Shropshire Star

Telford accountant warns safety vital in return to work

A financial expert is welcoming plans to get people back to work but only when it is safe to do so – saying those currently struggling to put food on the table will return to work regardless of the dangers.

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Karen Whitehead, of KEW Accountants and Tax Specialists

Karen Whitehead, of Telford-based KEW Accountants and Tax Specialists, said many self-employed people and small business owners were panicking about their financial situation, with many unable to access any of the emergency measures put into place.

She also warned of the financial and mental health toll of lockdown.

Karen said: “Whilst we all understand the need to protect our vulnerable and the NHS, the toll this is taking on peoples’ financial and mental health should not be underestimated.

“It’s also important that as measures remain in place and working from home will continue for many, team morale and human contact remain top priorities.

“We need to get the economy moving again for businesses and individuals but there have been problems for many and predictions of a recession lasting into next year are not painting the best of pictures for those who need to earn money now and in the coming months.

“Clients are calling us in a distressed state and we are trying our best to help them, but there are times when you just have to say I am sorry but there is nothing out there for you to claim. That in itself is stressful.

“Generally, people are panicking. The self-employed have been surviving with no money coming in and the self-employment grant scheme was not due to be open to applicants until May 13 at the earliest.

“It will then take six working days after they have applied to actually receive any money.

“The problem is that if people are struggling to put food on the table then they will go back to work regardless of the dangers that this might pose.

“There are also issues with directors running small businesses and taking a small wage. They are entitled to nothing and are struggling to make ends meet.

“Who knows how long it will be before they can get their businesses operating properly again with money coming in – or even if they will be able to operate at all.

“Landlords where their only income is from rents are struggling and receiving no help. Tenants cannot afford to pay the rent and so the landlord's income is significantly reduced but they still have the costs associated with owning the property.

“It’s clear there will be long-standing financial problems for many as a result of the lockdown and we must remain alert to mental wellbeing as we transition back to some sort of normality. We all need to get back to work but it must be safe to do so.”

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