Hiatus

Hiatus is defined as a break or interruption in the continuity of work, action etc.

The present Brexit uncertainty and the extended political stalemate is a perfect example.

The problem for the accountancy profession is that its work and actions are having to continue in the face of these external uncertainties. The 2018-19, self-assessment filing deadline is still 31 January 2020, the tax year will still end 5 April 2020 and clients still need support with ongoing payroll, VAT and other business concerns.

2020 is shaping up as the year when anything could happen: a left or right leaning government, severance or remain in the EU, and when will the next budget be delivered? Let’s hope it is not in January!

It is tempting, in the face of these uncertainties, to sit back and wait and see what happens. Surely, this is a temptation that should be ignored. In fact, perhaps the opposite is the order of the day. Perhaps we should be planning for a continuing break in “normal” circumstances, in an unresolved Brexit, more hung parliaments with all that these issues imply.

In the early days of TV, when the analogue signals would break down on a regular basis, it was not uncommon to see “Normal service will be resumed as soon as possible” on your screen. Perhaps government should reflect on this and post something similar on the gov.uk website.

But, life does go on and we will continue to provide the profession with the best possible support for their clients. Even with no action on the part of government we surely still have choices.

Perhaps the mantra for 2020 will be that business and personal financial fitness is a goal worth pursuing. Otherwise we will emerge from this current stalemate half-asleep, watching our match-fit competitors disappear down the track.