Many of us would happily pretend that 2020-21 never happened, although, of course, it did.

Unfortunately, accountants cannot say goodbye to 2020-21, and for some time.

There are still months to go before 2020-21 payroll and other annual tax returns are completed and filed and this year professionals face a variety of COVID specific challenges:

• Nursing clients badly affected by COVID disruption.
• Torn between offering pro-bono support to clients who do not have the funds to pay for advice or watching them slowly go to the wall.
• Dealing with staff who may be struggling with COVID challenges and working from home.

There are a few beacons of hope. Businesses that have managed to adapt and some who thrived during 2020-21, but they may be in the minority.

The government has made positive contributions: the furlough scheme and support for the self-employed, but if they cling to the notion that this financial support needs to be repaid, then the spector of austerity may start to rear its head once again.

Perhaps the greatest lesson to have learnt this past year is just how adaptable we are, and to take some comfort from this. Resilience, after all, is a new feature we all desire. 

Unfortunately, 2020-21 may be consigned to history but its impact on our current lives will linger for time yet.

Source: New feed