COVID-19 update from Elman Wall

ABTOT Associate Jonathan Wall, Elman Wall has written the following blog to keep ABTOT Members updated.

Hope you are bearing up, under the circumstances….IT WILL END!

A quick recap/update:

  1. Please watch our video message to clients. https://youtu.be/PUBbxlm9Etw
  2. The Chancellor is due to announce further reliefs later today, including providing further support to companies on the retention of employees.
  3. You are probably already in touch with your bank about finance you may need. Next week, we are expecting the Banks to start rolling out the mechanisms for their customers to obtain emergency loans announced in the Budget.
  4. The HMRC Coronavirus Time to Pay Helpline is up and running on 0800 015 9559. You should be able to defer PAYE, VAT and Corporation Tax payments.
  5. If you need to take a 3 month mortgage holiday, contact your lender.
  6. I have attached an excellent summary of the special coronavirus Rates discounts for the year from 1 April 2020 prepared by our Rates Consultants, Frederick Holt & Company, which includes the reliefs to retail, leisure and hospitality businesses.
  7. Here is a link to the current position (as we understand it) regarding sick pay and Coronavirus. https://commonslibrary.parliament.uk/social-policy/health/coronavirus-employment-rights-and-sick-pay/
    If you have further HR related questions, EWHR can help you. Contact your normal EW lead and they will put you in touch.
  8. The travel industry is waiting for news, expected early next week, on relaxation or amendment of The Package Travel Regulations, which hopefully will stop tour operators being obligated to fully refund customers for cancelled bookings within 14 days. We suggest you withhold from paying refunds within the 14 day period, until official announcements are made .This will undoubtedly keep many travel businesses alive, but possibly leave them with some unhappy customers who don’t want to accept a credit voucher for future travel. ATOL renewals have been pushed back until the end of April .For the extension to apply, the renewal application must still be submitted by 31 March.

WE ARE ALL IN THIS TOGETHER.

The Elman Wall team are here to help you in as many ways as we can, so please contact us in the normal ways.