You’ve started your business, you’ve perfected your offering, now all you need to do is find someone to buy from you. Social media is an effective way to promote yourself, so why bother to network?
What puts people off networking?
Some of my clients are put off networking because they feel it involves getting up at the crack of dawn, and having to stand up and deliver a short talk to sell themselves.
The fifth MHA Legal Benchmarking Survey has recently been published. This year has been a positive one for most sizes of legal firms but they must make sure that they are profitable and efficient to stay competitive.
While our report reveals that the sector is in good financial health, with performance in 2016 pointing to a positive outlook for the future, firms continue to face a challenging environment.
Charity trustees have well known duties of stewardship, which means ensuring that resources are used for charitable purposes and are not put at risk unnecessarily. There is also, of course, a duty to use them effectively. Three areas to consider are:
Remember the case of the Bank of England investing in the payday lender Wonga? Charities might be encouraged to consider an ethical investment policy, so investments don’t compromise the aims of their charity.
Now that we are in the new financial year it is perhaps a good time to consider the financial state of the agricultural industry in the UK. “Fragile” is a good word to start the assessment. Commodity prices have picked up over the last six months, but much of this is simply a currency movement following the Brexit vote and even so there is still relatively little margin when wheat stands at under £140 for harvest.
February marked the 75th anniversary of American troops arriving in the UK during the Second World War. The arrival of thousands of American personnel to the east of England changed the region forever. By 1943 there were more than 100,000 US airman based in Britain, mainly in East Anglia.
For this reason, Larking Gowen decided to hold its 2017 Tourism Survey Seminar in Suffolk, at The Swan in Lavenham.
HMRC have announced that by 2020 they expect all businesses to upload their profit and loss quarterly and electronically. Though we are still awaiting the details of how the logistics of it will work, two things are sure:
it is definitely going to happen; and
having a cloud accounting system in place will make this as easy as clicking a button.
Charities are certainly adapting to changing funding environments. In seeking to reduce reliance on grant funding, many charities have looked to increase enterprise trading and charging for services. But the tax impacts of developing new opportunities and even delivering the same services under different arrangements have sometimes been overlooked – these need to be on a charity’s radar.
Finance Bill 2017 has now been passed, but with only 148 of the original 762 pages. Almost 90% of the tax legislation we were expecting to be passed has now been delayed. So what has changed?
In short – the general election. As Parliament was dissolved on 3 May in advance of the election it was agreed to hold over much of the more complex technical legislation.
With large sums in their office and client bank accounts, and access to sensitive information about their clients, legal firms are an attractive target for fraudsters.
Moreover, fraudsters’ methods are becoming more varied and sophisticated. Can your firm’s financial controls combat fraud, or do they need a ‘spring clean’?
Our recent experience
Last year there was a significant change to the Solicitors Accounts Rules, giving more weight to the accountant’s judgement of risk.
Making Tax Digital for Business (MTDfB) is a key part in the Government’s plan to modernise the tax system – it is the biggest change in tax administration in decades.
It will affect every business in the UK, including those with rental income, and will change the way that businesses keep their accounting records, report profits and interact with HM Revenue & Customs (HMRC).