INTRODUCTION FROM KIRSTY MCGREGOR, THE CORPORATE FINANCE NETWORK
The advice is relevant and correct up to 6 April 2020
The Corporate Finance Network consists of regional accountancy firms, some of the leading SME business advisers in the UK and I am very proud that they have come together in a very quick way, to collate this incredibly useful guide for you. In times like these, collaboration and communities working together will help us all to get past this unprecedented time in our lives and our economy.
The only thing I would personally add to the information enclosed, is that I would encourage you to start brainstorming to find ways to diversify, innovate and support your customers and communities, as much as you can. Keep yourselves well, physically and mentally and I think it will be critical for everyone to find a peer group to share challenges and ideas with, so consider setting one up in your local area or within your sector. I think you will find it will pay dividends in due course, as we have no idea at this stage how long this period will last.
I hope you find this guide useful and reassuring and I would like to thank those who have taken time out to contribute to it.
Kirsty McGregor, Founder and Chairman of The Corporate Finance Network
The last few weeks have seen an unprecedented set of events and circumstances around the World. Maybe not since the Cuban Missile Crisis in in 1962 or the Spanish Flu outbreak of 1918 have the lives of everybody been turned upside down so quickly and worryingly.
The level of concern in the UK has been increasing since the start of February leading to a budget focused on providing support to our economy. Only a matter of days later, Chancellor Rishi Sunak, was standing next to the Prime Minister and Chief Medical Officer outlining another series of initiatives designed to help business with the promise that “we will do whatever it takes”.
There is genuine concern and worry amongst the business community, but we want you to know that our team are ready to help you, your and the wider business community get through this crisis.
Whilst the primary concern of any organisation is the well-being and safety of their employees a plan needs to be put in place now to ensure there is a sustainable platform to operate from as the crisis is navigated and then left behind. We have put together a Coronavirus Advice Guide, which we hope you find useful. It focuses particularly around finance and employee issues as these are the most common queries we have received.
- Coronavirus Job Retention Scheme
- Help for Self Employed
- Help for Directors of Limited Companies
- Cash Flow
- Working Capital
- Time To Pay (TTP) Arrangements
- Business Rate Relief for Certain Retail, Hospitality & Leisure Businesses
- Grant Scheme for Small Businesses
- Business Interruption Loan Scheme
- How to Approach Banks
- Capital Expenditure Deferral
- Loan Holidays / Deferring Lease Payments
- Approaching Landlords for Deferred Payments
- Commercial Rent Deferrals
- Missing Company Deadlines
- Statutory Sick Pay (SSP)
- Using Holiday & Flexible Working
- Taking Time Off to Care for Somebody
- Charity Sector
- Marketing – the Outside World
- Internal Communication
All businesses will be trying to deliver as normal as possible service despite these unprecedented circumstances. The advice contained in this alert is relevant and correct up to 23 March 2020.
Our response to COVID-19
Our offices are now closed due to the recent Government recommendations concerning Coronavirus.
Our team are continuing to work from home and we have a robust business continuity plan in place which will enable us to minimise the impact on our service to you. Our team have access to the tools and technology they need to work remotely, and you can still contact us via:-
York office telephone number – 01904 655202
The individual team members email address
or by emailing Enquiries@hghyork.co.uk
Please be patient at this time while our telephone line connects remotely.
We will post updates here
and our social media pages.
We are happy to collect client’s books and papers or arrange a time for you to drop them off at one of our offices.
Thank you to all our clients for their support during this time.
If your business is impacted
There is no doubt that many of you are concerned about how this pandemic will affect your business day-to-day, and its impact on any upcoming strategic decisions. Please remember that we are here to support you with any immediate planning or personnel questions you might have, however small. We will be happy to talk through your concerns and work with you to find the right solution for your business, so please do give us a call if you have any questions/require any support.
HMRC have also set up a help line specifically for the self employed and businesses, providing advice on tax and any benefits you may be able to claim:
The Coronavirus helpline : 0800 024 1222.
If you have any concerns relating to Companies House filing deadlines, or any other deadlines, please do not hesitate to contact us.