As we near the end of 2020, a year full of new challenges and change, there are a number of learnings we can reflect on, and questions we will ponder as we enter 2021.
For those companies which had to go through the long and painful process of accessing which contracts did and did not contain a lease, the thought of having to process the lease amendments which have arisen as part of COVID-19 filled you with dread. There is however some good news.
As lockdown starts to ease allowing national and international travel to slowly increase, and employers start finalising their plans to open office doors again, there are lots of unknowns around what the ‘norm’ will be for businesses going forward.Will video calls continue to replace face to face client meetings? Will people rush back to working in the office? Although there have been lots of ‘bumps in the road’ for businesses in 2020, providing the best client service for local, national and international clients has remained constant at AAB.
The Energy sector today is a constantly changing, evolving and complex landscape. It is continuously seeking to find an equilibrium in the turbulence of supply and demand, fossil fuels and renewables, and survival and growth. All of which is underpinned by fierce competition for investment.
Discussions have been in place regarding modernising the UK Tax system for several years, with VAT being the first of the UK Taxes to make the move with Making Tax Digital (MTD), rolled out in April 2019 for VAT registered businesses with turnover above the threshold of £85,000. From April 2022 MTD for VAT will be extended to all VAT registered businesses.
2020 will be a year remembered for many ‘unprecedented’ challenges and disruptions across the globe. It could also be said that it will be remembered for not only the increased use of technology, but the significant reliance on it for people and businesses.