Coronavirus Cashflow Advice

Go through everything you pay for and stop anything that you don’t need right now i.e. subscriptions

Speak to every finance company i.e. HP/Lease/Loans etc and ask for a payment break.

Call HMRC and use the ‘Time to Pay’ scheme for a break on any outstanding Tax/Paye/VAT bills (see link below). Also see the page for VAT & Tax Breaks.

For more details on this visit the GOV website.

Sell anything you don’t need but be aware that valuations may have dropped on vans etc.

Clear out old stock – the internet is a great source for this

Can you pivot and use your skills/vans/equip to fill a gap in the market now!

Chase those who owe you money but remember that they too might be suffering tough times. Could you offer them an early payment discount?

Do a Personal Household Survival Budget (PHSB)

Most importantly – do a cashflow forecast. Ideally the next 3 months on a week by week basis.

Our team are also able to help you with forecasting and we have templates/tools to help with this.

How can we help? Email us