Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

Remain ,.,,,,, with your company

22 July 2016

There’s a bit of a problem at Whitehall. The mandarins are just a little bit short. Not short of your cash - just this once. Whitehall doesn’t want any more of your taxes - just yet. This time, they’re after you. In person. And accountants.

It’s been a while since Britain was negotiating all alone at the international trade table in the 1970s. The early 1970s, back when Trex was the bakers topping of choice, and T-Rex was topping the charts. Trouble is, all the scary dinosaurs who did the negotiating back then are a bit Jurassic themselves these days.

There’s widespread speculation that the new Brexit ministry will bulk up their negotiating teams by raiding the current generation of the corporate gene pool, and tempting away up to three hundred of the city’s top lawyers, financiers, and accountants. It’s the accountants bit that got our attention.

Now, we value our team at Springfords, because we’ve been together a while. Keeping the team together works for everyone. We like the idea of continuity, it works well for all our clients to meet familiar faces and develop long term business relationships with us plus it saves us recruitment and training costs too. Anyway, we don’t much fancy eating our sandwiches on College Green, what with all the traffic, camera crews and itinerant demonstrations.

The practice of poaching or seconding of staff from industry to government has been around for a while, even if the scale proposed this time is approaching wartime levels. The most famous managerial poaching case of all, Richard Beeching, was ostensibly on secondment from his chief executive position in the chemical industry with ICI, a post he returned to afterwards. The demon barber of the railways, demanded his government salary match his industry salary - an unprecedented level of remuneration. Just like a professional footballer loaned out to a rival club, much of the wrangling over his appointment centred on which party took financial responsibility for the various aspects of his substantial remuneration package.

Secondments can however be beneficial for all concerned. New approaches, new skills, new experiences can all be transferred to the businesses and individuals involved. Sir Richard, as he was on his return to industry, obviously brought some newly acquired skills and experiences back from his time on the British Railways Board. He soon set about decimating ICI with all the vigour he’d shown for pruning the rail network.

Whether you get the call to Whitehall, or whether you enter into a loan spell with another business, Springfords will be here to help make sure all the tax aspects of your negotiations go smoothly. Unlike some government departments, our team are not in the least bit Jurassic. We keep our skills up to date, and practice them too. That’s why Springfords is still top of the charts, long after T Rex spiralled into the run out groove. We’re very much 21st Century Boys (and Girls).

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springfords blog

Some news, views and comments about everything and anything, relevant and irreverent.

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