At Hub, we like to share our knowledge with our clients.
Here, you can download guides including COVID and BREXIT briefings and updates, tax insights and top tips on helping your business to thrive.
Our library of white papers, briefings and links to useful articles. Browse by category or subject using the filters:
- Annual Report and Accounts Preparation
- Bookkeeping and Payroll Services
- Business Performance Improvement Services
- Tax and Wealth Management Services
Dealing with Covid-19
KEY ACTIONS TO TAKE AND CONTINGENCY PLANS TO MAKE
These urgent actions apply to businesses and companies regardless of size. This is the guidance we are giving to the many businesses we are advising, many of whom are now working from home and wondering where to start
The Chancellor has set out a raft of measures to assist businesses which could make a vast difference to many businesses. Some of the detail which will enable you to access these packages is to follow. There are, however, a number of actions that business can undertake to prepare for speedy applications and to prioritise what is most time-critical.
- A ‘Business Plan’ for recovery and repayment will put you on the front foot – you should be ready to talk through this plan with lenders and creditors
- Be mindful of any director, personal or family member guarantees that already exist for loans. New guarantees may be required for any government backed loan schemes
- Be careful of “wrongful trading”. Limited liability will not protect company owners / directors who engage in wrongful trading.
- Coronavirus job retention scheme for those businesses who have concerns around staff
- Remote working/Early Holidays/Short Time Working/Sick pay/SSP/Travel Policies/ Health and Safety Policies/Redundancies
- Maintain an open dialogue with Customers Suppliers Contractors and Trading Partners
- Time to Pay: Defer VAT/PAYE/NIC/CIS/MGD payments for pre-agreed periods
- Defer Rates Payments where you are able to
- Where applicable, claim new business rates reliefs
- Maintain an open dialogue with landlords – agree Rent
- Prepare updated Bank Facilities including Capital Holidays
- Coronavirus Business Interruption Loan Scheme – with effect 23 March. These are loans, not grants – a business plan which details your ability to repay this will be essential
- Defer Capital Expenditure
- Apply for a reprieve on finance repayments in respect of Hire Purchases of Leasing – three to six months or more if you can
- Improve and accelerate Income
- Credit Control is of tantamount importance
- Reduce the amount of stock you carry
- Review your insurance policies
- Review your contracts and advance orders
- Review your routes to market
- Review and where possible revise you T&Cs
- Cash flow management and cash flow forecasting
- Working capital solutions
- Communications with key stakeholders
- Business plans and the necessary forecasts to support loan applications
Take benefit from our experience and expertise:
To learn more about us, and the special ways we help our clients to build thriving businesses and retain the maximum they are entitled to from their efforts. Or to discuss a specific project or requirement you are planning.
Please contact Paul Stacey or Trevor Bristow using the contact details or enquiry form below.