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Article

How much information should I share about my business?

Article

How much information should I share about my business?

February 5, 2021

1 minute read

If the business begins to prosper, suppliers, HMRC and even employees begin to demand greater visibility. HMRC are becoming more demanding when it comes to sharing of company information specifically with the advent of Making Tax Digital (MTD).

Owner managers have a tendency to keep information on
financial performance to themselves.

If the business begins to prosper, suppliers, HMRC and
even employees begin to demand greater visibility.
HMRC are becoming more demanding when it comes
to sharing of company information specifically with
the advent of Making Tax Digital (MTD).

Banks are
also becoming more stringent in their demands to see
Management Information (MI) and Cashflow forecasts
from a company before they grant loans, mortgages or
re-mortgages. We have seen this trend for bankers wishing to see MI spike in the wake of the Covid pandemic.

Therefore, the increasing demands for business
information from OMBs is hard to avoid. We find that the
more a business shares with us, the more we can provide
a steer towards the next business goal.

See our other Big Questions here

Author:

Peter Watts

Partner

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Author:

Peter Watts

Partner

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

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