Elect Covid-19 Update

Elect covid-19 1-01

Hello from Elect,

We hope you are all well and staying safe.

Well we are all safely locked down and following Government guidelines about social distancing, but that doesn’t stop us working remotely thanks to the “wizardary” of modern technology.

Capital Allowances:

Whilst we can’t get out to survey commercial property at the moment, it does give us an ideal window of opportunity to complete the necessary due diligence on our current portfolio, along with new referrals, so please keep sending through your qualifying questionnaires (or email us the details) and we’ll be ready to go out to survey the moment that the lockdown is over.

If you have clients who are still looking to exchange or complete on any transactions we remain at the end of the phone (01889 740405) to give any immediate or urgent advice to secure the allowances for your client.

R&D Tax relief/credit:

At a time when cash is king, there has never been a better opportunity to receive additional cash back from HMRC.

HMRC are expecting an increase in R&D tax relief claims and have put additional resource in place to be able to service the expected glut of new claims. Currently HMRC expect to process all new R&D claims within 4 weeks with tax refunds due to companies arriving during the following 2 weeks.

Whilst we are still working on R&D cases at the moment, the reduction in capital allowances work (surveys) enables us to dedicate additional resource at this time. Even if a client hasn’t made a R&D claim in the past, it has to be worth exploring if there is an opportunity in the current climate and we have the expertise to provide the necessary advice.

Quantity Surveying:

Life goes on, well at least from a QS perspective.

We are currently running a number of Projects and with remote access to all our internal office systems are able to continue with our full QS service. Following RICS guidance and Construction Leadership Council – Site Operating Procedures we are able to maintain project continuity whilst also adhere to Public Health England (PHE) guidance.

The building sector has once again taken a hit for the country, with any new projects needing to carefully consider the impact of COVID-19 on cost and programme. Here at Elect we are fortunate enough to continue to work as closely to normal as possible at this time, but also reflect on the impact this is having on the construction market as a whole. Our track record for accuracy in all jobs great and small gives clients real confidence in these uncertain times.

To end as we started… Please Stay safe!!