InstantCPD: COVID-19 Government Assistance Schemes

Tax Implications

Grant schemes for the self employed

Business grants and loans

Other matters

InstantCPD: HR

Implications for Your Clients

Becoming furloughed

SSP and absence

Other issues

HMRC Webinars

HMRC is delivering a programme of webinars on the measures to support employers, people and self-employed individuals through this period of disruption caused by COVID-19.

AIA: Accounting for Covid-19

View AIA's webinar on the government's Covid-19 schemes and grants, the accounting treatment and financial implications.

AIA: AML Update - Responsibilities During COVID-19

View AIA's free webinar on accountants' AML responsibilities during the COVID-19 outbreak, presented by AIA Director of Operations, David Potts. During the webinar David covers topics including criminal activity and fraud, COVID-19 challenges to operations, guidance on digital identity and more.

Sustainable Innovation Fund
The government’s Sustainable Innovation Fund will be open to companies across all parts of the UK who need urgent financial support to keep their cutting-edge projects and ideas alive.

Changes to the Coronavirus Job Retention Scheme
Find out how the Coronavirus Job Retention Scheme is changing, including flexible furlough.

Coronavirus Job Retention Scheme Important Dates
As part of changes to the Coronavirus Job Retention Scheme (CJRS), there are some important dates that may impact you in the coming weeks.

The Coronavirus Statutory Sick Pay Rebate Scheme is now live
Claim back Statutory Sick Pay paid to your employees due to coronavirus (COVID-19). 

The Future Fund Scheme is now live
The government’s £500 million Future Fund has opened for applications to enable innovative and high-growth British businesses to secure investment to help them through the Coronavirus outbreak.

Guidance on pensions for trustees, employers and their advisers as a result of COVID-19
There are a whole range of issues that pension trustees, employers and their advisers are facing as a result of COVID-19. Here's the latest guidance from the Pensions Regulator.

Small business bounce back loans
The government has announced a new fast-track finance scheme for small businesses providing loans of between £2000 and £50,000 (interest free for the first 12 months) with a 100% government-backed guarantee for lenders.

Self-Employment Income Support Scheme (SEISS)
If you're self-employed or a member of a partnership and have been adversely affected by COVID-19 find out if you can use this scheme to claim a grant. HMRC has begun to contact taxpayers who may be eligible for SEISS and encourage them to contact their agent for advice. Agents may use the eligibility checker for their clients and request a review for clients where the system gives the response that they are not eligible. HMRC has advised that agents should not use client Government Gateway credentials to apply for grants on behalf of clients and that doing so may trigger HMRC fraud checks and delay payment. 

Claim for wages through the Coronavirus Job Retention Scheme
Claim for 80% of your employee’s wages plus any employer National Insurance and pension contributions, if you have put them on furlough because of coronavirus (COVID-19).

COVID-19 Toolkit for Accountants
Simple and practical guidance on how best to advise your clients covering areas such as tax technical and practice management tips.

Accountancy Affinity Group (AAG) - Advisory Note 
COVID-19 and preventing Money Laundering in Accountancy Practices. The Association of International Accountants (AIA) has worked with other accountancy professional body supervisors to produce the following advisory notice.

Guidance on audit issues arising from the COVID-19 (Coronavirus) pandemic 
Uncertainty about the immediate outlook for many companies has increased sharply. This has consequences for companies proposing to report results in the coming months, and for their auditors.   
 
AGMs and impact of COVID-19 guidance note published 
Guidance on how to arrange and conduct AGMs in light of Covid-19 has been published by ICSA (The Chartered Governance Institute) in conjunction with the FRC and Slaughter & May. 
 
Guidance for employers and businesses on coronavirus (COVID-19) 
This guidance will assist employers, businesses and their staff in addressing coronavirus (COVID-19).. 

COVID-19 business support website
This page helps businesses find out how to access the support that has been made available to UK businesses and employees, who is eligible, when the schemes open and how to apply.

Launch of COVID-19 Corporate Financing Facility (CCFF) 
To ensure that companies have access to the funds they need, the government has launched a major new scheme with the Bank of England which will help corporates bridge Covid-19 related disruption to their cash flows. 

Coronavirus: if your company cannot file accounts with Companies House on time 
If Coronavirus (COVID-19) has affected your company and you need more time to file your accounts, you should act before your filing deadline. 

COVID-19 Guidance: Information for NI Businesses & Employers
Coronavirus (COVID-19): Information for businesses and employers in Northern Ireland.

COVID-19 Business Interruption Loans
Information on the Coronavirus Business Interruption Loan is available through the British Business Bank. Interest and fees on the loans will be paid by the government the first twelve months, making them interest free to customers. This period may be shorter for firms in the fishery, aquaculture and agriculture sectors.

Social Distancing Guidelines for Businesses
Additional guidance to assist employers, businesses and their staff in staying open safely during coronavirus (COVID-19). 

The European Commission is coordinating a common European response to the outbreak of COVID-19. The latest information and guidance is accessible below:

Public health

Mobility

Economy

Crisis management

Research and innovation

Latest news and documents

Accountancy Europe: Coronavirus resources for European Accountants
This resource includes information both from Accountancy Europe and its member bodies.

Republic of Ireland

Irish Auditing and Accounting Supervisory Authority
IAASA’s statements relating to the Covid pandemic, together with link to statements from our fellow regulatory bodies and other useful links.

Credit Guarantee Scheme
The Credit Guarantee Scheme supports loans up to €1 million for periods of up to 7 years. Applications can be made to AIB, Bank of Ireland and Ulster Bank. Eligibility criteria apply.

National Covid-19 Income Support Scheme
The Government has announced a National COVID-19 Income Support Scheme. This provides financial support to Irish workers and businesses affected by the crisis. 

Covid-19 Wage Subsidy Scheme
The COVID-19 Wage Subsidy Scheme enables employees, whose employers are affected by the pandemic, to receive significant supports directly from their employer through the payroll system. Minister Donohoe has announced an update to the Temporary Wage Subsidy Scheme to ensure greater staff retention and links between employer and employee. 

Covid-19 Pandemic Unemployment Payment
The COVID-19 Pandemic Unemployment Payment is a payment of €350 per week. It is available to all employees and the self-employed who have lost their job due to the COVID-19 pandemic.

Enterprise Ireland Covid-19 Hub
Enterprise Ireland is responding to the current global crisis by working with Irish exporters to help them avail of business response supports recently unveiled by the Government. These supports are designed to help businesses stabilise and adapt to the evolving situation, in preparation for getting back on the road to recovery.

Enterprise Ireland Sustaining Enterprise Fund
Enterprise Ireland administer a specific Sustaining Enterprise Fund for Small Enterprise. This fund will provide a short-term working capital injection of up to €50,000 to eligible smaller companies to support business continuity and strengthen their ability to return to growth. 

pwc Fiancial Reporting Implications of Covid-19
The COVID-19 outbreak and the measures taken to mitigate its impact are having a significant effect on economic activity. This in turn has implications for financial reporting. 

The latest guidance from the Hong Kong government incuding health and travel advice and access to a number of resources in available by clicking here. 

Business support factsheet
An overview of the business support measures in place as a result of the ongoing COVID-19 outbreak.

Retail subsidy scheme opens
The Retail Sector Subsidy Scheme under the Government’s Anti-epidemic Fund has opened for applications.

Help for enterprises
Further to the $30 billion Anti-epidemic Fund, Financial Secretary Paul Chan said the Government will introduce a concessionary low-interest loan to boost local enterprises in need of support.

The latest guidance from the Malaysia government incuding health and travel advice and access to a number of resources in available by clicking here. 

Statement by the Minister of Finance - Covid-19
Pursuant to the special announcement by YAB Prime Minister Tan Sri Muhyiddin Yassin on the Movement Control Order, MOF is working closely with Bank Negara Malaysia, Securities Commission and Bursa Malaysia to ensure capital and financial markets continue to operate in a transparent and orderly manner.

PM Muhyiddin chairs second meeting of Economic Action Council
Prime Minister Tan Sri Muhyiddin Yassin has chaired the second weekly meeting of the Economic Action Council (EAC) which discussed in detail the current financial position of the country.

Additional RM160 million approved to fight COVID-19
Prime Minister Tan Sri Muhyiddin Yassin has announced an additional allocation of RM160 milliion to be channeled to 26 hospitals in the country to contain the COVID-19 outbreak second wave.

SC and BURSA suspend short-selling amid COVID-19 volatility
The Securities Commission Malaysia (SC) and Bursa Malaysia Berhad (Bursa Malaysia) today announced that short-selling will be temporarily suspended until 30 April 2020.

SC grants regulatory flexibilities for market participants
The Securities Commission Malaysia (SC) has announced that it will grant flexibilities for capital market participants in meeting selected regulatory requirements, in view of Covid-19 and the implementation of the Movement Control Order (“MCO”)

The latest guidance from the Singapore government incuding health and travel advice and access to a number of resources in available by clicking here. 

Safe distancing – what measures can you take at the workplace?
How to stem the spread of COVID-19 in the work environment.

Cushioning the impact of COVID-19
Sectors affected by COVID-19 will get additional support.

COVID-19 Resources
A collection of useful posters and videos on COVID-19.

Extension of time for Singapore listed companies to hold Annual General Meeting
Singapore Exchange Regulation (SGX RegCo) has announced that it will allow SGX-listed issuers with a 31 December financial year-end, up to 30 June 2020 to hold annual general meetings (AGMs) to approve their 31 December 2019 financial results.