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Richard's profile

Richard Hallsworth is both a Chartered Accountant and Chartered Marketer working with SME's in the East Midlands at Nicholsons. To find out more please visit Richards' Linked In profile.

Richard's blog pages

Richard Hallsworth's Journal 

Hello and thank you for taking the time to visit my blog. On these pages I hope to journal my thoughts on business finance, how you can use finance, numbers and accounts to manage and drive your business forward. 

Thursday
May202010

Retrospective taxation

DateThursday, May 20, 2010 at 02:19PM

I was listening to Vince Cable today on the radio whilst driving between meetings. He was commenting on situations where rates had been backdated after they had been re-assessed by the Valuations Office. I know that this has been a particular issue in my home town of Grimsby where businesses on the docks have been left with large rates liabilities following a decision to assess the indvidual businesses on the docks and not Associated British Ports (ABP). 

Whilst that's really good news for many businesses my ears pricked up when he said that he didn't support the backdating of tax. That will be interesting in the context of the budget in a few weeks time when we see whether any taxes will be backdated to the start of the fiscal year. 

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Thursday
May202010

More support for SME's 

DateThursday, May 20, 2010 at 02:17PM

In today's Con / Lib coalition programme there seems to be provision for a new Loan Guarantee scheme to support "viable" SME's.

This might replace the EFG scheme that was introduced by the Labour party to extend help for SME's as the recession took hold.

This is nothing more than an intention at present but it could offer real hope for business owners looking for development finance from traditional lenders.

I'll make sure that I update this as and when more announcements are made. 

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Sunday
May162010

Possible (or probable) changes to capital gains tax

DateSunday, May 16, 2010 at 09:44AM

Listening to the Andrew Marr show this morning and his interview with new PM, David Cameron, there was a suggestion that the 50 day budget, promised by the Conservatives, might bring with it changes to the capital gains tax (CGT) system. There has been a lot of chatter recently about this with many business owners worried that changes to match capital gains tax rates with income tax rates might penalise business owners.

Click to read more ...

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Tuesday
Mar232010

Invoice Finance - Good or Bad

DateTuesday, March 23, 2010 at 09:56AM

I was asked to write an article for accountancy web last September as invoice financing was becoming more popular amongst bank managers looking towards a change in type of facilities offered. Last month I attended a Corporate Finance Conference where I talked to an invoice finance provider.

This type of facility still seems to be very popular and I thought it would be worth posting the article on here...

Invoice Finance - Good or Bad

Despite the talk of ‘green shoots’ many business owners are still having difficult conversations with their bank managers as they try to renew facilities. A significant problem is that many businesses have become reliant on using generous overdraft facilities to fund working capital. More often than not when it is time to renew these facilities, bank managers and their credit teams are keen to reduce facility levels because of shifting risk models, which leaves business owners with projected cashflow deficits and sleepless nights. The offer of an alternative funding solution from the bank, such as invoice finance, can seem like the answer to all their prayers, but is it the right route?

Click to read more ...

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Tuesday
Feb022010

It's good to talk . . .

DateTuesday, February 2, 2010 at 01:17PM

VIP Visitor 

Today Hamish Edwards, Co-founder of XERO and Global Head of sales, visited our Lincoln office to talk to our XERO team about his experience of using XERO with clients within his Accountancy practice in New Zealand, and to update us generally about XERO.

Hamish not only talked to us about his experience of using XERO, but also the reasons why he developed XERO, it was great to hear the story behind the product! The passion for the application was clear and all of the team left the meeting with a buzz and determination to be as passionate about XERO as Hamish was. 

It was great to meet Hamish, listen to his story, learn from his experience and take a piece of his passion for XERO into our business.

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