‘Clients have found CBILS vital and the Business Bounce Back Loans proved to be very popular’
TaxAssist Accountants is a network of accountants across the UK who deal with independent businesses and self-employed professionals. They service over 77,000 businesses as a network and operate from over 375 locations.
TaxAssist has remained committed to providing an exceptional service to its clients throughout the Coronavirus pandemic.
Daren Moore, Group Commercial Director, said, “we’ve invested many extra hours supporting our clients to ensure they are making the most of the Government support packages that were put in place over the last 3-4 months and now we’ve moved on to planning the next 6-12 months to support growth and to ensure they remain in business.”
The company has been in regular contact with its bank and has found it very supportive throughout COVID-19. Daren commented, “The more up to date your bank is with your financials then we tend to find the more supportive it can be.”
While TaxAssist hasn’t taken a CBILS loan itself, many of its clients have found them vital and the Business Bounce Back Loans proved to be very popular to keep businesses going.
Daren said,: “Most of our team remained working long hours to support our clients and communicate regularly over what has been quite a stressful time for business owners. We processed around £10m in furlough claims in April alone so the scheme was heavily used by employers which has proven this to be a vital scheme”
On the subject of lockdown restrictions easing and businesses being able to start operating normally again, Daren , was positive. He said: “The measures are more feasible now for smaller businesses with the one-metre-plus rule in place. Business owners are resilient and will always find a way to trade. We’ve been able to meet clients over video meetings and using cloud accounting tools in order to continue working with them so we’ve remained agile through the lockdown.”
Daren added that TaxAssist has embraced the modern technology that has made ‘face to face’ business meetings possible during recent months. Answering whether he thought what has happened will change the way TaxAssist operates going forward, he said: “Yes we feel we will continue to offer video appointments with clients as the technology allows you to present financial information easily and some will still be or feel vulnerable and may prefer that option which we’re very happy to provide.”
At the end of the interesting discussion, we discussed whether the TaxAssist marketplace will have altered significantly or been damaged by this crisis.
“Some businesses will have been damaged by this crisis and we hope they are able to get back on their feet as lockdown has lifted now,” said Daren. “The next 6-12 months will show us the true damage this has caused. Equally, many see opportunity and there have been record growth figures in newly formed E-commerce businesses during lockdown so a start-up boom is well under way.”
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