Timmings Partners Limited

21/04/2021

We are looking for a Chartered Accountant and/or an Accounting Technician to join our close knit team. We have constructive relationships with our clients who are enjoyable to work with. Our office environment and culture are both flexible and recognise that we all have many things going on in our lives in addition to work. We tend to have high levels of client contact across the year and do more than just annual accounts and tax returns (although we do meet all our filing targets without blowing a fuse). The role/s are quite varied and no day is quite the same as another. Our office dog's name is Bella, a very friendly black lab and we have nice character office space with working open fires, a garden view and easy free parking on the doorstep in Maori Hill.

You will be valued and recognised within our team and will have the chance to progress and be supported as you do this. It will be fun and shouldn't feel like work.

If you have good skills and experience we'd love to meet you. Experience in a public practice environment would be excellent.

A text in advance of a phone call would be a great way of giving me the heads up that you will be in touch :-).

www.timmingspartners.co.nz

01/05/2020

Two things announced in this Beehive release:

1. Up to $100k low interest loans for businesses with 50 employees or less.
2. Changes to mean no GSA is required on govt guaranteed business loans.

My initial thoughts?

The low interest loan seems great BUT it’s $10k base plus $1,800 per full time equivalent employee so if you’ve got less than say 10 staff it isn’t going to put that much into the business (five staff would mean a loan of $19,000). If you have 50 employees meaning you can get the full $100k then the scale of your business will be such that the $100k probably won’t help that much either. Not complaining though as everything helps.

Second point is on the govt guaranteed loan security change. Our experience with clients is that these loans are not that viable as you still have to jump through 100% of the banks’ hoops and in reality it’s really a benefit to the bank not the business. I’m not sure how much removing the GSA requirement (which provides general security over all assets of a company) will help given a bank often has security over non company assets (like the director/shareholders house) plus cross guarantees with other entities with common control already and these rank above a GSA.

My head hurts from writing this on my phone but anyway happy weekend everyone. P.s get legal advice on this stuff before you jump in to a commitment 😬.

The Government will provide interest free loans for a year to small businesses impacted by the COVID-19 economic shock to support their immediate cashflow needs and meet fixed costs.

30/04/2020

Wow.
Kate Twist has just sent this through:
Be great to see the guts of how it will work and the term over which it will need to be repaid.

New law enables Crown to write COVID-19-affected SMEs loans; IRD to administer the scheme; Details to be unveiled on Friday