Recovery & Best Practice Tips from our Partners

Cash flow, people, health and wellbeing are all key issues for business starting to think about recovery post Covid-19. Here are some cash flow tips, best practice suggestions and some support services from our Advantages partners:

1. Cash flow: remember to claim Research and Development (R&D) tax credits

• If you have not already claimed R&D tax credits but have spent money on R&D you could be entitled to a tax rebate against corporation tax already paid.
• If you already claim R&D tax relief but are currently loss making you could be in line for a cash credit from HMRC.
• You can apply for a cash advance secured against the expected R&D tax relief cash payment, providing a valuable short-term injection of funds
• For businesses that have re-purposed to support the fight against Covid-19 – Make UK’s partner, ABGI UK Ltd will assess your project to identify if you are eligible for R&D tax relief and, if eligible, will prepare your claim for free.

Tip from: ABGI UK Ltd, Make UK’s R&D Tax Credits Partner. To find out more: Sandy Findlay [email protected]

2. Cash flow: don’t forget about Capital Allowances - tax relief on money invested in capital assets

• Capital Allowances are available either as a relief against a future tax bill, OR a tax refund against tax previously paid.
• Capital allowances is not only available to limited companies. Sole traders can also benefit from capital allowances relief. 

Tip from: ABGI UK Ltd, Make UK’s R&D Tax Credits Partner. To find out more: Sandy Findlay [email protected]

3. Cost savings: the energy market is very low – take advantage of this by renewing your energy contract now

• The options available depend on your contract, but there is potential to make significant savings, even if your existing contract has a while left to run.

4. Cost savings: review your energy contract - you might be paying for energy you aren’t using at present 

• We are thinking about recovery, but operations will take time to ramp up. If you have closed sites, make sure you keep an eye on your energy invoices. Without accurate meter readings, suppliers will bill to an estimated reading – you could end up paying more than you need to.
• Some contracts have a “Volume Tolerance” – if your sites energy consumption drops too low your energy supplier could charge you.
• It is worth reviewing your current energy contract and assessing your options in case there are cost savings to be made. Energy & Carbon Management are well versed in this area – please get in touch if you would like assistance.

5. Adapting for recovery: think about your people strategy

• You may require less skills at present or different skills – such as digital expertise.
• Long term we’d like to keep skills in the sector – Make UK’s hub for this is our partner Jonathan Lee. They can find specialist skills perhaps on an interim basis, and are somewhere to direct staff who may need help with CV writing and interview prep in the near future.
• Consultations with the team at Jonathan Lee, sector specialists, with vast knowledge of the market are a good place to start – no charge.

Best practice tips from: Jonathan Lee, Make UK’s sector specialist recruitment partner. To find out more: [email protected]

6. Best Practice: new ways of working to keep your people safe

• Blended working with phased return to work, rota systems for office attendance, split shifts and continuing with virtual meetings.
• Using technology to operate virtually, be more efficient and maintain social distancing. If you don’t have the expertise in house, a short term interim or contract hire might be the solution.

Best practice tips from: Jonathan Lee, Make UK’s sector specialist recruitment partner. To find out more: [email protected]

7. Best Practice: helpline for staff

• To look after your employees’ mental health and wellbeing you could set up an EASE (Employee Assistance Programme).
• Freephone telephone counselling and information line available 24 hours a day, 365 days of the year, with confidential advice available from qualified counsellors, medical advisors and lawyers
• Can be used in conjunction with existing healthcare plans, available on a corporate paid basis and service available immediately from date of registration
• Service includes up to six sessions of face to face counselling (currently carried out as online sessions delivered over a webcam) or Cognitive Behavioural Therapy (CBT) and access to an online Health e-Hub for each employee
• Employer support helpline available too

Support from: Westfield Health, Make UK’s health cash plan partner. To find out more: [email protected]