The UK Government recently announced an extension to the Coronavirus Job Retention Scheme (more commonly known as 'Furlough'). As part of the extension the UK Government announced an additional £2 billion to devolved governments. The Scottish Government has put £48 million towards supporting businesses whilst they try to navigate through this new way of life and have offered support for businesses to contribute towards the 20% of salary costs for furloughed workers while grant funding has been provided to businesses that were required to close.
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As part of HM Money Month, Harper Macleod Partner Jo Nisbet asked Andrew Holloway of Johnston Carmichael's Entrepreneurial Taxes team to answer some commonly asked tax-related questions.
Given the current climate, it is important to give thought to your terms and conditions. It may be easy to forget about these in light of everything that is going on right now but the terms and conditions you have in place were put there to give your business as much protection as possible. This point is even more prominent now.
Motivating and incentivising your staff has arguably never been as difficult as it has been in 2020. Businesses have to come up with new and inventive ways to ensure that staff remain motivated towards work, and not all businesses are looking at strong forecasts for 2021 and are worrying about the conversations they'll need to have with employees next year about pay increases. So what other options are there?
Since the UK's lockdown began on 23 March, Harper Macleod's corporate team has completed 78 deals remotely with 30 of those deals being investments. Whilst life may have changed for many, business is normal here at Harper Macleod and we aren’t seeing any reduced activity in the investment market.