The COVID-19 crisis will impact the third sector in a variety of ways. Income will become uncertain, costs will potentially rise and demand for services will increase – the perfect storm. This will put pressure on Trustees and management who will need to make “the right decisions, at the right time”.
Here we have pulled together the various links and guidance that have been provided by Government and sector specialists – signposts for where to access the most up-to-date information. This doesn’t replace your potential need to chat through issues and access our teams as a sounding board to the unusual times and issues you are facing.
Our teams are here to help you navigate the guidance, assist in technical queries, and also just to be a independent ear to talk through issues.
A significant area of concern for the sector will be the cost of salaries during this time. The announcement of the rules surrounding “furloughing” of staff can be found on the link below. This guidance is being updated constantly as further information is published.
This is a significant issue for the sector. The specific Government guidance can be found on the link below. If you subscribe to HR advice please refer to them for advice and guidance on process, letters etc. For those that don’t the ACAS website also has useful links.
Each local authority has produced online guidance for what is available. Visit the landing page of your relevant authority for the link to the Covid-19 guidance and assistance.
Charity specific guidance on a variety of issues from NCVO and WCVA.
Advice and guidance on the impact Covid-19 will have on the fundraising for your charity.
The Charity Tax Group has also issued a guidance page on their website, which contains links to the relevant advice for areas such as Job retention schemes, VAT and expenses.
More general guidance can be found on our insights page, covering all aspects of the impact of Covid-19.
This is a situation that is evolving and changing on a daily basis. Please keep checking back to these links to access the most up-to-date advice and guidance.
Our team are here to help you navigate these uncertain times. If you have any questions or would like to discuss the impact of Coronavirus on your organisation, please do not hesitate to get in touch with your usual Wilkins Kennedy contact or your nearest Wilkins Kennedy office.
The information in this update is based on our understanding on 8 April 2020.
“There are only two certainties in life…” Whatever you want to add onto the end of that famous quote, digital would either be one of the two certainties or at least the essential third. There is no escape, not personally, not in the workplace and certainly not in the Third Sector if you or your organisation wishes to stay current and relevant in today’s digitally enhanced world. Download our new guide today...
The Corporate Insolvency and Governance Act 2020 received Royal Assent and came into force from 26 June 2020. Central to this new legislation is a new moratorium which will give a company in financial distress a 20 business day breathing space from creditor enforcement action which can be extended for up to a year with the consent of creditors. This new moratorium gives protection to businesses that may be financially struggling and may result in the rescue of the company as a going concern...
For many, the impact of the Coronavirus has been more financial than physical and being confined to home has provided little by way of distraction from the movement of the global markets. Lock down has for some been a time for contemplation and an opportunity to attend to financial housekeeping that we may otherwise have been putting off. With this in mind, now might be a useful time to ask yourself a number of questions relating to your tax affairs...
The HMRC company tax manual was amended this week with an important update which allows companies to submit claims to carry back current year losses to the previous period in a way which has previously not been widely available or indeed possible at all.
HMRC issued an email reminder on the 18 June 2020 that direct debit payments need to be set up again to enable HMRC to take the payment value shown on “post deferment period” returns...