FSL Chain Mail (5th May 2020)

FSL’s Chain Mail is a regular blog containing links to news articles that we think are worth sharing.

In this edition, we focus on the impact of Coronavirus on business and our new working conditions.

With many meetings now conducted virtually via Microsoft Teams or Zoom, we are having to adapt the way we communicate during these sessions.  The high volume of these video calls means that many are starting to feel the strain and this article from the BBC investigates the reasons why they are so exhausting.

The virus is having an effect on many businesses and Government departments.  As we enter tax return time, we are conscious of the impact being felt by HMRC.  Articles in the FT highlight these issues, from a drop in tax receipts in March to the struggles in managing tax tribunals.  The Treasury and HMRC has also announced a number of deadline extensions to consultations such as plastic packaging tax and the HMRC Charter (listed here by Accountancy Daily).

On the topic of tax, recent announcements of many firms’ executives taking pay cuts or repaying bonuses to help with their business’s finances could end with a higher tax bill.  The FT’s tax professionals explain the possible impact of these actions.

Look out for our next edition with more FSL Chain Mail links.