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IN THIS ISSUE
September 2011
  • Editorial

    Fascinating as they are, statistics don’t often tell the whole story. Guiding clients and the wider business community through the difficulties of running a business or working for a major company is equally about ideas; it’s about being approachable; it’s about talking. 

    The Editor of Insight Out welcomes readers to the first issue of the new monthly Mazars Magazine and outlines what’s in store in this edition.

  • Video Interview

    We find out what the launch of Insight Out and the new Business Club has to offer the business community. Senior Partner David Evans explains why the company believes clients need all the help they can get in these troubled times.

    David Evans, Senior Partner at Mazars, shares his passion and reasoning behind the launch of Insight Out and why he believes it’s time for a fresh approach.

  • News

    Billions of pounds of lending to businesses will be put at risk if policy makers forge ahead with “uncosted” plans to tighten banking regulations. With the Independent Commission on Banking (ICB) final report imminent, bankers and business people have been busy voicing their concern of the consequences to economic growth and business recovery as further regulatory change continues to ratchet up the costs of banking.

    A round up of relevant news affecting the business sector, including a final chance to have your say on the Controlled Foreign Company (CFC) consultation and how to make your MP your business buddy.

  • Hot Topic

    The pressure is increasing for companies to incorporate human rights into their business plans. The UN Human Rights Council’s recent endorsement of the Guiding Principles on Business and Human Rights, proposed by UN Special Representative John Ruggie, now gives this topic the gravitas it deserves. These principles outline how companies can implement the UN ‘Protect, Respect and Remedy’ Framework, which will help them develop a sustainable business model that can also add to the bottom line.

    The difference between a good and bad company policy on human rights can mean winning a lucrative new contract or becoming the latest toxic brand. Hannah Beecham reports.

  • Sector Report

    Just how the sector will cope with reforms and continue to balance risk versus competitive practices are issues preoccupying financial institutions up and down the UK. Throw into the mix some of the toughest economic conditions on record, a European debt crisis and the business landscape ahead looks tough.

    A raft of new legislation and reforms has catapulted the banking and finance sector to the top of the regulatory agenda. Deborah Benn looks at what changes the sector is likely to experience.

  • The Big Interview

    While the British have enthusiastically thrown themselves around the dance floor and sung along to Abba tunes through good times and bad for over 30 years, we now have leading Swedish bank, Handelsbanken, holding hands with British businesses and nurturing its clients through the worst economic downturn in living memory. We assess what can be learned from its approach.

    Like the pop band Abba, Handelsbanken is a Swedish export Britain just can’t get enough of. Hannah Beecham finds out from Chief Executive Officer Anders Bouvin why its model for business banking bucks all trends.

  • Survey

    Governments are facing a wide range of economic pressures. However, despite budget restraints, regulators appear to have increased their level of activity in an effort to return confidence to the market, according to the latest Dispute Resolution Survey* by Mazars, which surveyed 2,000 top litigation lawyers. 

    A survey of 2,000 of the top litigation lawyers in the UK highlights a rise in regulatory scrutiny. With the new UK Bribery Act now in force, an increase in investigations is likely.

  • Case Study

    Investors are nervous of companies whose revenue depends upon export as fears of a global double-dip recession prevail. But the Portmeirion Group’s achievement of over 60 per cent increase in export sales over the last three years, coupled with its focus on meeting individual market preferences, means this pottery firm is well up to the challenge of worldwide market expansion. 

    The Portmeirion Group safeguards its reputation for producing beautiful, but affordable tableware to a global consumer-base by determinedly focusing on brand, as Hannah Beecham discovers.

  • Grow Your Business

    Riding the recession is a challenge, especially when lenders are reluctant to extend credit lines to shore up a company’s fall in profitability. Restructuring your business at an early stage is not only a way through tough times, but can also help map out a profitable route to maximise business potential come the next growth cycle.

    Seeking advice on restructuring your business at an early stage can not only save your company from going to the wall, it can provide a platform to re-energise your company’s fortunes.

  • Carpe Diem

    “Tax doesn’t need to be taxing” used to be one of HMRC’s advertisements, but recent HMRC announcements suggest that things might be just about to get more taxing after all. Whilst the March 2011 Budget will seem a long way away for many, the announcement that HMRC intends to focus its investigative efforts on the small and medium sized business sector will be an unwelcome development at a time when owners are already working hard in tough times. 

    Small and medium sized businesses will need to be on their toes following HMRC proposals to toughen up on investigations. We look under the bonnet at what the latest proposals mean.

  • Webinar

    The UK Bribery Laws affect all companies in the UK from FTSE 100 companies right down to small businesses. Individuals and companies found guilty of bribery under the new laws will now be subject to 10 years in prison, unlimited fines, disqualification of directors and potential confiscation of property. But as Peter Cudlip explains in this quick Webinar guide, companies that show they have proper anti-bribery and corruption procedures in place will be in the best position to defend themselves.

    In the first of a series of webinar films, Peter Cudlip guides us through the UK Bribery Act and the practical issues companies now need to think about in order not to fall foul of the new laws.

  • Mind & Body

    The Chartered Institute of Personnel and Development (CIPD) calculates the cost of sickness absence is £692 a year per employee, totalling nearly £1.4m annually for an organisation with 2,000 staff. However, companies that look after their employees holistically are more likely to have a happier and more productive workforce - which means less absenteeism, better quality employees. For a company, it all adds up to an improved bottom line.

    Providing a good health and well-being strategy can not only reduce the number of business days lost through illness, but often show employees how much they are valued.

  • Manage Your Business

    From October 2012 new legislation requires employers to automatically enroll their eligible employees into a qualifying pension scheme. Whether you have existing pension arrangements in place or not, all employers, big and small, will be affected. We identify the latest issues affecting reforms and how these are changing the face of employee benefits. 

    As planned pension reforms in the UK turn from discussion to reality, we look at the issues companies face and examine how these provide an opportunity to re-energise employee benefits.

  • E=mc2

    The Accounting Standards Board (ASB) has methodically and very publicly been carrying out its task to replace UK GAAP with an international-based financial reporting regime. The challenge for the ASB is to make sure these changes remain suitable for the vast majority of businesses in the UK and Ireland.

    A look at some of the complexities and challenges businesses will face as the Accounting Standards Board (ASB) replaces UK GAAP with an international-based financial reporting regime.

  • International Focus

    The strength of its domestic consumption, which accounts for 70 per cent of GDP, has allowed it to come through the recent economic upheavals without major damage. Indonesia achieved over 6 per cent growth in 2010 and, along with India and China, claims a place as a G20 country that has not been in recession. 

    Indonesia is a resilient economy with a dynamic domestic market. Today, while most Western countries and Japan are striving to emerge from the 2008 financial crisis, Indonesia has an enviable healthy economy.

  • Spotlight On

    The Midlands has added a feather in its cap with the announcement that Birmingham has been designated an Enterprise Zone by the Government. The news provides a welcome boost to the region’s economic prospects. Businesses can take advantage of a raft of incentives including discounts on business rates, new super fast broadband, lower levels of planning control and the potential to use enhanced capital allowances.

    If you want to expand internationally then you need the right infrastructure at your fingertips. Insight Out looks at how Birmingham’s expertise is attracting companies far and wide.

  • 3 Minute Master Class

    HMRC is reforming the taxation status of non-domiciled residents in the UK. Questions such as how domicile differs from residency, whether the proposed changes will make being a non-dom better or worse off and why the proposed changes will be good for the UK economy are all tackled in our 3-Minute Masterclass.

    A 3 minute tour through the proposed changes to the taxation status of non-domiciled residents status in the UK, giving guidance on what to expect as these proposals come into effect.

  • Business Club Update

    The Mazars’ Business Club aims to provide members with the widest body of information anywhere in the accountancy industry all in one place. Members can access features including a forum for learning about key industry topics, an exclusive business social network and a programme of accountancy and business-management seminars running throughout the year which they can register for and attend free of charge. Business Club content may also be relevant for member CPD (continuing professional development) requirements.

    Businesses can soon benefit from members-only access to the Mazars Business Club. Insight Out looks at the wide range of features that members can look forward to.

  • Event Planner

    A list of the forthcoming Mazars seminars taking place over September and October across the UK. Including a look to the future of financial reporting and useful advice for growing and aspirational businesses.

    Find out all you need to know on Mazars’ upcoming events and seminars including why you should attend and how to register for a place. 

  • About Insight Out
    Insight Out is designed to deliver insightful reports on accountancy issues that cover all elements of business that may be relevant to our clients in companies large or small. It will work alongside the Business Club, launching late September, where members will gain access to more detailed reports, seminars and events.
    Insight Out is a digital magazine published by Mazars LLP ten times a year to keep you up to speed with the key issues, challenges and opportunities facing business today.