business focus


Chartered accountants Haines Watts presents a series of articles based on its blogs. It offers analysis, reviews and comments and welcomes your feedback at hwca.com/blog


of the m of th


We did something terrible In the nineties and noughties we did something


terrible: we reduced or stopped investing in management training, and now we’re reaping the consequences


Often, that critical link between leaders and staff was lost but the antidote is management that constructively challenges those above and holds staff to account.


In this volatile and complex world, we face some unparalleled challenges:


• Organisational energy drains away as companies struggle to find the answers to the unanswerable, but great management can alleviate the pain by giving context to the staff


• Managers face the dilemma of being the ‘filling in the sandwich’, berated by leaders for their perceived slowness in implementing transformational projects and moaned at by their teams who feel increasingly displaced by digitalisation


• The idea that people join an organisation for career progression and leave because of conflict with their manager is even more pertinent as diverse generations and cultures clash


• Difficult conversations can be made easier by setting and modelling adherence to standards. Good managers can confer energy, commitment and loyalty to frontline staff who can, in turn, delight customers


• Scandal and revelations can ignite a social media frenzy and destroy reputations instantaneously. Great managers set the tone for a culture of truth, honesty and integrity.


It certainly is hard to be a good manager.


Henley Business School’s Developing Management Practice (DMP) programme welcomes first-time managers, seasoned professionals looking to reappraise their approach and sharpen their tools, and managers who feel training has entirely passed them by. It addresses the challenges outlined above, enabling you to become the best possible manager you can be.


Designed to be practical and experiential, it explains the core requirements of being a manager, and creates a safe environment in which delegates can define what they stand for and enhance their personal brand.


Hannah Dutfield 01491 418767 exec@henley.ac.uk henley.ac.uk/DMP @HenleyExecEd


THE BUSINESS MAGAZINE – MAY/JUNE 2018


Construction sector boost from R&D tax relief writes Peter Wright, partner, Haines Watts


The construction sector is not traditionally an area which one would ever associate with people in white coats undertaking R&D activities, which is probably why so few companies in the sector are taking advantage of the tax reliefs that are available.


R&D tax relief is a valuable relief – every £100,000 of eligible employment costs can generate a tax saving of £25,000 – and is available where companies can demonstrate development work in design and engineering that involves overcoming technological problems.


If you consider that many construction projects are unique and have specific technical issues to overcome, then it is not so surprising that companies in the sector could qualify for this relief. Any company that undertakes design and build work, for example, will almost certainly qualify in respect of a proportion of its employment expenditure. The relief can also extend to expenditure on specialist third parties such as architects, structural engineers, etc.


The Government is keen to transform the construction process in the UK with a view to creating affordable buildings that are safer, healthier and use less energy. The recent government white paper on industrial strategy includes measures to


provide an extra £725 million to support innovation in construction and life sciences through the Industrial Strategy Challenge Fund.


Another key policy of the Government is to raise research and development investment to 2.4% of GDP by 2027. That is only likely to be achieved by continuing to offer tax incentives such as R&D tax relief.


For the foreseeable future, therefore, construction companies can anticipate tax savings through claiming this relief – it is just a shame that so few seem to be taking advantage of this opportunity.


To find out if you could claim this government tax incentive scheme designed to encourage companies to invest in R&D, contact Haines Watts:


hwca.com


businessmag.co.uk


53


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84