollution is warming our climate. In May 2019 the UK declared a Climate Emergency with many local areas stating they want to become carbon- neutral by 2030. To do this we need to work together, making a few small changes to our businesses.

Reusable Plastic Bottles

Plastic convenience products have made a huge contribution towards climate change. However the sales of bottled water are still on the rise. Look around your office, are your employees drinking bottled water now? Plastic bottles take hundreds of years to decompose if they make their way to landfills. One of the simplest ways to make a difference is to get rid of the disposables and purchase a reusable water bottle for your team. You will spot in our 1 Accounts office that each of the team have pink bottles from Hyd8 m8.

Plastic Bottles

Reduce Paper Waste

Paper being thrown in the bin

Technology has come on leaps and bounds in the last 10 years. Whilst some businesses are embracing how technology can help, others are stuck still using paper processes. Moving to the cloud can not only help the environment but will help streamline your business processes too. Consumers are becoming increasingly aware of the environmental impact of human activity causing businesses with paper processes to be less efficient and under scrutiny from its customers.

Leave the car at home

Road transport contributes 22% of total UK emissions of CO2. Only 6% of the UK population are walking to work and only 3% are cycling. Walking & cycling can have great health benefits and can help reduce the carbon emissions that are caused by commuting to work. From the 1 Accounts team, Jade, Katie, Kerry & Paul all walk/wheel to the office. For some people walking or cycling to work will not be possible however encouragement to those who can cannot hurt. For those meetings where you have to drive a long distance or even fly, consider using a video call using software such as Skype or Zoom. You can also bring in a work from home policy, allowing you & your employees to work from home even if only on a part time basis. This will reduce the energy used in your office spaces each day both saving money and cutting your businesses carbon footprint.

Man riding a bike

Office Space

Small changes such as changing to LED Lightbulbs can conserve energy reducing your electricity bills and will help protect the environment. You can also improve the air quality of your office by investing in office plants. Plants will help to clean the air and specific plants such as peace lilies, rubber plants and snake plants can help to remove contaminants too.

Power Off

Many businesses unnecessarily waste energy by not turning off their computers or appliances. To help you both save money and conserve energy make it compulsory for your employees to turn off their computers. Then identify any electronics in your office that stay on overnight, such as the printer and assign someone to shut these off at the end of the day.

Power Button

Reduce, Reuse and Recycle

Recycle sign

The three rules of protecting the environment are reduce, reuse and recycle. Set up a recycling bin for your employees. This will help avoid any recycling going into the waste bin due to an absence of recycling bin in the office.

Making your business eco-friendly does not have to be a big chore, by just making a few small changes you can really make a difference.

Watch this space for our next blog on how your business being eco-friendly can help your business:

  • Save money
  • Attract customers
  • Utilise tax incentives
  • Increase employee retention
  • Build a good brand reputation and increase publicity
  • Keep up with competition
  • Expand revenue opportunities.

An inbox showing 6 emails

Instant Response Time

INSTANT RESPONSE TIME

Growth in technology has lead to the need for instant gratification. With everything available at the click of a button our patience is dwindling. As a result of this emails can be hard to manage as people often expect an instant response.

The development in technology has been astounding, just 20 years ago iPhones didn’t exist and Spotify was just an idea. Air BnB and Uber were not even considered as possible. Technology has made our lives easier, but also for businesses it has made expectations higher. This is especially true for responding to emails. Here are our top tips for email management:

Instant responses

Instant responses are an unrealistic expectation. You are not a robot. Setting those expectations can be difficult, after all you want to keep your clients happy. Work emails on your phone can then stretch this expectation to be 24/7 rather than just in work time. Think of the effects this may have on yourself and your team. Put yourself first, emails can wait until the morning.

Allocate Time

Allocate time for your emails. At 1 Accounts we get a huge volume of emails with Paul and Jade opening their inbox in the morning to occasionally near 100 emails. These can be overwhelming at times especially when you have planned your day to complete other work. That is why we now allocate specific time to deal with them. We have an hour in the morning, 30mins after lunch and then an hour at the end of the day. Emails then get shut down for the time in-between allowing the team to focus.

Focus

Email notifications can be a huge distraction. To allow for ‘deep work’ these distractions need to be turned off. This means, turning off the push notifications on you phone and computer. This will allow you to focus on the job in hand, probably resulting in a better job and quicker result. You have allocated time for your emails so you won’t miss anything important and your clients will still be happy.

Sort

Sorting your emails is important. We use Karbon as our workflow system, that really helps us with our email management. To sort we scan through the inbox to see if there is any ‘junk’ that can be deleted straight away. This will clear more than you think and make the inbox less overwhelming. We then go through and answer any emails that we know will only take 1-5mins or that you can delegate. If there is an email regarding work that you know a team member is working on, pass it on, you don’t need to deal with it. Anything that will take longer than 1-5mins that you have to deal with gets scheduled into ‘deep work’ as it will require time and focus. Using this method will give your emails structure and efficiency.

So after reading this blog, turn off your push notifications, allocate time for your emails and allow time for ‘deep work’ and focus this should result in a happier team and a happier you.

hands with a car

Is the Jaguar i-Pace a good company car?

Is the Jaguar i-pace a good company car?

Here at 1 Accounts in Haverhill and Cambridge we are often asked can I buy a car within the company?  The answer is of course yes. However when benefit in kind tax and class 1A National Insurance is explained our clients most likely either buy the car privately or buy a Van.

Things may be about to change with Electric Cars.  One of our clients has just purchased a Jaguar i-Pace and Paul Donno our Director also has his eye on one for next year, although his wife Jenni still needs a little convincing!

There are of course other Electric cars on the market and the bigger luxury brands will be competing hard to get the company car market, with Audi and BMW starting to offer full electric.

Our Favourite 

The i-pace is our favourite at the moment and it is 2019 World Car of the year. Take a look

Our Calculations 

We are expecting a high increase in electric vehicles next year due to the new benefit in kind rates which are very attractive.

Our calculations are based on the advertised basic price of £64,495.

The rate for the tax year 6 April 2019 to 2020 is 16% and this is a Benefit in kind of £10,319.  If you are a basic rate taxpayer the tax payable is £2,064 and higher rate tax payer (40%) £4,128.  Your company will also pay 13.8% in Class 1A National Insurance of £8,900.

However the Benefit in Kind Charge for the tax year 6 April 2020 to 5 April 2021 is just 2% and this is a benefit in kind charge of £1,290.  The tax charge is £258 Basic rate and £516 Higher Rate with a class 1A payment of £178.

As you can see the saving is a huge £12,334 which includes the Class1A NI.

It is also worth considering the Work Place Charging Scheme allowing you to provide charging points for your workforce. Click here to find out more.

Capital Allowance 

The other real benefit is Capital Allowance. Electric cars qualify for First Year allowances which means that the entire purchase price is allowable against Corporation Tax. If you buy the vehicle after 1 April 2020 this rate is 17%.  Based on the Jaguar i-pace that is a Corporation Tax saving of £2,193. Click here to read more. 

Our Recommendation 

We recommend the electric car for your company vehicle from 6 April 2020, make sure that if fits your personal and business needs.  We would expect demand on the popular models to be high and waiting lists long therefore you may want to start looking very soon.

Be careful of any caveat relating to Brexit as we understand that some manufacturers are asking you to sign to accept an increase in duty especially if we have no deal.

We expect to see many electric cars around Haverhill next year. Paul is hopeful on persuading Jenni to have one (on the company of course).

Mind mapping for marketing

Marketing For Business

Marketing For Business

Marketing hasn’t changed. But the approach towards it has become far more relational. You used to explain the services you offer and told people to contact you. Now its about sharing helpful information. Advice and ideas. Tips and hints. Great stories.

Your prospective client consumes this content over a period of time and when they are ready they come to your because you’re top of mind. Or when they’re referred to you they come to your content, consume it quickly and make a faster quicker decision.

It’s called content marketing. There are a variety of formats (video, blog, social post, events) and at it’s core is your client. Its all about them: who they are, what they struggle with,, how you approach it.

There’s a 12 step process to generate the very best content (bringing you the very best clients), and It goes like this:

  1. Niche
  2. Issues
  3. Content
  4. Brand
  5. Design
  6. Website
  7. Email
  8. Follow up
  9. Blog
  10. Events
  11. Campaigns
  12. Social Media

Each one builds on the one before. If you tried to start at the end, with social media, you’d have to back up to create a campaign, you need to know your audience, their issues, the content you’re sharing. You need to be clear about your brand and how you design things and have a website and email platform …. And it all comes together!

(Written by Karen Reyburn)