What can I do to help my business keep moving?
Business Restructuring: We work with businesses to deliver financial and operational improvements, supporting management teams to generate liquidly and protect value. Read more here.
Cycle to work scheme: As we are being asked to avoid public transport, this will change the work commute for many, and as businesses try to scale up operations again, it may be helpful to take another look at the cycle to work scheme. Through the scheme employers can provide employees with bicycles and bicycle safety equipment as a tax-free benefit. Read more here.
Are virtual board meetings still valid?: COVID-19 has forced boards to adapt to meeting virtually. Are these meetings valid? The good news is – yes! Not just for now, but for the future as well. Take a look at our top tips for conducting a virtual board meeting with a minute template adapted to the virtual needs. Read more here.
Tax deferrals: We thought it would be useful to summarise the different tax deferrals that are available and what the implications are. These are across self assessment, VAT, PAYE and corporation tax. Read more here.
Cloud accounting: working from home whilst running your business: Despite these difficult times, this could be an excellent opportunity to make the leap from desktop software to a cloud solution. Making the transition may seem daunting, but cloud solutions are increasingly necessary, now more than ever. Read more here.
Management information: using a forecast model for scenario planning: If you already have a good forecast model in place or, failing that, the last budget you prepared, now is the time to update it to reflect what you are experiencing currently. This will allow you to assess the impact on your business and plan accordingly. Read more here.
Have you considered R&D tax incentives for short-term cash?: As COVID-19 continues to impact on the day-to-day operations of businesses, considering all potential sources of finance and short-term cash is key. Read more here.
How do I complete my statutory audit?: If you have booked an audit or site visit over the coming weeks, senior members of our team will be in touch to discuss with you whether the plans in place are still appropriate and practical. Alterations or rescheduling will be agreed where possible. Read more here
Claiming on insurance: There has been some confusion around whether businesses – particularly in the retail, hospitality, and leisure industries – will be able to claim on their insurance if closing due to the impact of COVID-19. Read more here.
Considering insolvency during the COVID-19 crisis - take a deep breath: In these uncertain times, if you find your business in financial crisis, you may consider insolvency. However, the advice from Hazlewoods Business Recovery and Insolvency team is to be bold and take a breath. Read more here.
Unlawful dividend payments: The support announced by the Government to date for the COVID-19 outbreak, is limited for directors of owner-managed businesses who receive their remuneration predominantly by dividends and a small salary. Therefore, director/shareholders may want to continue to pay dividends where possible during this time. Read more here.
Continuing international trade during COVID-19: As COVID-19 escalates around the globe it is important to remember that there are organisations ready and able to support with business continuity, including for those businesses trading internationally. Read more here.
Trade credit insurance: certainty in an uncertain world: Looking ahead, there will be a time that business trading resumes at a more normal rate. Protection of your assets has always been important in business; cash assets which are owed to the business are frequently overlooked. This is where trade credit insurance could help. Read more here.
Cloud accounting update: Revolutionising bill payments in Xero: Software providers are continuously making changes to provide users with a greater experience. From Wednesday 27 May a new bill payments experience will be available to users of Xero. Read more here.