Managing Your Cash Flow

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Don’t let the Budget rule your life

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Tim Latham, who runs Midlands-based advisory firm Unconsultancy, says you shouldn’t let the Budget rule your life next week.

“I’m all for being well informed about tax and government financial incentives, but too many SME business leaders will devote 48 hours of their life to watching the Budget, going to briefings and subsequently discussing it ad nauseam with colleagues.

“The Chancellor’s announcements should be only marginal to the future health of your business,” he continues.”If the health of your business depends upon a couple of percentage points movement in tax rates that’s a sure sign that something more fundamental is wrong with your business. Those businesses that are really in tune with their markets won’t be suggesting that a smallish tax increase here or allowance reduction there will be devastating for their business.”

Latham says that if you hear  a competitor bemoaning a change, then it’s really just a thinly veiled way of them saying that their business isn’t in great shape. “Take an extra hour in bed next Thursday or use the time to think about the really big issues.”

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