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Coronavirus (Covid-19)

To All Clients

In these unprecedented times, the government is issuing daily bulletins on the virus and precautions to take. It has now started issuing advice and support for businesses. The most significant releases for your businesses are as follows;

On Friday, a whole raft of measures were either confirmed or announced for the first time, including covering 80% of employees’ wages, although none of the mechanics of how this will work and what will be excluded, has been released.

For those businesses or individuals that need help with the payment of existing tax liabilities,

A general guide to businesses, produced by a tax advice body, is also available here. This has more details on the business interruption loan which was updated as at lunchtime today.

Please also be aware that the scammers have moved onto Coronavirus scams, trying to get access to your finances or personal details. The tax office will not be sending you an e-mail with a link to get an immediate tax refund, the FCA will not be contacting you informing you that your bank is about to collapse and you must immediately transfer your funds etc. Please treat all e-mails with the usual scepticism.

We will continue to issue updates on the virus throughout this crisis, but if you have any specific queries just let us know. However, please be aware that unlike usual business announcements, the government is not briefing or consulting with accountants in advance and the first we get to hear of these measures, is on the news. It can then take a few days for us to receive the specialist briefings from the Tax Office, ACCA or our accounting resource databases.

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