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Article

How much information should I share about my business?

Article

How much information should I share about my business?

5 Feb 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).

How much information should I share about my business? - news article image

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. 

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Email
info@shawgibbs.com

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