Following the end of an unprecedented week of change and consequent challenges for business owners, directors and managers, we have been constantly thinking about how to protect the interests of our clients and what we advise them to do to best protect them.

We hope that you have found the series of Advisory Notes that we have been producing in the last week or so of interest and help to you all.

We are grateful for some very kind feedback from clients in relation to our efforts, especially given the circumstances in which people took the time to acknowledge us – thank you, it is always encouraging when positive feedback stems from our relationship.

We just wanted to clarify a few things about working with us over the coming weeks.

 

  1. Keep In Contact

The Partners have been considering what range of services and support we can be offering to our valued and loyal client base, and how we maintain those services through the duration of the COVID-19 measures for those that want us to be involved and support them.

  • We have always prided ourselves on offering fixed fee services, a platform we believe encourages you to make contact with us and seek our advice – please use this service, more than ever it has real value to you now, it costs you nothing and will not in accordance with our standard business arrangements
  • If you do need us to work upon a project for you that would ordinarily generate a fee (bearing in mind we too are trying to match demand to costs), we will work with you regarding how that will be funded – we are here to support our clients;
  • We are, as you would expect, working off of a stable financial platform that allows us to continue to deliver “best in class” service and continuity of service that may not be capable of being paid for now whilst business is suffering; we will seek to agree a payment plan when things start to look better where the circumstance dictates.
  • We are here for you – please use us.

 

  1. What If I Cannot Afford To Maintain Your Services?

You have provided us with loyalty and much appreciated custom by appointing Barrons as your advisers – we are not about to withdraw the umbrella as soon as it starts to rain.

Whilst we seek to try to treat it as business as usual in terms of supporting your needs, we are clear upon the fact that financially we are all facing challenges and decisions to make.

We understand that some of you will need to think about cash flow pressures, and we will support you to maintain the provision of our services wherever possible.

We are a business, we have staff to pay too, but we want to help and if to do so necessitates some payment deferrals then talk to us please – the worst thing you can do at this time is excommunicate yourselves from a trusted adviser.

 

  1. Key Barrons Services – Ongoing Support For Our Clients
  • In relation to business advisory services remember
    • We are experts at liaising with Banks and preparing business plans and forecasts;
    • We have set up a bespoke temporary division focused upon preparing and submitting CBIL loan applications;
    • We are available to help short term forecasting reviews
    • We are here to help advise you through these challenges
  • In relation to our bookkeeping and management accounting services,
    • we are trying to ensure we react fairly, appropriately and proactively to the circumstances that you face;
    • We cannot develop a “one size fits all” approach, there are just too many different circumstances but maybe you would appreciate our immediate thoughts:
      • Where you require us to continue to prepare information and reports to you then we will keep delivering;
      • Where to continue to support you
        • necessitates us working more hours than we would ordinarily we will not be seeking additional charges;
        • does not necessitate us to work the same level of hours as we would ordinarily we will reduce our charges accordingly – we will do this automatically for all work undertaken from 1st April;
      • In relation to our payroll service, it is very much business as usual, we are operating with a full team, dealing with
        • your additional queries and supporting developments around the Job Retention Scheme – there will be no additional charges;
        • whilst we do not yet know what the new portal that HMRC are developing will mean for us all rest assured we will be here to assist wherever and however possible.
      • In relation to our taxation services, we remain open:
        • We know many of you will want to seek our assistance in arranging Time To Pay Arrangements;
        • And others will have extensive questions about self-employment, income extraction from family companies and the like;
        • Be seeking to promote R&D claims
      • In relation to our statutory services, we remain open and will deal with your requirements as they fall due, whilst accepting that these may not be weighing heavily on your mind at this time.

Barrons has put together a helpful guide to running your business during the coronavirus crisis.