#Immediacy on speech making

Try to find a way to cut, say, 25 per cent from ...

Try to find a way to cut, say, 25 per cent from the time lag. Try, as far as practicable, an experiment by invoicing in smaller amounts. Monitor the results to see if there is an overall improvement in payment time.

Review your 'chase-up' system for outstanding debts. How effective is it? Should you be tougher? How do you know which payments are overdue is the system effective? Consider the potential benefits of using a debt-collection agency or a factoring company. Find out how they work. Find out the experiences of others who use them.

Would such services suit your business? Work out some ideas for obtaining better credit terms from suppliers. Can this be done without loss of discounts, or will other benefits exceed the value of the discounts? Avoiding tax as opposed to evading tax. is a matter of organizing yourself and the business to take maximum advantage of the tax laws and rules.

The job of organizing to obtain maximum advantage is made more difficult because of the readiness with which successive governments and Chancellors 'of the Exchequer will change the rules. This means that regular re-appraisals must be made to get the best out of changing circumstances, and also that skilled professional advice needs to be obtained to ensure that the 'small print' details and complexities are properly understood and -allowed for 'A review of the situation should be made at least annually, and probably after the latest budget the occasion when the Chancellor is more likely to move the goal-posts. Carrying out such a review requites, in some businessmen, a change of attitude. What, you may ask, has attitude to do with it In fact, quite a lot, as the wrong attitude can bring about a weak spot in the management of our business affairs.

Most of us have moments when we feel, understandably, that taxes and the tax system are nothing more than diabolical obstacles to our progress, dreamed up by a stupid and malevolent government. We regard the annual tussle with the tax inspector with as much enthusiasm as we have for a bout of toothache and, as with toothache, we tend to put the subject out of our minds as much as possible.

This attitude can lead to neglect of a vital point, which is that tax is another business expense and should be treated as such. Time will be taken to control other expenses such as wages, fuel bills, mobile phone charges and so on, so why not tax expenses too? Minimizing Tax To be able to carry out any effective control on tax expenses requires at least a working knowledge of the tax system and, although competent professional help is necessary to cope with the complexities, the businessperson should not abdicate wholly in favour of a professional. There are a number of ways in which the informed businessperson can take advantage of the tax system and can avoid unnecessary tax obligations, and he should equip himself with the bask� knowledge necessary to do so.

Fortunately, dealing with tax is not wholly a matter of coping with ...

Fortunately, dealing with tax is not wholly a matter of coping with more and more onerous impositions on business. Governments do, from time ... read more

A basic qualification eg by examination. However, these attributes alone should not ...

A basic qualification eg by examination.

However, these attributes alone should not be the only criteria... read more

This may be all very well, but you are paying for it ...

This may be all very well, but you are paying for it and any resulting savings may be less than the cost of achieving them. If there is a point to be made with the inspector, it is some