Covid-19 : Business Support 19.03.20 – Update 1
In these extremely challenging times, with so much uncertainty surrounding the Covid-19 outbreak the need to respond rapidly to the evolving economic landscape is important.
ASM is focused on assisting our clients through these difficult times and we will therefore be providing information on proactive steps that can be taken to help businesses through the unknown. As you are all aware this is a very fluid situation, which is changing on a daily basis, therefore we will aim to keep you informed of any new developments specifically aimed at supporting your business.
Cash flow management
The first attachment, sets out some of the steps businesses should be taking in terms of cash flow management. These include:
- Contacting your bank;
- Contacting HMRC to defer payment of tax liabilities;
- Availing of financial support from Government, if eligible;
- Availing of additional financial support for working capital;
- Considering insurance implications; and
- Reviewing cashflow.
Note that we will circulate details on how to apply for the NI grant support and the new Business Interruption Loan Scheme once released.
Links to advice from the UK government is at https://www.gov.uk/government/news/coronavirus-covid-19-guidance-for-employees-employers-and-businesses
Working from Home
Given the increasing need to facilitate home-working over the next few weeks and months, our second attachment provides some information on key hardware and software that can be used to facilitate employees working from home. Whilst we recognise that some of these applications may be already used by some of our larger clients as normal practice, they may benefit some of our smaller clients.