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We are about to start our fourth month of calculating furlough pay for employers who have been furloughing staff on and off since early March.  From 1st July we will have an even more challenging set of calculations if employers have employees working some of their normal hours and furloughing them the rest. We will be able to do the calculations but how well will flexible furlough work for small businesses?…
One night last week a fire broke out in a building next to the office where my son works.  Everything in the office was destroyed and the building will have to be repaired.  Due to the current situation staff were already working remotely so work could continue without too much delay. A situation such as this would come as a massive shock to all business owners who have their own premises and highlights…
Last week I wrote about checking your unpaid bills, your creditors, to see if the bills outstanding are accurate or whether there are old unpaid bills which could be duplicates or could require credit notes. This week I am going to cover debtors - the customers who owe you.  Whilst all business owners think they are on top of their unpaid invoices and know exactly who owes them and how much they are owed, often the accounts tell a different story.  …
Creditors are the suppliers you owe money to but have you ever thought to check whether the report generated from your accounts software is accurate? When we take over bookkeeping work one of the things we check is the age of the supplier invoices awaiting payment. …
March is the chosen financial year end for more than 60% of our bookkeeping clients, whether they are a sole trader or a limited company.  So in April and May we are completing March and April bookkeeping for our bookkeeping clients, completing their VAT returns and finalising their accounts to hand over to their accountant.  This year, despite the additional workload created by COVID-19,…
Whilst you have time to spare and are looking to reduce your overheads now would be the time to look at the charges for taking payments by card.  You will be paying fees to offer your customers this service and every merchant services provider will charge differently.…
The last six weeks has been the most overwhelming time I have had in the 16 years since I have been in business.  The sheer volume of work created by the current situation which has not only significantly increased the time needed to do payroll four-fold but dealing with the almost continuous telephone calls and emails in that first two weeks from clients who just needed to talk things through and get some advice.  I really enjoy talking to clients…
Four weeks into lockdown and many business owners will be feeling the strain.  Whether that is from having too much work or none at all.  We work with many different businesses and have some who can't trade at all and others who have kept an income coming in by finding new ways of working.  Its inspiring that many can keep going but I know many business owners are frustrated by the forced inaction.  We know that business as we knew it will change and this is a great opportunity for those who have time on their hands to consider their business and how they can do things differently in the future.…
Today the HMRC online portal opened for claiming the grant against 80% of a furloughed employees wages, the employers' NI and the employers' pension contribution. From the reaction of employers you would think that today was the only day a claim could be made!  Perhaps they think…
Those of you who have more than a couple of employees and run your own payroll will probably be finding the current situation a bit of a minefield.  Not only are we starting a new tax year this month with its changes in National Insurance contributions, changes to student loan thresholds, a change to they way holiday is calculated…
304 articles 
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Unit 21 Portway Business Centre
Old Sarum, Salisbury
Salisbury
Wiltshire
SP4 6QX

e: info@sandrasilk.co.uk
t: 01722 341820