Coronavirus hub

Many organisations are seeing the impact of the Coronavirus, whether a reducing onsite workforce, pressures on technology or reliability of supply chains for continuing business operations. Employee safety and business continuity planning are key to ensuring a sustainable future during these challenging times. These insights provide areas of key considerations we think you’ll find useful.

We will post regular briefings here in response to the changing situation and for the most up-to-date advice, please don’t hesitate to contact us. Meanwhile further information can found at the World Health Organisation, UK government and Mayor of London.

FAQs

What additional relief is available for small businesses?

The chancellor has announced a number of relief measures to help small business through this difficult time. Just two of these are the small business rate relief (SBRR) and small business grant fund. Read more here.

Job retention scheme – what are the implications for Tier 2 sponsors of work permits?

After much anticipation, the Home Office released guidance on 27 March covering the “furloughing” of employees working in the UK on a Tier 2 visas. In particular, the (very brief) guidance set out the circumstances where the sponsored individual’s salary can be reduced without causing the sponsoring employer to be in breach of their immigration compliance obligations. Read more here.

What happens with ticket refunds for cancelled shows?

Ticket refunds for cancelled shows that are converted into donations with agreement from the customers are now eligible for Gift Aid for charitable organisations. The proviso is that customers complete a Gift Aid declaration, so there is no need for the charities to refund the money and ask for it back again. Read more here.

Where can I find out about furloughing employees and EMI options?

Many businesses are making use of government’s Coronavirus job retention scheme. If you furlough employees under the scheme, they are prohibited from working while they are furloughed. This may pose a risk if the employee concerned holds an EMI option. Read more here.

What can I do to manage cash flow?

At Moore Kingston Smith our team includes directors who have hands on experience working in companies going through cash flow difficulties as well as others who have worked on turnaround projects. Read here .

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