General resources: contracts, pensions, well being

Financial Accountant

www.financialaccountant.co.uk

Online news and features from Financial Accountant magazine and around the web. 

Accountancy Europe

COVID-19: 5 key steps for accountants to guide SMEs through the crisis

Actions for SME accountants to support their struggling SME clients. Many of these will also be relevant to small accountancy practices and practitioners themselves.

Coronavirus crisis: implications on reporting and auditing

Explores coronavirus’ effects on:

  • accounting and reporting for companies as of 31 December 2019
  • accounting and reporting for companies with year-ends in 2020
  • auditing financial statements on 31 December 2019 and beyond
  • practical matters for the audit of financial statements

Accountants helping SMEs during coronavirus

Podcast featuring Accountancy Europe’s President Florin Toma who discusses how SMEs can protect themselves in the face of the global pandemic and the relationship between accountants and SMEs.

Baxter & Co

Newsletter bringing together resources available to small business

Navigating the crisis (PDF 1.4MB/10 pages)

British Business Bank

The Coronavirus Business Interruption Loan Schemes and Fund is managed/arranged by the British Business Bank. They are designed to support UK businesses that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak.

You can find the scheme most suited to you and a list of accredited lenders at:

Coronavirus Business Interruption Loan Schemes and Fund

CIPP

‘Payments providers’ listed as key workers

 

Cicero/AMO

An overview detailing the latest COVID-19 national exit strategies as countries begin to re-open their economies and lift restrictions, and information on the curbs that remain in place. This overview covers all EU countries and selected major international economies (Australia, Brazil, Canada, China, Hong Kong, India, Japan, Switzerland, Singapore, Taiwan, UK & US).

 

Deloitte

Dentons

Covid-19 (Coronavirus) 

Useful information for the UK and overseas including:

  • Covid-19 government announcement tracker (60+ countries)
  • Global tax tracker
  • Labour and employment hub
  • Force Majeure hub
  • Competition and anti-trust

ICO

Data protection and coronavirus information hub

ICSA

AGMs and impact of COVID-19

The IFA recommends ICSA's  initial guidance about AGMs and the Stay at Home Measures which has been reviewed by BEIS.

IFAC

IFAC small business continuity checklist

A diagnostic tool to help small businesses navigate times of disruption, covering two key areas of financial management tasks and strategic management tasks. While not intended to be an exhaustive checklist of requirements it will help identify priority actions for immediate attention.

McKinsey & Company

Your money

Does being on furlough affect benefits?

Personal finance website helpful advice on being furloughed and benefits. 

Contracts

Lexology

International legal updates, analysis and insights. 

Economic data

OECD

Coronavirus: The world economy at risk
This Interim Economic Outlook report examines the economic impact of both a base-case contained outbreak scenario and a domino scenario illustrating the potential effects of a broader contagion. 

IR35

IR35 changes 2020: why new HMRC tax rules confirmed in the Budget are feared by self-employed workers

The Government announced that the reform to the off-payroll working rules that would have applied for people contracting their services to large or medium-sized organisations outside the public sector will be delayed for one year from 6 April 2020 until 6 April 2021.

This is part of additional support for businesses and individuals to deal with the economic impacts of Covid-19. This means that the different rules that exist for inside and outside the public sector will continue to apply until 6 April 2021.

This announcement is a deferral of the introduction of the reforms, not a cancellation. The Government remains committed to introducing this policy to ensure that people working like employees, but through their own limited company, pay broadly the same tax as individuals who are employed directly.

Pensions

The Pensions Regulator

Automatic enrolment and DC pension contributions: COVID-19 guidance for employers

This new guidance recognises that:

  • from 1 July 2020, staff on furlough under the Coronavirus Job Retention Scheme may work part of the time for their employer
  • for claims starting on or after 1 August 2020, employers will no longer be able to claim a grant for up to the statutory minimum automatic enrolment (AE) employer contribution.

 COVID-19: an update for trustees, employers and administrators

Trustees of both defined benefit (DB) and defined contribution (DC) schemes, employers and administrators should focus their activities on the key risks to pension savers:

  • benefits need to be paid
  • the risk of scams needs to be minimised
  • employers need to continue contributing
  • savers need support to make good decisions in these challenging circumstances
  • some administrative breaches of the law may occur and TPR will maintain a proportionate and fair approach to any action it may take.

Travel restrictions

IATA

Coronavirus outbreak: Latest updates on travel restrictions

Frequently updated, comprehensive page listing travel restrictions by country or territory for passengers and airline crew. There may be restrictions on entry, changes to visa exemptions, and requirements for testing or quarantine.

Well being, help and advice

Citizens Advice

A network of independent charities throughout the UK that give free, confidential information and advice to help people with issues like benefits, employment, debt, housing, relationships and lots more.

Contact your local office for online and telephone advice. The best time to speak to the Citizens Advice is as soon as possible, so that you can take a proactive look at how to deal with things like debt, before it starts to get worse.

NHS well being

Advice, tips and tools to help you make the best choices about your health and wellbeing.

www.nhs.uk/live-well

Mind

Reliable information and tips to help you cope with worrying about what COVID-19 means for yourself and your loved ones. Those already living with mental health problems are facing extra challenges too

Public Health England

Guidance for the public on practical steps people can take to look after their mental wellbeing and specific guidance for parents and carers on supporting children and young people’s mental health and wellbeing during the COVID-19 outbreak.

Guidance for the public on the mental health and wellbeing aspects of coronavirus (COVID-19)