This article was created on 15 April and last reviewed on 21 May.

This article was last updated on 15 April at 09:45.
In the past few weeks the term ‘furlough’ has gone from being a minor American business term to being understood by most of the general public, with many firms taking steps to put workers rendered inactive by the lockdown under the Government’s Coronavirus Job Retention Scheme. Under the scheme, businesses will be able to access funds to pay up to 80% of a person’s salary up to £2,500 per month for the three months to 31 May 2020. Further details here.

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This article was last updated on 9 April at 10:40.
COVID-19 is having a significant effect on many businesses and the full impact it will have is unknown, although there has been much speculation.

Chancellor sets out extra £750 million coronavirus funding for frontline charities

In the daily briefing on 8 April, the Chancellor set out a package of support for charities to ensure they can continue their vital work during the COVID-19 outbreak. Charities across the UK will receive £750 million.

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COVID-19 has presented charities and other NFP entities, particularly those in business, with a number of, currently unanswerable, questions: How long will the lockdown last? How will the lockdown be relaxed? Will my customers still be in business? Will my customers and tenants be able to pay? Will my supply chain still be intact? What will the economic environment look like? What will ‘normal’ look like afterwards? However, despite these unknowns, the old adage ‘cash is king’ has never been more important than now.

This pandemic will end, and when it ends you will need to be solvent to take advantage of the opportunities that will arise. For those that have cash constraints, cash leakage mitigation strategies should already have started, because once the cash has gone, it’s gone. However, it is not too late to start.

In this article we look at some of the ways to minimise cash leakage from tax and our recent experiences which can help your charity remain financially fit for the recovery.

This article was last updated on 3 April at 11:02.