Copy of Supporting one another through Covid-19

We are in difficult and unprecedented times. The Covid-19 Pandemic continues to evolve at pace and while we are keeping an extremely close eye on the latest government guidance, we want to assure you that Albert Goodman is fully committed to the health and well being of our staff and clients and that we will be doing everything we can to minimise disruption to client service

Steps we are taking

  • A remote technology IT system which allows our firm to work from home where necessary
  • The ability to use video conferencing technology such as Zoom to conduct meetings
  • A business continuity team which meets regularly to discuss and action our ongoing response
  • We have asked any staff member who displays any signs of cold or flu to stay at home and self-isolate
  • Staff members with underlying health conditions have been contacted and encouraged to work from home
  • We have taken the decision to ask staff to not attend networking events, and have postponed our own
  • Our IT team have set up phone infrastructure to allow calls to be re-routed to staff who are working from home
  • We will be opening up additional methods of communication to allow our clients to stay in contact
  • We will be posting as much up to date information on SME support as we can as the situation develops

Articles

Changes to the eligibility criteria for the third SEISS grant

  Further to my recent article, the Government have announced in the last couple of days, significant changes to the criteria that needs to be met in order for those who are eligible to claim the third SEISS grant, along with some additional details. When can I claim? As you are already aware, the claims [...]

COVID-19’s Impact on Research and Development

WHAT IS RESEARCH AND DEVELOPMENT? Research and Development (“R&D”) tax relief provides innovative businesses with a valuable tax incentive where works have been carried out on a project that seeks to achieve an advancement in the overall knowledge or capability in a field of science or technology. The relief can be for capital or revenue […]

Job Support Scheme

This article looks at how the Job Support Scheme (JSS) works and who can benefit, based on the JSS Factsheets issued up to 13 October 2020. Further guidance is expected in the coming weeks which may supersede some of the contents below. BACKGROUND Whilst the scheme is the latest iteration of the support given to […]

Job Support Scheme to replace Furlough Scheme

The Job Support Scheme is designed to protect viable jobs in businesses who are facing lower demand over the winter months due to COVID-19, to help keep their employees attached to the workforce. The scheme will open on 1 November 2020 and run for 6 months. The company will continue to pay its employee for [...]

Enhanced time to pay arrangements for Jan 2021 self-assessment tax

You may already be aware that the government have announced an enhanced Time To Pay (TTP) scheme for those who have been affected by Coronavirus and are struggling to make their tax payments. This arrangement will allow any liabilities that are due on 31 January 2021 to be spread across up to 12 monthly instalments, […]

The Government has extended Covid-19 loan repayments

Those businesses that took out government loans (Bounce Back Loans or Coronavirus Business Interruptions Loans) have been given longer to pay them off. The details: Bounce Back Loans repayments have been rebranded as “Pay as you Grow” can now be extended from six years to 10. This would cut monthly repayments by almost Coronavirus Business [...]

Extension to the temporary reduced VAT rate and deferred VAT payback period

Various temporary reductions to VAT rates have been introduced to help businesses through the Covid pandemic. The temporary reduced rate applicable to supplies of catering and accommodation will be relevant to golf clubs. The reduced rate of 5% applies from 15 July 2020 and was due to end on 12 January 2021 but has been […]

Commercial property in a post-Covid world

We recently made a small addition of commercial property to the Albert Goodman client portfolios, using the Real Estate Investment Trust (REIT) structure. Like most assets, including equities, long term returns have been good, but values recently took a dip, and then made a partial recovery. With things as they are now, is it still [...]

SEISS – Further guidance issued on second grant

Further to my article a couple of weeks ago, further guidance has been released in relation to the second and final SEISS grant which will be available to claim in August.  The aim of the second grant is to further assist those self employed individuals who are still adversely affected by Coronavirus. The second SEISS […]

The Dark Side of the Furlough – Flexible Furlough Scheme

HMRC updated its guidance on the Job Retention Scheme (JRS) on 12 June, to include details of its replacement, the Flexible Furlough Scheme (FFS), which comes into force from 1 July. There’s no doubt that the JRS has been a lifeline, not only for many businesses, but for employees as well.  Going back to March, […]

Steps you can take

  • Communicate regularly with your employees to ensure that the latest government and Department for Public Health advice is taken on board
  • Test your IT infrastructure and put in place video conferencing technology such as Zoom or Skype to allow ongoing communication
  • Speak with your bank and or finance provider to get the support and flexibility you need in what is likely to be a challenging time
  • Contact your suppliers to understand their contingency plans for working around the virus

Relevant Services

AG Payroll

Financial Planning

Business recovery and insolvency

Covid-19 Business Support Team