Ciarán Medlar features in the September edition of Business Plus magazine

Reacting to the business challenges presented by the Covid-19 pandemic, Ciarán notes that at the beginning of the pandemic, the primary focus for many businesses was about survival – maintaining their staff and customers. He comments that:

“This subsequently developed into the opportunity that the new business environment presented, and how companies might restructure their business and the tax issues surrounding that”.

A notable aspect to emerge from the pandemic is how businesses are dealing with warehoused tax debt, which will need to be repaid in 2022 and 2023. We are advising clients to start putting funds aside now to have the requisite funding in place. This could be a challenge for many businesses while still maintaining their day-to-day business commitments.

 

Remote Advice

Over the past 12 months, video calls have worked very well to facilitate a continuous level of agreement. However, for clients who wish to discuss confidential or sensitive business matters, they often want to do so in-person. I don’t think virtual interaction will suddenly disappear with the easing of government restrictions, but there are certain client interactions that will always warrant a face-to-face engagement.

 

Green Economy

The future implementation of carbon tax will be a new cost that businesses will need to consider as part of their operating costs and margins. Where those costs can be offset against capital expenditure relief, this will act as an incentive for companies to re-examine their supply chains and invest in clean technologies.

 

Retirement Relief