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MyWorkpapers launch new tool to help firms assess the available business Coronavirus support for their clients

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Cloud-based practice workpapers platform, MyWorkpapers, has launched a suite of tools to help accountants identify appropriate government business support that may be available to their clients.

The new workpapers pack for the coronavirus (covid-19) crisis includes checklists of the various Government support measures available to businesses and enables users to see who individual schemes are targeted at and the criteria for accessing those schemes.

The pack has been developed in conjunction with a number of accountancy practices and groups, and will continue to be updated as new measures and guidance are announced in the coming weeks.

Current features include a salary eligibility calculator for the Coronavirus Job Retention Scheme (CJRS), which also calculates employers’ National Insurance Contributions (NICS) and checklists to verify the information needed to apply for Government grant and business loan support, including whether there is a need for management accounts to support the application.

Rich Neal, CEO at MyWorkpapers, said: “Alongside the challenges of homeworking themselves, accountants are having to get to grips with the huge number of measures announced by the Government so that they can advise their clients.

“We recognised that we needed to act fast to build these tools into the MyWorkpapers cloud solution to help practices join up their responses and to ensure that clients receive accurate and up-to-date advice.   A number of our existing clients worked with us to identify the requirements and in turn, we have been able to deliver this new set of tools which are in use now.”

Accountancy firms can implement MyWorkpapers, even while the Stay at Home requirements remain in place, through on line product demonstrations and virtual training.