Organisations of all sizes are currently facing numerous challenges due to the COVID-19 pandemic.
RSM is able to assist your business to weather the storm with the following specialist services.
LEGAL & LABOUR CONSULTING
- All HR/Labour matters arising out of COVID-19 and the resultant Regulations and Directives including:
- Operational requirements dismissals (retrenchments) and restructuring including the legal and tax implications thereof
- Advice regarding temporary lay-offs and the implementation of short time and assisting with the employee consultation process and agreements
- Advice in respect of UIF claims especially in respect of the National Disaster Benefit and the Temporary Employee Relief Scheme
- Advice regarding Occupational Health and Safety matters
- Advice in respect of the legal requirements and consequences of the Regulations and the Directives
- Advice in respect of any commercial restructuring arrangements and drafting all necessary agreements
- Advice regarding Essential Service certificates from CIPC;
- Consideration of commercial agreements and advice regarding:
- Force majeure provisions/supervening impossibility of performance
- Non-performance, partial performance or disruptions
- Variation and/or waiver of obligation and the preparation of any necessary agreements
- Renegotiating and amending existing agreements, particularly contractual time limits required for fulfilment of obligations
- Advice regarding access to available funding measures, including government and private sector sponsored funding initiatives.
Tax compliance is essential in order to benefit for most of the COVID-19 tax incentives. Our tax service offering around COVID-19 includes:
- We can assist taxpayers in determining whether they are compliant, and if needs be, assist in the process of what is required to achieve a tax compliant status
- Advice regarding whether a taxpayer qualifies for a deferral of employees tax and provisional tax, and to assist in calculating the minimum amount payable
- Advice regarding whether an employer qualifies for an additional claim under the expanded employee tax incentive (“ETI”) scheme, and to assist in the calculation of any additional claim under the expanded ETI scheme
Review of business continuity planning (BCP) and resilience to address challenges faced by COVID-19, including:
- BCP gap analysis
- Business impact analysis with priority recommendations to address short-term to long-term business continuity issues faced by COVID-19
- Crisis communication plan development and training
- Remote working and technology environment assessment to address cyber security and privacy risks and short-term remediation
- Review of insurance policy for potential cover for Business Interruption losses suffered as a result of COVID-19.
- Assistance with the preparation of the Business Interruption Insurance Claim should the policy be triggered.
- Review of the effect of COVID-19 on external financial reporting in terms of IFRS or IFRS for SMEs, including:
- Expected credit losses
- Post-balance sheet events
- Going concern
- Inventory valuation
- Revenue recognition
- Provisions and onerous contracts
- Accounting for government assistance.