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COVID-19

Covid-19 | Help for Danish companies

Many Danish companies are challenged due to the current Covid-19 situation. It is therefore crucial to have focus on the company’s liquidity. 
 
The Danish parliament has passed a comprehensive Covid-19 economic stimulus program to help Danish companies through a very difficult time. Companies, who are affected negatively by the Covid-19 situation can apply for compensation from the Covid-19 economic stimulus program.  
 
Accountor can help with the application, including preparation, completing and sending the application and subsequently with the documentation.   Read about the different compensation schemes. 
 
Further,  with short notice, we can assist and support you with following up on your debtors and with managing liquidity.
 
The current  situation may also lead to a number of HR related questions both practical and legal. Our HR-lawyers are ready to assist you with the question that may arise . One example is expanded rights for reimbursement regarding employees, who are affected by Covid-19. Don’t hesitate to calls us´. 
 
We urgently hope that the Covid-19 situation soon improve, but awaits, that it may take longer, than first anticipated. We are ready to help 

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Access to liquidity

The company’s access to liquidity is crucial in the current COVID-19 situation.  The company  should  prepare  cash-flow forecasts to have an ongoing overview of future capital requirements.  If the company lacks liquidity, asking the bank for help, can be relevant

How can Accountor help you?

  • Accountor can assist you in preparation of continuous overview of current and future cash-flow .
  • Accountor can assist you with preparations for the meeting with the bank, including preparation of the budget and the cash-flow budget.
  • Assistance with follow-up on cash flow and preparation of continuous cash-flow forecasts.
  • Assistance with updating the bookkeeping records.
  • Assistance with preparing materials for the bank, including the budget and the cash budget.

Price DKK 750 per hour

Compensation for fixed expenses

Danish companies, who expects a decrease in turnover by more than 35% due to COVID-19 can get compensation for a part of their fixed expenses. The Danish parliaments initiative covers all types of businesses. The fixed expenses, that can be compensated are costs such as rent, interest, and expenses that are contractual, including leasing. The initiative covers the period between 9 March 2020 and 8 july 2020.  An additional criteria is, that the fixed expenses in the period must amount to at least DKK 12.500,- in total for the period. The larger the decrease in turnover, the larger part of fixed expenses can be compensated. 

How can Accountor help you?

Accountor can assist you in the preparation of your application, correct completion and submission as well as follow-up – in accordance with the guidelines from the Danish Business Authority, more specifically: 

  • Assist with a quick review of whether the company meets the criteria's for the compensation initiative.
  • Assist with the estimation of the expected decrease in turnover to comply with the guidelines from the Danish Business Authority regarding the part of expenses, that can be compensated.
  • Assist with completing and submitting the application.
  • Assist with the auditor’s statement in relation to the subsequent documentation.

Fixed price DKK 7.500

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Temporary compensation for loss of income – SMALL companies

For small Danish companies. If covid-19 has led to a fall in your company's turnover of more than 30 %, you can be compensated, if you fulfill additional criteria: 
The number of full-time employees must be below 11, your monthly income in the previous period must be kr. 15.000,- or above and your company must be started before 1. February 2020. 

You can get compensated for 75% of your loss of income for three months, with a maximum of kr. 23.000,- per month and kr. 46.000,-, if you have a co-working spouse. 

The compensation will be temporary and covers the period from 9 march until 8 July. Additional criteria are, that you have a monthly income of kr. 15.000,- in the previous period and that you own 25% or more of the company. 
How can Accountor help you?

Accountor can assist you in the preparation of your application, correct completion and submission as well as follow-up – in accordance with the guidelines from the Danish Business Authority, more specifically: 

  • Assist with a quick review of whether the company meets criteria for the compensation initiative.
  • Assist with the calculation of the expected loss turnover/income in line with the guidelines from The Danish Business Authority   

Price kr. 2.500,-. Auditor statement kr. 3.000,-.

Reimbursement of sickness benefit from day 1

From 27 February 2020 till 1 January 2021 the employers have an expanded right to reimbursement of sickness benefits, which is paid to  employees, who are absent due to COVID-19. Due to the expanded right, the employer will be reimbursed as of the employee’s first day of absence, if the employee is sick or assumed to be sick or in quarantine due to COVID-19 and unable to conduct work from home. It is a general condition that all other conditions of the law are met.

How can Accountor help you?

  • Accountor can assist you in the preparation of your application as well as the application through NemRefusion.
  • Assistance with a quick review of whether the criteria for applying for the expanded right to reimbursement are met.
  • Assistance with the application through NemRefusion.

Price DKK 350 per reimbursement application

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Temporary Compensation for Salaries

The government, employers and employees organisations have agreed on a salary compensation package to help companies, that are heavily impacted by the Covid-19 shutdown:  

Companies, who’s turnover are affected by covid-19, and therefore already have or expects to give notice to lay-off more than 30% of their employees or more than 50 employees, can get compensation up to 75% of the salaries for employees covered by The act of Salaried workers with a maximum of kr.30.000, -  and up to 90% for employees, who are hourly paid, with a maximum compensation of kr. 30.000. 

The initiative covers the period between 9 March 2020 and 8 July 2020.  An additional criteria is, that the employee must contribute with 8 % corresponding to 5 days holiday or flex time.

How can Accountor help you?

  • Accountor can assist you in the preparation of your application, correct completion and submission as well as follow-up – in accordance with the guidelines from the Danish Business Authority, more specifically: 
  • Assist with a quick review, whether the criteria for applying are fulfilled 
  • Assist with the calculation of the expected compensation
  • Assist with completing and sending the application
  • Advise and assist with the required documentation, that is required to subsequently document , that the scheme has been used according to the guidelines, inclusive the required auditor review. 

Fixed price DKK 2.500. Auditor statement DKK 3.500

Contact us and get help

Call +00 45 44 34 50 00, write us at corona@accountor.dk or use the form below