Category: Uncategorized

Why we ask for your ID

Posted on | by Jade Donno

As part of our onboarding process we ask all of our clients for two pieces of ID. You might be wondering why we need this and what we do with it afterwards? We explain it all here.

Why we need your ID

As we are a regulated accountant, we are required by our regulatory body (AAT) to hold two pieces of identification for all clients for whom we act. This is so that we can complete anti money laundering checks on all of our clients and ensure that all of our clients are who they say they are.

What ID do we need

We need two pieces of ID from you:

  • Photo ID – such as driving licence or passport
  • Proof of Address – Such as bank statements, credit card bills, council tax bills, utility bills or driving licence.

All ID must be in date and display your current name.

Note – you can use your driving licence for either piece of ID, but not both. If you are giving us your driving licence please also submit an additional piece of ID so that we can still have two pieces of ID for you.

How do we use your ID

We request your ID using our Karbon client portal. This is the most secure way of getting your ID to us and is preferred to email which is not as safe.

Once in our possession, we upload it to our secure cloud storage system, Sharepoint. It is never saved onto individual computers.

We will use your ID to confirm your identity during our anti-money laundering checks. If we have not met you face to face we may arrange a zoom call with you to make sure you are the same person as in your ID.

All of our systems are GDPR compliant.

When we’ll need you to update your ID

If you have changed your name for any reason, we will need an updated copy of your photo ID and proof of address with your new name. If you haven’t arranged for updated ID yet we can accept your marriage certificate or deadpoll document until you can obtain your updated ID.

If you move address, we will need updated Proof of Address ID. We understand that these can take a while to come through but if you can get them to us as soon as you have something, in these cases often bills are the first thing to come through, then we can get started on updating our systems.

We will check your ID once a year when we update your anti-money laundering check. If we find your ID to be out of date we will simply request that you send us an updated copy as soon as possible.

How to use Karbon’s Client Portal

Posted on | by Jade Donno

Welcome to the 1 Accounts client portal! This portal is an online management system that allows you to easily and safely send, receive and store all of your accounting and tax information online.

What does this mean for you?

The client portal allows you to review and approve your accounting and tax information with the click of a button. It also allows you to view open and closed requests and any current requests we’ve sent to you.

Why are we doing this?

It’s a safer and more efficient way to handle your accounting and tax. It simplifies the process for you and allows us to serve your individual needs better. It also provides you with more flexibility, you can comment and ask questions directly in the portal. Your accountant is immediately notified and can take action. This eliminates the need for email and keeps it all together in one place, so you can review it at any time.

Review Tasks

You will receive an email with your tasks. Click on ‘manage checklist’ to access the tasks you need to complete.

You will automatically see all the tasks assigned to you for completion.

Please note: if you open this link on one device, and you’d like to access it on a different device, click the link again and it will ask you to “Send Access Link”. This will send another link to the originally sent email that will allow you to access it from the computer.

Comment, ask questions and upload files

You’ll be able to comment, ask questions and upload files on each of the tasks, which your accountant is immediately notified of and can take action.

Click Comment to comment or ask questions on a task or click upload files to attach files to a task. To add files to a comment click on the paperclip icon on a comment while composing.

Log in

By logging in, you’ll have access to all your open and closed requests, including current client requests that haven’t been completed. You’ll also have copies of documents you have uploaded, so you can keep track and easily find what’s been sent.

  • If you have a login, follow the instructions and log in (example A)
  • If you don’t have a login click the ‘create account’ button and it will ask you to create an account (example B).
  • If you forgot your password, click the forgot password link and follow the instructions (example C)
Example A
Example B
Example C

Once you have created an account, you can access the client portal at any time. Once you are signed in, you will be taken directly to the client portal which looks like this.

Magic Link

The main way you will access the client portal

Spend money to make money

While you can save a couple of hundred pounds doing your own books, you won’t save as much with an accountant and you could actually end up losing a lot more. With an accountant on your team, you can save both time and money while having the reassurance and peace of mind that you’re making sound business decisions for your future.

If you would like to learn more click here to get in touch.

Or feel free to use our chat box —>

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Want to read more….

Why knowing your numbers is important

Posted on | by Jade Donno

Every Sunday, Paul reads The Sunday Times to keep up to date with current affairs and to read the great reports in the business & money section.

In his column, Julian Richer of Richer sounds talks about the importance of knowing your numbers and taking an interest in the bookkeeping and accounting side of your business as well as the selling.

On a recent team meeting, facilitated by Heather Townsend of the Accountants Growth Club, it dawned on us that very few clients actually go into their accounting software, study the reports, and ask questions on a regular basis. We are now spending extra time explaining things like profits and balance sheets.

One of our long-established clients used to regularly ask us questions regarding overdrawn director’s accounts, why they didn’t have any cash in the bank, and if they were really making a loss. They joined our successful business growth plan and we explained how a balance sheet works and the impact of stock on the profit and loss account. We discovered that a lot of time was spent on R&D and a lot of stock had never been counted, especially if it was fully assembled.  By understanding how it all worked fully and how to run off the reports this business owner will have a much better understanding of their business.

The article in the Sunday Times by Julian Richer does a great job of illustrating just how important it is to know the broader financial details of your business and not just your turnover. It is also important to understand your profit, KPIs, and your balance sheet!

We are committed to trying to help our clients have a better understanding of their numbers as it can really help with making decisions to do with their business and improve cashflow. We offer all new clients training on their accounting software so that they have a basic understanding of how it works, and we regularly publish blogs on a huge variety of topics so that our clients are able to educate themselves even when we are not available.

1 Accounts Team Building Day March 2022

Posted on | by Jade Donno

Last week we closed the office for the whole day so that our team could enjoy our first Team Building day since the pandemic started!

We have added several new team members since our last team building day in 2019 including Fran, Katy, Che, Charlie and Harry! This is a huge growth for any firm but especially for one that puts family values at the forefront. This day was incredibly important for us to all bond as a team now that we are back in the office with all our new team members. It was also nice to be able to socialise outside of the office!

Axe throwing with Wild Blades!

Katie organised a wonderful day for us all. We visited Wild Blades, another local Haverhill business, for a day of axe throwing and team building challenges!

Despite the warnings of snow, the weather started out sunny but cold. Handy as the entire day was outdoors. Dan and Toby from Wild Blades gave us a safety breifing (axes are dangerous!) and then taught us the standard one-handed throw.

After a bit of practice, most of the team got this, some even hitting bullseyes early on! Jenni M. had an advantage as she had done it before, and it should be no surprise to anyone that Paul, James, Adrian and Charlie picked it up quickly.

Unfortunately, there were a couple of us who didn’t manage to master the one-handed throw. No matter how hard she tried, Fran couldn’t manage to hit the target with the right end of the axe using this method. Luckily, during a tea break, she practiced with Toby and tried a two-handed throw, and finally managed to hit the bullseye! Seeing this, Jenni D. also decided to try this method and also found it much easier.

Playing Games

Once we could all actually hit the target with the axe, we started playing games! First, we did a couple of quick rounds to see who could score the most. The first round was won by Paul (no surprise there) and the second round was won by Che! Charlie and James maintained a consistent second and third place. There were many other games including naughts and crosses, hit the card, and thump the stump.



Team Building Challenges

After a lovely lunch, we then began the team building activities. We had to work together to complete a series of 9 tasks in order to complete the Viking ship and sail to victory. It came down to the wire, but with us all working together and putting our strongest team members forward towards the end, we managed to complete all the tasks with 19 seconds to spare!

Overall we had a lovely day and feel like a much stronger team because of it, both in team spirit and arm strength! Dan and Toby from Wild Blades planned a fantastic series of events and were wonderful hosts and teachers who joined in with our banter perfectly. We highly recommend them.

A big thanks to Katie for organising the day for us, we can’t wait until the next one!

1 Accounts Team at Team Building Day - Wild Blades Axe Throwing

Why do we ask for your bank statements?

Posted on | by Jade Donno

Depending on which service you are on, you will find that you receive requests from members of our team asking for copies of your bank statements.  You may receive different emails from different team members depending on the work they are undertaking for you.  Whilst we try to eliminate asking for the same information on multiple jobs sometimes there are instances where information is requested more than once.  This may be sent as part of an auto request from our system, then again manually by an individual looking at your records in real-time.
We would like to clarify why you are asked for these and why it is so important they are provided to us when asked.

Why do we request copies of your bank statements?

We request copies of your bank statements to check the balances in your accounting software are correct and that all transactions have been correctly accounted for.  Many of you will have ‘bank feeds’ from your bank accounts which feed transactions directly into your accounting software.  Whilst bank feeds are usually reliable there can be instances where they drop out for security purposes or there are blips where transactions are missed or duplicated by the feed.  In order for us to spot these errors in a timely manner, and to ensure your records are always as accurate as possible, we will ask for copies of your bank statements for a given period or as at a given date to check.
If entering transactions from your bank account manually into your accounting software without bank feeds there is always a larger risk of errors – if you would like to discuss bank feeds with us or you need any help with this please get in touch.

When will we request copies of your bank statements?

Depending on your service levels with us or the nature of your business you will get asked for statements at different intervals.  This could be in relation to the following jobs:

  • Bookkeeping service (once a month)
  • Monthly Review (once a month)
  • Quarterly Review (once a quarter)
  • Year-end accounts – 3 months before your year end as a 9 month ‘Health Check’ and again once your year-end date has passed
  • Sole trader accounts and tax return – annually (unless you have our sole trader bookkeeping service)
  • Ad-hoc – if we (or you) notice there has been a problem with the bank transactions or feed we may ask for copies at unusual intervals

How do you upload your statements for us?

You will receive an email from us that looks something like the email on the right.
To upload your bank statements, you need to click on “manage checklist”. The next page will ask you to input your PIN. If this is the first time you have done this process then you will be asked to create one. If you have forgotten it, there is a link underneath to reset it.


You will then be taken to your checklist where you can upload your statements. You will also be able to see the due date, exactly what we need from you, and be able to send us a message using the comment function. There is no “submit” button, but once everything is uploaded we will be able to access it at our end and will be notified that you have uploaded your statements.
The system we use is called Karbon and it is completely cyber-secure and GDPR compliant so you do not need to worry about your information.

What happens if the bank balance in your software does not agree to your bank statements?

If we complete your bookkeeping we will identify and correct any bank issues as part of our service at no extra charge.
If you complete your own bookkeeping we will help you identify the difference.  We can complete any corrections for you for a fee (on request), or alternatively you can complete the corrections yourself. If you complete your own bookkeeping we would advise you check the bank balances in your software to the bank statements weekly ideally or monthly at the latest to make sure any error are picked up in good time. If you need any help with this or are struggling with your bookkeeping please get in touch.

Autumn Budget 2021

The autumn 2021 budget

Posted on | by Jade Donno

Small business owners hopes for some crumbs of comfort from the chancellor in his budget and autumn statement were dashed. The triple hit on small businesses coming from April 2022 is still very much happening.
Watch Paul’s response in this video or keep reading below.

The triple hit?

Hit 1

Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

tom and jerry hitting each other
hit in the face

Hit 2

The dividend tax rate for basic rate taxpayers will increase from 7.5% to 8.75% from April 2022. Higher rate and additional rate taxpayers will see their dividend tax rates increase by 1.25 percentage points.

Hit 3

In April 2022 all 3 rates of National Insurance Contributions (NIC) will increase by 1.25%. Then in April 2023, the 3 rates of NIC will reduce back down to their current levels and the new Health and Social Care Levy will come into place.
minion getting hit

As was leaked this week, small business owners have another hit to their finances….

Hit 4

The National Living Wage is increasing from £8.91 to £9.50 an hour from April 2022.What does this mean for your business? It means that your wage costs – both salary and National Insurance contributions – have increased significantly. We can help you understand what this means for your profits and how income you can safely take out from your business.

So what else was announced in the budget which is relevant for small business owners?

A reform of business rates

  • A new temporary business rates relief in England for eligible retail, hospitality and leisure properties for 2022-23. Over 90% of retail, hospitality and leisure businesses will receive at least 50% off their business rates bills in 2022-23.
  • The government is also freezing the business rates multiplier in 2022-23. This will support all ratepayers, large and small, meaning bills are 3% lower than without the freeze.
  • From 2023, a new business rates relief will support investment in property improvements so that no business will face higher business rates bills for 12 months after making qualifying improvements to a property they occupy.

A reform of R&D tax credits

  • The qualifying expenditure will now include data and cloud computing costs
  • R&D tax reliefs will at some point be only allowed to be claimed for activities taking place in the UK
  • Later on in 2021 the government will set out plans to tackle abuse of and improve compliance with the R&D tax reliefs later in the autumn

Other announcements relevant to small business owners:

  • The Annual investment allowance which was raised to £1m temporarily is now being extended to 31 March 2023. After this point, it will revert back to the £200,000 limit.
  • The Recovery Loan Scheme will also be extended until 30 June 2022 to ensure that lenders continue to have the confidence to lend to small and medium-sized businesses. Finance will be available up to a maximum of £2 million per business, supporting them to recover from the impact of the pandemic and to grow. The government guarantee will be reduced from 80% to 70% to encourage the lending market to move towards normality as the economy continues to recover.
  • Vehicle Exercise duty for HGVs has been frozen and the HGV road user levy has been suspended for another 12 months from August 2022.
  • Apprenticeships funding will increase to £2.7 billion by 2024-25 – the first increase since 2019-20. Part of this funding will include, by May 2022, a new enhanced recruitment service for small and medium-sized businesses to help them hire new apprentices. The £3000 apprentice hiring incentive for employers will be extended until 31 January 2022.
  • From 2023, the government will introduce exemptions for eligible plant and machinery used in onsite renewable energy generation and storage, and a new 100% relief for eligible heat networks, to support the decarbonisation of buildings.
  • Simplification of the Alcohol Duty System. Drinks will be taxed in proportion to their alcohol content.
  • Pubs serving draft beer and cider will have their duty rates on these drinks reduced by 5%
  • Fuel duty is frozen at 57.95 pence per litre UK-wide for 2022-23
  • The duty rates on beer, cider, wine and spirits will be frozen for another year
Electrician and number 1

What help is there for the Self-Employed?

Posted on | by Jade Donno | Leave a Comment on What help is there for the Self-Employed?

What help is there for the self employed?

It seems that every day the realities of the situation the economy is in just gets worse. I am sure you are like us you are pleased that the government is pumping money into small businesses. But what happens if you are self-employed or trade as a sole trader rather than limited business?

So, included in this blog is a summary of what help is available for you if you are self-employed or worried about your personal financial affairs.  We are monitoring this closely and will be in touch once we know more.

Universal Credit 

Universal Credit is a monthly payment to help with your living costs. It is available for anyone, even if you are self-employed. But as always you need to meet fairly specific criteria; namely you are on a low income or out of work.  If you’re expected to look for and be available for work, then it needs to be identified whether you’re ‘gainfully self- employed’.

Gainful self-employment means that:

  • your main employment is self-employment
  • you have self-employed earnings
  • your work is organised, developed, regular and in expectation of profit

As you would expect, you must provide evidence about your business and what you are earning through your business.

Money tree in hand

If you’re gainfully self-employed, your Universal Credit payment may be calculated using an assumed level of earnings, called a Minimum Income Floor.  It’s based on what an employed person on minimum wage would expect to earn in similar circumstances. If you earn more than this, then your Universal Credit amount is based on your actual earnings. If you earn less, the Minimum Income Floor is used to work out how much you can get. You may need to look for additional work to top up your income.

To check if you are eligible for Universal credit go to: https://www.gov.uk/self-employment-and-universal-credit

Mortgage Repayment

From 17th March you can ask for up to a three-month repayment deferment on your mortgage to give you some breathing space. This deferment applies to homeowners and buy-to-let landlords, to allow them to pass on the payment reduction or deferment to their tenants. It will not affect your credit score. However, you must agree your repayment deferment with your bank, otherwise you may skip a payment and it will show a default on your credit score. Please speak to your bank if you want to organise a deferment on your mortgage.

House key ring

Talk with your network and get creative

Now is not the time to lie low. Now is the time to get talking to your network. Firstly pick up the phone, otherwise email or message via social media. They may be aware of some opportunities for you to generate some work. Now, is also the time to be creative with your skill set. For example, if you run a hospitality business and can’t work from home, how about offering skype one-to-one cooking classes?

Event cancellations

If you lost money due to an event being cancelled the outline is:

  1. Contact the organiser first
  2. Organisers that postpone events don’t have to refund until they announce the new date
  3. Ask your ticketing platform about refunds
  4. If you are struggling to get a refund then your credit card provider could help with a refund

You might not get all of your money back – but it’s worth fighting for.

Event plan written on notepad

Time to Pay Arrangement

Lastly, a dedicated Helpline has been set up to help businesses & self-employed in financial distress and with outstanding tax liabilities. Call this helpline to be able to agree a bespoke Time to Pay arrangement with HMRC. This is where you agree with HMRC a bespoke payment plan for your outstanding tax liabilities. If you are concerned about being able to pay your tax due to COVID-19, talk to us first as we can help you plan your call to HMRC’s dedicated helpline on 0800 0159 559.

July 2020 payment on account

As announced on Friday you could defer this payment but as it is 22 March, I would keep this option on the back burner as you may still have to pay it in January 2021, it is effectively a loan.

VAT Deferment

VAT on ipad

We do not know enough about this, but again it is a deferred loan that may help you now.  If you are going to take advantage of this “loan” I would take it, put it in the bank and pay it back once business is back as usual, treat it like a quick safety net but it is a loan.

Our Advice

As your accountants we can help you as part of our service (no extra charge at all!) we can help you to plan initially for the next four months by looking at your business online and helping you to forecast.  We can also negotiate with HMRC or the banks for you and anyone else that you want us to, we are here to help.

I would also suggest that you list all of your household bills including leisure time (restaurants, shopping etc) and make decisions about what you are paying for, again we can help.

Once we have done that the next step is to Plan Plan Plan and Plan even more.  We will all get through this together and once we are back to business in full with the right planning and staying on top of your business you will without doubt be stronger and in a great position to thrive.

Working From Home where POSSIBLE

Posted on | by Jade Donno | Leave a Comment on 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

Posted on | by Jade Donno | Leave a Comment on 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

Raised £33274.97 for St Nicholas Hospice Care

Giving Back to the Community

Posted on | by Jade Donno | Leave a Comment on Giving Back to the Community

Giving Back to the Community

As a business giving back to the community is important. The size of business or contribution is unimportant, however having a caring and socially aware ethos is paramount. Many businesses are becoming more aware of their corporate responsibilities and are focusing on their environmental efforts, fundraising events, Employee wellbeing and volunteering. To give back doesn’t have to be costly or time consuming; a small contribution will help the community, your brand and staff morale.

As a business we fall into the definition of a Micro Business. We are thankful to the businesses, people and community that has continued to support us and has helped us develop the 1 Accounts we have today.

Paul’s Inspiration 

When Sage launched the Sage Foundation Paul was really impressed that such a large global company wanted to give something back. The best part was that employees could have time off to work on a community project or for a charity of their choice. This inspired Paul to create 1 Accounts on the same ethos.

Sage Accounting accounting partner

Teach a Man To Fish

Memories are golden board

1 Accounts is based in Haverhill, Suffolk. It is so important to help our community in Haverhill. As Accountants we are often asked to be treasurer of various clubs and charities. However we would rather teach them to manage this part of their organisation themselves. We have often provided training and guidance free of charge to help. As they say “give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime”

We have also helped charities with their independent examination reports. These charities often have a special meaning to us as a Business.

Sponsorship 

We have supported national charity LPUK. Little People UK is close to our hearts as our Sales Manager Katie has Dwarfism. The LPUK helped Katie when she was younger by giving her a community of others with the same condition. In 2018 Paul rode the London 100 with two friends to raise the much needed money for the charity. Although Paul found this to be a huge challenge, he found participating for the charity very rewarding.

Volunteering 

Voulenteer postet note

This year we are taking a leaf out of the Sage Foundation book. We are going to volunteer at the Haverhill food bank Reach. This means all of us at 1 Accounts will spend a day helping them give back to our community.

St Nicholas Hospice 

Another charity we love to support is St Nicholas Hospice. The fundraising team at St Nicholas Hospice have their work cut out as the Hospice needs a phenomenal £11,000 every day to function. Last year we sponsored their Accumulator Challenge and helped raise £33274.97 for the hospice. We are proud to say we will be sponsoring again this year and hope to raise even more!

Accumulator Challenge Awards

Rehabilitation 

Paul giving a speech

Paul has also delivered talks on running a business at our local prison, Highpoint. Paul loves this as he gets some great (and honest) conversations on setting up and running a business. This takes half a day but doesn’t cost a penny to deliver.

Feeling Inspired? 

With a bit of planning and a little time, you can really help your community. The sense of belonging and wellbeing on you as a business owner and your team can be immense.