Cashflow continues to be a curse
21 October 2020: As 2020 rumbles on, we know from you that cashflow continues to be a key challenge for many businesses. ICAEW is here to help.
ICAEW is uniquely positioned to help members facing urgent business and management issues. This means us feeling their pain and helping members think of novel ways in which to overcome business challenges and find practical solutions.
Our immediate priority is to support members through the finance-based aspects of COVID and Brexit by responding quickly to urgent questions, particularly relating to accounting, reporting, tax, financing, legal obligations and government schemes.
The guide ‘Six actions for finance professionals on cash flow’ was first created in April 2020, and shared considerations on how to tighten management on cash inflows and outflows, and on accessing government announced schemes and wider financing. It is as relevant today as when it was first created. It sits alongside other financial management guides and resources from the Business & Management Faculty, pointing to other resources that might be helpful to readers.
The guide has just been updated to reflect the UK Government’s winter announcement on a range of new measures in advance of the end of the Coronavirus Job Retention Scheme, as well as on the specifics of VAT and self-assessment deferrals. It also references new ICAEW resources on scenario planning and cashflow management.
Please make use of this resource and use the contact details within the guide to tell us more about your COVID and Brexit concerns so we can raise these with Government and standard setters as well as creating further ICAEW help.