Having signed up for a second cycling challenge in three years, Michael Leather, Managing Partner at Leathers LLP, gives his thoughts on combining cycling training with running a successful accountancy practice.
This will be the second time I prepare to ride the Tour de Force” (the route of the Tour de France seven days before the Pro’s).
Beyond the obvious physical challenge (2,185 miles in 21 days with only 2 rest days); it is a great opportunity to raise money again for the William Waites Memorial Trust (www.wwmt.org) and support their work. In 2015, we were fortunate enough to assist in the award of a North East Grant to The Wheels Project in Hebburn. Money spent on a charitable activity in the North East is key, but more fundamental is the work undertaken by the charity which includes support for the following projects:
a) Access Sport
London BMX was setup as part of the Olympic Legacy Programme with the aim of building new BMX tracks and encouraging people into cycling.
b) Chaos Theory
A grass roots Violence Prevention Charity which attempts to stop the spread of violence using violence interrupters’ to detect, intercept and diffuse potentially lethal situations in local London communities.
c) Hampton Trust
A charity which aims to break the cycle of abuse, conflict and exploitation, by running programmes for individuals, families and children, and training programmes for professionals.
There are, however, some key business side effects which, as we prepare for a new fiscal year, come from the time I spend training on the saddle be it on the road or, more often at the minute, in the garage on a static trainer. These are:
Partners/Directors in Accounting firms
also run businesses!
It might not always be apparent; but running the business, delivering client service and managing the team are all essential attributes of technical/accounting advice.
Sitting on my bike gives me an opportunity to reflect on the good (and the bad) it provides distance and a time for reflection.
How often do business people get that opportunity?
Opportunities/Threats
Possibly random thoughts:
Latest HMRC missives/current stance
What is happening in the world of accountants?
Acquisitions, personnel and developments
Specific Tax Opportunities:-
5 April Planning
Charitable Donations
Pension Planning
Has that R&D claim been made?
Our business strengths
Property Taxation
Board Room Consultancy
Corporate Structuring
Personal Client/HNWI work
Having said all of that; sometimes, I just concentrate on turning the pedals; looking forward to a hot shower and trying not to suffer!!
