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Covid-19 Guidance and Support Hub
This page provides an easy reference tool for AIA members and students looking for the latest guidance and resources relating to the coronavirus pandemic.
With Covid-19 presenting challenges for financial professionals and businesses across the globe, accountants are in demand for specialist skills and knowledge. This guidance and support has been combined to assist AIA members and students deal with the impact of and recovery from the pandemic.
AIA would encourage all members to refer and adhere to policies designed to reduce the transmission of the virus in their own jurisdiction, following the advice of credible news sources such as the NHS (UK)andthe World Health Organisation (WHO).
Health and Safety
Business guidance and support
Advice for Members
Advice for Students
How Covid-19 is affecting AIA operations
Guidance and Support for Accountants and Businesses
AIA: Accounting for Covid-19
View AIA's webinar on the government's Covid-19 schemes and grants, the accounting treatment and financial implications.
AIA: AML Update - Responsibilities During COVID-19
View AIA's free webinar on accountants' AML responsibilities during the COVID-19 outbreak, presented by AIA Director of Operations, David Potts. During the webinar David covers topics including criminal activity and fraud, COVID-19 challenges to operations, guidance on digital identity and more.
The Chancellor has announced new grants for businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000.
Furlough and Loan Schemes Extended The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages and the government-guaranteed Covid-19 business loan scheme has been extended until the end of March.
Furlough Scheme Extended The Coronavirus Job Retention Scheme has been extended for a month with employees receiving 80% of their current salary for hours not worked and further economic support announced.
Sustainable Innovation Fund The government’s Sustainable Innovation Fund will be open to companies across all parts of the UK who need urgent financial support to keep their cutting-edge projects and ideas alive.
The Future Fund Scheme is now live The government’s £500 million Future Fund has opened for applications to enable innovative and high-growth British businesses to secure investment to help them through the Coronavirus outbreak.
Small business bounce back loans The government has announced a new fast-track finance scheme for small businesses providing loans of between £2000 and £50,000 (interest free for the first 12 months) with a 100% government-backed guarantee for lenders.
Self-Employment Income Support Scheme (SEISS) If you're self-employed or a member of a partnership and have been adversely affected by COVID-19 find out if you can use this scheme to claim a grant. HMRC has begun to contact taxpayers who may be eligible for SEISS and encourage them to contact their agent for advice. Agents may use the eligibility checker for their clients and request a review for clients where the system gives the response that they are not eligible. HMRC has advised that agents should not use client Government Gateway credentials to apply for grants on behalf of clients and that doing so may trigger HMRC fraud checks and delay payment.
COVID-19 Toolkit for Accountants Simple and practical guidance on how best to advise your clients covering areas such as tax technical and practice management tips.
Accountancy Affinity Group (AAG) - Advisory Note COVID-19 and preventing Money Laundering in Accountancy Practices. The Association of International Accountants (AIA) has worked with other accountancy professional body supervisors to produce the following advisory notice.
COVID-19 business support website This page helps businesses find out how to access the support that has been made available to UK businesses and employees, who is eligible, when the schemes open and how to apply.
Launch of COVID-19 Corporate Financing Facility (CCFF) To ensure that companies have access to the funds they need, the government has launched a major new scheme with the Bank of England which will help corporates bridge Covid-19 related disruption to their cash flows.
COVID-19 Business Interruption Loans Information on the Coronavirus Business Interruption Loan is available through the British Business Bank. Interest and fees on the loans will be paid by the government the first twelve months, making them interest free to customers. This period may be shorter for firms in the fishery, aquaculture and agriculture sectors.
Credit Guarantee Scheme The Credit Guarantee Scheme supports loans up to €1 million for periods of up to 7 years. Applications can be made to AIB, Bank of Ireland and Ulster Bank. Eligibility criteria apply.
National Covid-19 Income Support Scheme The Government has announced a National COVID-19 Income Support Scheme. This provides financial support to Irish workers and businesses affected by the crisis.
Covid-19 Wage Subsidy Scheme The COVID-19 Wage Subsidy Scheme enables employees, whose employers are affected by the pandemic, to receive significant supports directly from their employer through the payroll system. Minister Donohoe has announced an update to the Temporary Wage Subsidy Scheme to ensure greater staff retention and links between employer and employee.
Covid-19 Pandemic Unemployment Payment The COVID-19 Pandemic Unemployment Payment is a payment of €350 per week. It is available to all employees and the self-employed who have lost their job due to the COVID-19 pandemic.
Enterprise Ireland Covid-19 Hub Enterprise Ireland is responding to the current global crisis by working with Irish exporters to help them avail of business response supports recently unveiled by the Government. These supports are designed to help businesses stabilise and adapt to the evolving situation, in preparation for getting back on the road to recovery.
Enterprise Ireland Sustaining Enterprise Fund Enterprise Ireland administer a specific Sustaining Enterprise Fund for Small Enterprise. This fund will provide a short-term working capital injection of up to €50,000 to eligible smaller companies to support business continuity and strengthen their ability to return to growth.
Help for enterprises Further to the $30 billion Anti-epidemic Fund, Financial Secretary Paul Chan said the Government will introduce a concessionary low-interest loan to boost local enterprises in need of support.
The latest guidance from the Malaysia government including health and travel advice and access to a number of resources in available by clicking here.
AIA exams scheduled to take place in May 2020 have been cancelled across all centres. The next exam session will take place in November 2020; any candidate registered for May’s session will automatically be transferred. If you have been affected by the temporary closure of Study Centres, please consider using the AIA distance learning programme, AIA Achieve.
AIA will be updating the provision of its online CPDregularly alongside providing a range of learning options through our approvedCPD partners.