Member Since: 10th Jun 2015
21st Oct 2020
At the time we were 3 partners, 2 offices, about 30 staff and about £1.5m in fees
Today we are the same 3 partners, 1 office, 35 staff and £2.2m in fees.
In answer to the next question asked, there are upfront costs, but overall it’s cheaper and more efficient to be paperless.
Just take rent, we went from 2 offices with 9,000 sq ft to one with 3.5k sq ft
This was done by eliminating files, file storage and desk draws.
Our stationery went from circa £30k pa to under £7k pa
Turnaround times dropped from circa 15 weeks to circa 9 weeks
You learn to work differently across the firm and you will (eventually) reengineer everything you do.
And everything was seamless this year when we went 100% WFH from March to June.
21st Oct 2020
We went paperless years ago.
We started with this guide: Going Paperless https://www.amazon.co.uk/dp/0903854295/ref=cm_sw_r_cp_api_i_1u.JFbF8WG2S8
At the time Kevin Salter from 2020 Group was publishing loads about how to do it and we pretty much followed that.
I’d suggest the guide and a couple of hours on google.
24th Aug 2020
The main alternative is Receipt Bank
5th Jun 2020
5th May 2020
It’s absolutely deliberate by HMG!
CJRS has been too successful; by excluding us 50% of the potentials won’t apply and 50% of the applicants will be turned down because it’s wrong.
The savings will be considerable without them having to exclude anyone.
5th May 2020
The client has not described it properly to you.
She doesn’t put the money on the card, she buys advertising and as a reward, the adverting company puts no cash redeemable credit on a card.
It’s a tax Scheme that was doing the rounds about 18 months ago which IMHO is a load a BS, but which comes with the usual QC opinion.
If I can find / remember who was offering this, I’ll post a link up here.
22nd Apr 2020
This debate was had about 3 weeks ago.
I think the HW stuff is out of date.
3rd Apr 2020
Depends how long the lockdown lasts
3 months - 10%
6 months - 40%
12 months - 75%
We’re getting very different reactions when we rings clients (and we’re ringing everyone of our 1750)
30% are busier than ever
60% have plans to survive 3 months
10% have already given up hope (indeed one poor soul has sat in his living room with little food and a case of scotch the last 10 days thinking that BoJo had died because he has CV19 and that the food had run out in the supermarkets and he was really just awaiting death himself any time now...)
1st Apr 2020
Clients not paying: “I know now is tough, but for me to me able to support you, I need to have money coming in just as you do. Could you pay 50%? [dont speak until after they have]
Yes - job done
No - “okay, 25% [dont speak]
At all costs keep the dd alive even at £1.
If they cancel completely, disengage; they will never pay you, and will keep taking.
Expenses: superfluous memberships of info sources, clubs, magazines etc. Sponsorships. All direct mail and telemarketing campaigns. Entertaining (but that’s been kind of forced on us), junior staff (furloughed)
26th Mar 2020
No one knows.
The consensus around the accountant forums seems to be use the average of the last 12 weeks earnings