Business Update – June 2020

27 Jun 2020

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Welcome to the June edition of Business Update. As you might imagine, our articles all relate in some way to the impact of Coronavirus.

Our first article considers EMI shares and the implications that furloughing employees might have on these. We outline the considerations for those businesses that have furloughed employees with EMI options – or where they planned to grant new options in the future. Read more.

Our second article also looks at EMI schemes, but in a slightly different context: what effect will falling company valuations have on EMI options? We also consider some useful alternatives. Read more.

We also look at rent concessions as a result of the Coronavirus pandemic. From a practical point of view, how will concessions impact accounts, where leases often now fall onto the balance sheet? Read more.

Although circumstances are exceptional, businesses must continue to keep detailed financial records. This is particularly important when it comes to losses, as these may be crucial to obtaining tax relief in future years. Likewise, such records may also demonstrate that your business is continuing to trade, even if you have been forced to close your doors. Read more.

We have collated all of the latest information on Coronavirus support measures for businesses on our website’s main Coronavirus hub page. You can access this here.

I wish you all well in these challenging times. Please do contact us if you would like advice on any of these issues.

Jamie Lane, Editor