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December 8, 2020 By Des Ingham Leave a Comment

The Vaccine Roll-out Begins In Northern Ireland

This is a pretty momentous week here in Northern Ireland, as not only will the Pfizer/BioNTech vaccine to protect people from Covid -19 begin to be rolled out today, lockdown restrictions will also be eased on Friday which means we will be getting back to something resembling normal and long may that continue!

First People Having Their Vaccine Today

Vaccine Is Rolled Out In Northern Ireland

The first people will be having their vaccinations today, these will include the elderly and people in high risk categories. Approximately 25,000 doses of the vaccine have arrived here. The roll-out is of course a major undertaking and so it will take some time before the benefits are felt and the authorities are still urging extreme caution as we go about our daily business. The number of positive cases of coronavirus is still high here in Northern Ireland, so we are not out of the woods yet but a clearing is in sight as Boris Johnson might say!

Authorities Are Still Urging Caution

Health minister Robin Swann, quoted on the Belfast Live website, is urging caution, believing the next days are crucial. He said:

“We still have a number of crucial days left of the current lockdown measures and we need to fully maximise the benefit from these.

“The more we stay at home and minimise our contacts with each other, the more we can push down infection rates.

“That way, we can protect each other and help give the health service some vital breathing space.

“We are going into this festive season with hopes and fears co-existing side by side. There is great optimism with the first of the Covid-19 vaccines now approved and its long roll-out beginning this week.

“But there are genuine fears that this optimism could lead to people letting their guard down much too soon.

“It is vital to remember that this vaccination programme will take many months to complete and our rate of progress will depend on available supplies. It is a long-term undertaking.

“While we are entering a new phase, the pandemic is far from over. This is a time for maximum self-discipline – a time for us all to be ultra-vigilant.”

Restaurants & Bars To Reopen On Friday

As from Friday restaurants and cafes can open for business again, which will be a great relief to those businesses, as well as pubs as long as they serve their drinks accompanied by a substantial meal. Whether that includes a scotch egg seems to still be up for debate!

So with the rolling out of the Pfizer/BioNTech vaccine, along with other vaccines potentially on the horizon, the signs are looking a whole lot more promising. With government help with funding until businesses can truly get back on their feet, hopefully most will survive to fight another day and even prosper as 2021 rolls on.

December 2, 2020 By Des Ingham Leave a Comment

Pfizer/BioNTech Vaccine Approved By UK Government

There has been excellent news coming through in the last week or so about potential vaccines for Covid-19 and the positive results there have been in trials.

Rolled Out For Mass Vaccination In Near Future

Today we hear that the UK government have now approved the Pfizer/BioNTech vaccine, with the hope that this can start to be rolled out for a mass vaccination programme in the very near future. There has been talk this could be as early as next week but we shall see.

Around 800,000 doses are on their way to the UK as we write this blog, with 25,000 of these coming to Northern Ireland. In total there are 40 million doses secured for the UK with 10 million of these arriving before the end of 2020.

People need two doses of the vaccine for it to be effective and there is no doubt great anticipation to see how effective this will be in protecting the population from coronavirus, and to see how quickly this will help us get back to some form of normality and for the economy to start growing once more.

Here are details of how the vaccine will be rolled out and who is top of the list to get the vaccine as laid out in an article in the Belfast Telegraph:

How A Vaccine Will Be Rolled Out

`Work has been going on behind the scenes to ensure that NHS staff are ready to start delivering jabs to the most vulnerable, as well as health and care workers, as a priority.

The NHS Nightingale Hospitals have also been earmarked as sites for mass vaccination clinics – among other uses.

In addition, NHS leaders have said there will be “roving teams” deployed to vaccinate care home residents and workers.

Based on the current information, the vaccines being developed require two doses per patient, with a 21 to 28 day gap between doses.

New regulations allowing more healthcare workers to administer flu and potential Covid-19 vaccines have also been introduced by the Government.

Who Is Top Of The List To Get A Coronavirus Vaccine

`The Joint Committee on Vaccination and Immunisation (JCVI) has examined data on who suffers the worst outcomes from coronavirus and who is at highest risk of death.

Its interim guidance says the order of priority should be:

Older adults in a care home and care home workers
All those who are 80 years of age and over and health and social care workers
All those who are 75 years of age and over
All those who are 70 years of age and over and clinically extremely vulnerable individuals, excluding pregnant women and those under 18 years of age
All those who are 65 years of age and over
Adults aged 18 to 65 years in an at-risk group
All those aged 60 and over
All those aged 55 and over
All those aged 50 and over`

It is so nice to write about something positive for a change! We all look forward to the day when we can go about our business without any worries over the spread of this terrible virus. That is all for now, if you want any help with regard to your accounts etc you know where to find us, call us on 028 3752 2909.

December 1, 2020 By Des Ingham Leave a Comment

Are You Ready For The Brexit Transition?

The Brexit transition period ends on January 1st 2021 but it is believed that up to 40% of businesses in Northern Ireland are totally unprepared for this transition. As it stands goods being shipped from GB to Northern Ireland are going to be facing new checks and controls from January with very little clarity from the government being given on the operational changes that will be in place.

Unsure Of What Processes Will Be Required

This is of course not just confined to Northern Ireland, as many businesses across the water are also unsure about what processes will be required to continue trading with Northern Ireland.

We can`t be surprised really that it has come to this, time is fast running out and there has still been no deal thrashed out between the UK and the EU. And both businesses and government ministers have been far too busy grappling with the Covid-19 pandemic to fully focus on the Brexit transition process.

Just to focus everyone`s minds, let us remind ourselves that from the start of next year Northern Ireland will be staying in the EU market for goods with the rest of the UK leaves. Northern Ireland will continue to apply EU customs rules at the ports which will entail checks and controls on all goods entering from various other parts of the United Kingdom. Paperwork is likely to be thoroughly checked and some of the goods being shipped will be physically inspected to ensure everything is in order.

No Further Extension To Brexit Transition Period

Prime minister Boris Johnson has time and again confirmed that there will be no further extension to the Brexit transition period but that measures had been put into operation to support businesses in Northern Ireland with further details to be announced shortly.

Ensuring They Will Be Able To Continue To Trade

So time is fast running out to be prepared for Brexit, both for businesses and the various official bodies involved. Any business that exports or imports goods to the UK mainland needs to ensure that they will be able to continue to do so without any interruption on January 1st. And they need to make costings to see what further expenditure will be required to carry on trading.

If you need any help with the above then we would be happy to be of assistance. If there is any aspect of the Brexit transition process that you are unsure of and need advice with, then please give our offices a call on 028 3752 2909.

November 24, 2020 By Des Ingham Leave a Comment

New Financial Support Package Unveiled For Businesses

As news comes through of very positive trial results for the Oxford vaccine, there has been more good news for Northern Ireland businesses as a new financial support package has been unveiled by Stormont, which has pledged over £200 million in support of the business community.

£95m Voucher Scheme For High Street

Financial Support Package For Northern Ireland

Also households in Northern Ireland will share in a £95 million voucher scheme which they will be able to spend on the high street in a bid to energise our towns and cities. This will come in the form of a pre-paid card for spending on the high street.

The Localised Restrictions Support Scheme will also be extended, this is intended to help non-essential retail, leisure and entertainment firms which will have to shut from Friday under a new two-week lockdown.

Other measures in the package, as detailed on the Belfast Telegraph website, include:

£20m to extend the 12 month rate holiday to the manufacturing sector.
£10.6m for 1,000 wet pubs facing additional financial hardship
£5m to top-up the tourism and hospitality scheme
£4.1m for bed and breakfasts which previously missed out on business support because they pay domestic rates and
£3m for local businesses grow their online sales

Longer Term Support On Business Rates

And Finance Minister Conor Murphy is quoted in the same article, saying:

“In addition to this £213m for business and recognising Covid will continue to be with us for the months to come, the Executive has also agreed to hold £150m centrally for longer-term support on business rates.

“I hope to be able to provide an update on this in the very near future.”

And also in the article Aodhan Connolly, director of the NI Retail Consortium, said: “The £95m that will be given to households to spend on the high street is particularly welcome as it creates a virtuous circle of spending that will support retailers in the leaner months of January and February as well as being of huge benefit to those households whose budgets are already squeezed. This will make a tangible difference to the high street, to livelihoods and too lives.”

Hospitality Firms & Entrepreneurs Crying Out For Help

And Angela McGowan, CBI Northern Ireland director, added:

“NI hospitality firms and entrepreneurs have been crying out for extra help for some time. Targeted support that helps both households and firms in the lead up to Christmas will go part-way to cushioning the blow of what’s been a very difficult year.

“Fast delivery is going to be as critical as the financial support itself.

“Let’s not forget many of these companies have had little or no income for at least nine months. The Executive now needs to engage swiftly with NI business, allocate these as well as outstanding Covid funds, and deliver a recovery plan that enables companies to protect jobs and livelihoods.”

Let us all hope that a corner is slowly being turned and businesses can get back to what they do best. The upcoming vaccine, and these financial support packages will, fingers crossed, be a bridge to better times ahead here in Northern Ireland.

Meanwhile for any accountancy help or advice please give our offices a call on 028 3752 2909 where our friendly team will be able to assist you.

November 22, 2020 By Des Ingham 1 Comment

Calls From Businesses For A Brexit Transition Extension

The chief executive of Manufacturing Northern Ireland, Stephen Kelly, has told MP`s that most businesses in the region will not be ready for the mandatory border checks that look like coming into play on January 1st 2021, and has asked for an extension to the transition period.

Northern Ireland Protocol Will Involve Border Checks

As things stand the Northern Ireland protocol will involve border checks down the Irish sea at the beginning of next year, whether a deal is thrashed out in the meantime or not. Kelly believes a bit of give and take on the part of both the EU and the UK will be required in order for there to be progress and for the new system, whatever it may eventually be, to work.

An article in The Guardian says that Kelly told the Brexit Select Committe that: “Selling a lasagne at an Asda in Strabane that might make its way to Donegal is not going to pollute the entire single market,” so therefore he called for pragmatism to be used on both sides.

“The EU need to make it work,” he said but they needed to get businesses to “make it stick”.

“We are more than a pawn in the game and say that’s a tug of war and we’re the rope and that rope is sadly being stretched,” he warned.

Depressing Lack Of Progress In Talks

There does not appear to be any great progress in the talks between the EU and the UK so far, with time running out fast. In the same Guardian article as above the European commission vice-president Valdis Dombrovskis is downbeat and believes there is substantial work to do, he is also quoted saying: “I will not start putting specific deadlines: this week, next week. We have seen many deadlines come and go but there’s one deadline which we’ll not be able to move – 1 January,”

And a senior EU diplomat is quoted, saying: “I don’t have the impression that there is much progress,” the diplomat said. “It is time to say: we must now come up with contingency measures, 1 January is getting close. We need a safety net. Of course this sends out a political signal. But we have a business community that we want to tell in good time what to do. ”

Concerning Times For The Business Community

These are very concerning times for the business community in Northern Ireland and it is to be hoped that some deal will be sorted out at the eleventh hour and also that both sides show some pragmatism when it comes to trading between Northern Ireland and the other relevant parties.

November 17, 2020 By Des Ingham Leave a Comment

Hopes Of Growth Next Year As Economy Shrinks By Over 10% In 2020

There are hopes that will the economy will grow back at a steady pace next year after a reduction of over 10% this year claim business advisers EY Ireland.

Strong Labour Market & Large Public Sector Holding Up Economy

They believe that the strong labour market here in Northern Ireland allied to a large public sector would help the economy up from further shrinkage and there could be an economic rebound of around 6% growth in 2021. But one fly in the ointment could be Brexit and what sort of trade agreement will be thrashed out.

Speaking to the Belfast Telegraph, Professor Neil Gibson, chief economist for EY Ireland, said: “The region is heavily dependent on consumer sectors and has a concentration of industrial sectors which have been strongly impacted by Covid-19, namely heavy machinery and transport equipment. However, NI’s favour for large public sector organisations, so often cited as a weakness, has provided stable and secure employment for many.”

The Flexibility & Adaptability Of NI Businesses

On the fact that unemployment levels had remained fairly stable after spiking at 60,000 a few months after the pandemic, Professor Gibson said: “This partly reflects the effectiveness of the furlough scheme but is also an endorsement of the flexibility and adaptability of NI businesses and workers, a commonly cited positive amongst investors to NI.”

And on a future trade agreement between the European Union and the UK he said: “Despite the UK having already left the EU, much remains unclear regarding NI’s unique position, making it very hard for businesses to effectively prepare.”

Michael Hall, managing partner for EY in NI, is also quoted in the Belfast Telegraph, saying:

“Digital technology is unlocking considerable productivity gains across a wide range of firms.

“There is a concern that in a region heavily dominated by very small firms, there may be a lack of resources to make this investment.

“However, in an increasingly broad range of sectors, technology is lowering the cost of entry, removing the cost associated with peripherality and driving competition. Brexit will require exporters to have better data systems in place and it is becoming clearer that digital progress for firms will be a requirement, not an option.”

Glimmers Of Hope On The Horizon

It is certainly a difficult time right now for the vast majority of businesses in Northern Ireland but there are certainly glimmers of hope on the horizon, one of course being the vaccines for Covid-19 that are due to be introduced in the next few months. If they are successful then we could be in for a very much better year in 2021. Meanwhile if you need any help and advice, you know where we are, call our team on 028 3752 2909.