Insight Associates provide outsourced accounting and Finance Director services to ambitious and growing businesses. We work as your only resource or with existing staff to give you complete financial support including monthly management accounts, high level financial advice, robust controls and financial systems, funding and business planning, payroll & compliance, VAT returns and statutory compliance.

Successful business leaders have all the information they need to make good decisions…Do You?

Saturday, February 19, 2011

Managing costs

It is incumbent upon all business leaders/owners to manage the costs in their organisations in order to maximise shareholder value ... it is a very clear prime responsibility no matter what size the business.
One of these costs is tax it or not if the business pays "too much" tax it is not maximising shareholder value.
Why is it then that the bank Barclays is being chastised in the news this morning for what appears on the face of it to be good tax management?  It seems that the whole bank bashing state of mind is simply getting out of control ... Barclays did not even get Government bail out money so why should they be penalised just for being a bank and the things their competitors got wrong?
My real rant though is the statement made on BBC news this morning. In the same breath it was stated that "people" will get upset by Barclays actions as they have paid only £113m in Corporation Tax yet paid many billions out in bonuses!  I am no tax expert (far from it!) but surely the Exchequer have gained through this position?  The main rate of Corporation Tax in 2009 (the year in question) was 28% ...however the bonuses paid would have been subject to potentially 50% Income Tax, 1% employees National Insurance, and 12.8% employers National Insurance. A total bill of 63.8% ...more than double the Corporation Tax the bank might have paid on the extra profits had it not paid the bonuses??
I am happy to be proved wrong ...but to my mind this is just journalistic nonsense!

Monday, February 14, 2011

On the radio with The Business Hub

As you may have already read elsewhere, Insight Associates has just become the main programme sponsor for The Business Hub.

The Business Hub currently broadcasts on a Sunday morning on Star FM in Cambridge and KLFM across East Anglia, and negotiations are well advanced to roll out across the country.

Garry Mumford with show presenters Ian McKendrick (standing) and Mark Peters (right)
The Business Hub is the brainchild of and presented by business expert and social/new media strategist Ian Mckendrick and Star Radio’s breakfast show host and Programme controller Mark Peters. It is the only show of its kind across the East of England and is unique in the way that it engages with its audience not just through the FM broadcast medium but also through social media. Since launching in early 2010, the show has attracted a huge number of big name business hosts including ex-Dragons Den panellist Doug Richards and, most recently, ecademy founder Penny Power. The show, which aims to ‘help anyone in business succeed’, boasts over 80,000 weekly listeners and 20,000 podcast downloads a month.

As well as promotion throughout the show, Insight Associates also now has a weekly feature talking about “helping businesses better manage their money”, featuring Insight’s founder and MD Garry Mumford.

The pictures were taken in the Studio whilst recording last week, a great fun experience which always comes over in the show, which has mixed well the serious side of business with making sure it is all good entertainment.

Make a point of listening each week, either live to the broadcast (on FM, off the stations web sites, or on Internet Radio), or downloading the podcast.

Insight Associates, Insight House, Riverside Business Park, Stoney Common Road, Stansted Mountfitchet, Essex, CM24 8PL, UK
Tel: +44 (0)1279 647447 Fax: +44 (0)1279 814512
Insight Associates is a trading name of Financial Catalysts Limited. Registered in England and Wales Number: 5670047. Registered Office as above. Disclaimer | Cookies