SMEs shouldn’t feel daunted by changing rules and regulations

Friday, 25 March 2016

SMEs shouldn’t feel daunted by changing rules and regulations

In a landscape of shifting rules and regulations, many small businesses can feel daunted by the prospect of keeping pace with their legal responsibilities and obligations.

In a landscape of shifting rules and regulations, many small businesses can feel daunted by the prospect of keeping pace with their legal responsibilities and obligations. 

The pressure of compliance and regulatory restrictions can be felt on numerous fronts. 

HMRC are becoming more capable of drawing upon numerous resources to find reasons to investigate businesses and individuals. This has recently increased the number of investigations for those taxpayers who have not paid the correct amount of tax. The penalties for making mistakes in tax affairs can be severe. 

Health and safety issues can also pose problems for all types of business, especially those that increase in scale beyond their initial start point. Despite previous misconceptions that health and safety concerns are expensive and time-consuming, SMEs should know that good occupational health and safety can have financial benefits.

For businesses that invest more time and resources into corporate hospitality, many will be aware that the Bribery Act has brought with it the need for special consideration in providing or accepting hospitality to avoid the strict consequences for being deemed to have inadvertently committed an act of bribery or corruption. 

At Ronald Fletcher Baker LLP, our criminal and regulatory department can assist in providing advice on such issues. In addition to this, businesses can take advantage of experience in areas such as anti-money laundering, restraint, confiscation, cash seizure, Serious Fraud Squad and Financial Conduct Authority investigations. 

Should you have any queries please do not hesitate to contact one of our team. 

http://www.rfblegal.co.uk/

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