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January 4, 2021 By Des Ingham Leave a Comment

NI Chamber President Urges Businesses To Face Changes Head On & Remain Flexible

In a New Year address the President of Northern Ireland Chamber of Commerce & Industry, Ian Henry, has urged businesses to stay focused on meeting the formidable challenges ahead, which include dealing with the changes brought upon by Brexit and the ongoing trading restrictions due to the Covid-19 pandemic. He believes that businesses will have to be flexible and remain fleet of foot to survive and thrive in 2021.

Rethinking Tried & Trusted Business Models

He was quoted in an article by Emma Deighan in the Belfast Telegraph today, saying that businesses would grappling “with the changes brought by Brexit and further Covid-19 restrictions, with many having to rethink tried and trusted business models, supply chains and market strategies”.

He went on to say in the article that:

“2020 has been a year of disruption and frustration for so many businesses. As we enter 2021, businesses begin the year operating yet again under enhanced restrictions as a result of Covid-19.

“Our members want to be able to open without interruption, for their customers and suppliers to be able to come and go freely, for trade to recover and for confidence to return but we must do this safely and within the guidelines.

“Without a doubt, the arrival of mass vaccination gives our business communities hope for a better year in 2021.

“Even with a Brexit deal, firms face an enormous amount of change in terms of how they trade. Responsibility rests squarely with the UK government to provide crystal-clear guidance that lets businesses plan into 2021 and beyond. The alternative is a new year that begins with even greater turbulence for supply chains, trade and markets – and higher costs for us all, leaving us with a disadvantage.”

Businesses Trading Globally In 2021

On the ability of businesses to trade globally he said: “The expected digitalisation of work has been rapidly accelerated. There is now a need to amend the curriculum for subjects at all levels to include ‘systems skills’ such as ICT and data analytics alongside ‘human skills’ like empathy and strategy. We must invest in languages to support international trade, focusing most on those used in growing economies like Asia. The government must also urgently prioritise the retraining of young people within disrupted industries for other opportunities.”

“As they have done throughout the pandemic, business people are ready and willing to work collaboratively with the public, private, academic and voluntary sectors to build back a thriving economy for all.

All Sectors & Departments Must Work Together

“We call on the UK and Irish governments, the NI Executive and local authorities, academia and the voluntary sector to work together, regardless of location or political background, to make a better future a reality.”

He concluded: “With the New Year comes renewed energy and hope that the next 12 months will provide companies with the certainty, conditions and support they need to prosper.”

At WHR Accountants we are also here to give support to businesses in Northern Ireland. For more details on our range of business services give our team a call on 028 3752 2909.

December 29, 2020 By Des Ingham Leave a Comment

6 Week Lockdown Brings More Challenges To Businesses

Here we are between Christmas and New Year and we are now into the 6 week lockdown period that has been introduced in Northern Ireland. For many businesses the days just after Christmas are one of their most profitable times of the year as they launch sales and people go out to the high street in their droves to spend any money they have been given as a gift.

Non Essential Shops Closed

Unfortunately those shops classed as non essential will be closed over these 6 weeks, so they are going to find these weeks extremely challenging indeed.

This first week of lockdown is particularly stringent. A form of curfew is in operation after 8pm, all shops will be closed from that time each evening along with any close contact services and all gatherings, whether they be indoor or outdoor, will be prohibited until 6am on the next day.

During the whole 6 week lockdown the whole hospitality industry will be shut down apart from takeaways and deliveries. All retail deemed non-essential will be closed, even for click-and-collect services. Close contact services, which include such as hair salons and beauty parlours, will not be able to operate during this 6 week period.

More Virulent Strain Of Coronavirus

The latest strain of the coronavirus seems to be far more virulent than previous strains, which seems to be behind the increasing infection rate across Northern Ireland and the rest of the UK. Thankfully it does seem that the vaccines produced to counter the virus will be just as effective on this new strain and also it does not appear any more dangerous than previous strains to the human body, however because it is so infectious it is going to put even more pressure on the health services. Because of all this a lockdown seemed pretty inevitable and indeed this has what has come to pass.

A Difficult Start To 2021

So the start of 2021 looks like it will be just as difficult for the business community as the vast majority of 2020 has been. There is no doubt that we are laying all our future hopes on the vaccines being produced, which we all hope and pray will be effective in protecting the community from the virus so that once rolled out to the majority of the population we can get back to our normal daily lives.

This is our last blog until next year so we would like to wish all our customers and readers a happy, safe and prosperous New Year!

December 21, 2020 By Des Ingham Leave a Comment

Merry Christmas To All Our Clients

Firstly we would like to take the opportunity to wish all our clients, and anyone reading this blog article, a safe and peaceful Christmas and a happy and prosperous New Year.

A Challenging Year

As we spoke in our last blog, 2020 has certainly been a challenging year for us all. When news started coming out of China at the start of the year that a new virus had emerged, no-one could have predicted what a devastating impact it would have on the whole world, with thousands dead and economies brought to the brink.

At the time our government officials seemed pretty unconcerned by the issue, saying we had a robust system in place to deal with any outbreaks. Unfortunately this turned out to be far from the truth and we have been battling this extremely contagious virus ever since.

New Coronavirus Variant At Large

It is believed that the latest variant of the coronavirus, which appears to be around 70% more transmissible, is also at large in Northern Ireland, which if this is true will undoubtedly lead to a big increase in infections.

So now we have a new 6 week lockdown looming in Northern Ireland, which comes into force on December 26th straight after Christmas, with the hope that this will stem the rate of transmission long enough to get as many people as possible vaccinated in the intervening period.

Vaccines A Ray Of Hope

Thankfully we have the ray of hope provided by the effectiveness in trials of the vaccines being produced to prevent people getting Covid-19. As we move forward into 2021 let`s hang onto that hope!

Finally just a reminder that we will be closing for the festive period on December 22nd and will not be re-opening until Monday 4th January. Hope you and your family stay safe and healthy.

December 16, 2020 By Des Ingham Leave a Comment

WHR Accountants Christmas Opening Times

We thought we would inform you of our opening times during the festive period in our blog today so please take a note if you need to that:

We will be closing for Christmas on Tuesday 22nd December and re-opening for business on Monday 4th January 2021.

I think it is fair to say that 2020 will go down as one the strangest and most difficult years of our lifetimes. As with most businesses up and down the country it has been an extremely challenging year and we have had a great deal of upheaval to deal with.

However we have hopefully come through the worst that the virus can throw at us and we are definitely looking forward to next year with a great deal of positivity. We are certainly looking to come out the other side even stronger and ideally we can help as many businesses as possible to get back on their feet too.

Not Out Of The Woods Yet

It would be foolhardy to say that we are now out of the woods and we can sail off into the sunset just yet, as until a large portion of the population get vaccinated we will all have to be very vigilant and keep to the mantra of keeping a social distance, wearing a mask and washing hands as often as possible. But the start of the roll-out of the first vaccine has given everyone a lift and could just be the big turning point that we have all been waiting for.

Brexit On The Horizon

As we have mentioned many times in our blogs recently, Brexit is another factor that could cause a whole host of problems for the Northern Ireland business community come January 1st. Again there is some hope, as today we have heard there has been some positive noises coming out from the various factions that a deal could finally be brokered between the UK and the EU, albeit this could be done at the beginning of next year rather than before it. Let us sincerely hope that this will be the case.

As we have been here for all of our clients old and new right through 2020, we will be there for them in 2021 also. We can partner with you going forward to help your business with all its accountancy needs and to help you survive and indeed thrive in the future. So if you need to get in touch with us please do not delay, ring our offices on 028 3752 2909.

December 15, 2020 By Des Ingham Leave a Comment

Many Covid Relief Grants Yet To Be Paid Out

Many businesses in Northern Ireland are still waiting for their Covid relief grants from the government, despite almost £50 million being paid out so far. Officials are still wading through application forms and hopefully the vast bulk of these will be processed before the new year comes in as the delay has led to a great deal of frustration and angst for many businesses.

Over 7,000 Applications Have Been So Far Approved

Stormont Finance Minister Conor Murphy is quoted in the Belfast Telegraph regarding the localised restrictions support scheme, saying:

“13,925 applications have been received, 7,025 have been approved resulting in £49m being paid to local businesses.

“4,198 applications have been rejected.”

“Staff were working through the weekend to clear the outstanding cases as quickly as possible and I expect more payments will be released this afternoon,” he added.

Inaccurate Applications Holding Up The Process

He went on to say that there had been a large number of inaccurate applications received which had held up the whole process of granting applications up, saying:

“The purpose of these schemes is to get money as quickly as possible out on to the ground, and the applications have to match, they have to be correct, and there was a high level, for some reason, of applications that were inaccurate in terms of business addresses, bank account details and ineligible for the scheme and perhaps applying for the wrong scheme,”

Disquiet In The Business Community At Delays In Payment

Nevertheless there has been disquiet among the business community of the delays in payment at such a difficult time for them when they need all the support they can possibly get. The government are obviously very stretched both manpower wise and financially of course, but support for the Northern Ireland business community must be a priority, as we are going to need this community to provide the economic impetus to get the country back on its feet in the coming months and years.

If you have a business and you are unsure if there are still grants or some kind of funding you might be able to access why not get in touch with us here at WHR Accountants and we can check all this out for you. We can also help with your accounts of course and with a business plan if you require a detailed plan to see you through these difficult times. Get in touch with us by giving our team call on 028 3752 2909.

December 14, 2020 By Des Ingham Leave a Comment

We Hold Our Breath As Brexit Trade Talks Continue

Yesterday the deadline to broker a trade deal between the UK government and the EU was extended further after negotiations had seemingly reached deadlock. Neither side will be happy to walk away from the table with a no-deal (or a Canadian style or Australian style deal as many members of the government like to refer to it!) so it made sense to extend the deadline to give both factions more time to thrash out some sort of agreement.

Failure To Reach Agreement Would Result In Extra Friction On Trade

Here in Northern Ireland we are following this saga more than most as no deal will affect us here probably more than any other place in the UK. As Seamus Leheny, policy manager for Logistics UK in Northern Ireland, pointed out in an article in the Belfast Telegraph yesterday, failure to reach agreement would result in “extra friction” on trade from Great Britain to Northern Ireland.

He said: “The Northern Ireland Protocol acts as a parachute for Northern Ireland in the event of a no-deal.

“But a no-deal will result in extra friction on Great Britain to Northern Ireland trade and raises issues on Northern Ireland to Great Britain.

“This is why we desperately need that deal.”

The article by Michael McHugh goes on to say that:

Northern Ireland Protocol Regulations

`Under the Northern Ireland Protocol, trade in goods between Northern Ireland and Ireland, and between Northern Ireland and EU member states, will continue unaffected, with no change at the border, no new paperwork, and no tariffs or regulatory checks, official advice states.

It says: “At the end of the transition period, there will be no change for the movement of goods covered by the Protocol between Northern Ireland and EU member states, including Ireland.

“That means there will be no new paperwork; no tariffs, quotas or checks on rules of origin; nor any barriers to movement within the EU Single Market for goods in free circulation in Northern Ireland.

“No EU member state will be able to apply any tariff or related barriers to goods from Northern Ireland.”

The EU is obliged under Article 5 of the Protocol to guarantee tariff-free, frictionless access in any scenario from December 31 2020.

Guidance to businesses in Northern Ireland adds: “This does not just apply to movements from Northern Ireland to Ireland: it applies to movements to any other EU member state, including for example through the use of transit procedures.

Northern Ireland Businesses Will Have Unfettered Access

“Northern Ireland businesses will have unfettered access to the whole of the UK market as well as the guaranteed ability to trade freely within the EU Single Market.

“In addition, any approvals or certifications secured in order to place goods on the market in the EU will be recognised when seeking to place the same goods on the market in the United Kingdom – avoiding the need for additional approvals to access the UK market.”`

We hope this article has proved useful to you. If you have any issues that need resolving or some other business related issue you need help with please get in touch with our dedicated accountancy team on 028 3752 2909.