'Our vision is to become your partner and understand your business, your finances, your business problems and your aspirations'.
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We are conscious that many businesses and individuals could be affected by the situation, and we want to ensure every client knows that they should contact us if they have concerns over their business, or want to obtain further information on the provisions being rolled out. There are also various ways we can help our clients in these unprecedented times, including assisting with assessing your cost base, looking at breakeven analysis, and assisting with the preparation of forecasts to understand the position your business is in and support the consideration of an action plan. We also have extensive experience in dealing with banks if you are looking at the loan scheme, and also dealing with HMRC on time to pay arrangements should you have existing arrears of tax. 

Please do contact us and don’t feel like you are alone in getting through this very difficult period. 

The main points to highlight:

• Job retention scheme paying 80% of wages - we are seeking further information and will update you when there is more detail.
• VAT and income tax deferral – something for businesses to think about as it gives free funding for a period of time. There isn’t any assessment for this. This will still need to be repaid, this only defers the payment. if you pay by direct debit and want to defer your VAT, you would be safest cancelling your Direct Debit for now
• Support with sick pay – we will pass on further information when details have been released.
• Business rates holiday for retail, hospitality and nurseries – administered by LA’s, who won’t take payments from eligible businesses. Check that the payment holiday has been given. If not, contact the LA.
• Grants for retail, hospitality and nurseries - businesses in these areas should receive a letter if eligible from the LA, contact the LA if nothing has been received.
• Grants for businesses getting SBRR - administered by the LA, should receive a letter if eligible, contact the LA if nothing has been received.
• Business Interruption Loans –little detail available at the moment in terms of the process. likely to be a normal bank credit process, although possibly shortcut a little, we can help with the process, particularly re assessing potential funding requirements, preparation of forecasts etc.
• Time to pay arrangements re existing tax liabilities – this appears to be the normal process with this. We have lots of experience with this, and so can support the information preparation and negotiation with HMRC. 

For more information, please see here: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

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Clarke Nicklin House, Brooks Drive, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3TD. Registered Number OC309225.
The firm is registered to carry on audit work in the UK & Ireland. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C001178544. The professional rules applicable are the Audit Regulations and Guidance which can be found at www.icaew.com/regulations, and the International Standards on Auditing (UK and Ireland) which can be found at www.frc.org.uk/apb/publications/isa.cfm.