New Year News & Reminders from team de garis

Happy New Year from team de garis!
We are keen to get 2022 off to a great start for all of us.  So first up a reminder of some important deadlines.  2020 tax submissions (personal and corporate), if not already submitted, must be in by end of February. 

February is also the deadline  to renew / register with the Office of Data Protection Authority (ODPA) and to submit Annual Validations  – see below for more info, but don’t be caught out by the return to the old schedule for AVs!

With regard to our news, 2022 will see a change in some faces at team de garis.  Kirsty is on maternity leave having given birth to a baby boy, both doing well and Zoe will be leaving us in early April for pastures new.

If Zoe is your account manager this will continue for now.  Going forward we will be reviewing client account allocations amongst the team (and any new recruits), but of course if you need anything you can contact any one of us!

As well as growing our team with some planned recruitment, we have exciting plans for 2022 and hope you do too.  Planning is important for all businesses, and below is a little blog from us on this topic that may give you some inspiration.

Here’s to a great year!

Make 2022 the best year for your Business

The start of a new year is traditionally a time for us to review the year that was and set some good intentions for the year ahead. We’ve all been there. We’ve all vowed to lose weight, give up the booze and exercise more.  But, new year’s resolutions don’t need to be restricted to your personal life. The new year is a great opportunity to look at our businesses and see what we can improve on from the previous year.

So here are a few of our top tips for making 2022 your best year yet.  These are all on our list!

Prioritise looking at your numbers regularly
If you don’t understand your numbers, how do you know how your business is tracking? Now, not every business owner has a background in finance and that’s okay. But a basic understanding of the important bits will go a long way to helping you build a successful business.  If you would like to set up a business catch up meeting to provide guidance on this, or to consider engaging us for regular management reporting, get in touch.   We also offer our regular Xero training workshops that help you know your numbers.

Set a Budget
Include some realistic goals in your budget and measure against it regularly.  We are firm believers in “if you write it down you are more likely to achieve it”.

Look towards more Collaborations
Make no mistake, I absolutely love collaborations and I don’t mean the type where you share your database contacts with someone else. By collaborations, I mean you work with other businesses (often with the same target market) and utilise each other’s skills or services to provide value to each others clients. 

Some examples might include:

Hairdressers, beauticians, photographers, fashion houses, florists 
Cafes, caterers, event planners
Estate agents, conveyancers, cleaners.
Can you refer work to each other? Work on a project together? Deliver a workshop together? Sell each other’s products? Think outside the box. The options really are endless. 

Just remember, if you head in the collaboration route, make sure it is a win for all parties. 

Collaboration over competition wins every time.  

Review your business boundaries
Do you take work home, answer calls or emails outside of normal trading hours or agree to unrealistic time frames from your clients or customers? If the answer is yes, then making this change needs to be your number one priority. Remember why you went into business in the first place. I bet it was for more flexibility to work the hours you want and to do the things that you wanted to do. Remember, you do not work for your business. Your business works for you. 

Plan
Make a plan for 2022 – set some non financial goals as well as the financial ones in your budget.  Taking a bit of time to consider your plan for the year ahead is vital for all businesses.  Involving your team is a win win on this too, making you and them accountable, and making you a team.  Don’t forget to acknowledge and celebrate your achievements too.

⏰ ANNUAL VALIDATION
All Guernsey companies must file an annual validation submission between 1 January and 28 February 2022 (except companies incorporated during December 2021).  The annual validation of the company will contain the details of the company as at 31 December 2021.
All annual validations must be filed using the Online Services Portal at www.greg.gg.  Here is a useful guide on how to file your annual validation: Annual validation guidance

For those new to the process – please be aware that you will need to specify whether or not you hold a personal fiduciary licence, many clients have been unsure about this, for avoidance of doubt you will know if you hold this type of licence.

All companies that have not filed an annual validation submission by 28 February 2022 will be liable to a civil penalty.

⏰ DATA PROTECTION REGISTRATION
If you use personal data in your work you are legally obliged to register during January and February each year.  See odpa.gg for guidance and to register.