Thank you, Next - Business Advisory & Tax

Seat moves are exciting and busy times. Here's a little insight and a helping hand should you rotate into Business Advisory & Tax.

What tasks have you particularly enjoyed in this seat?

I enjoyed the variety of contentious and non-contentious work during my seat in the Business Advisory and Tax team. My work focussed on insolvency and business restructuring for clients in the retail, leisure and restaurant industries in particular. It was interesting to witness first-hand the effects of changing consumer spending patterns and other economic pressures on these businesses.

For example, I was involved in the administration process of HMV. It was an exciting, fast-moving and high profile matter to be a part of. I was responsible for preparing the necessary documentation, ensuring all relevant parties and charge holders were notified and filing all documents with the court. Prior to this, I also enjoyed assisting with the administration of Blue Inc, the clothing retailer.

What have you learned in this seat that will help in your career?

Given the small size of the team, I was assigned a great deal of responsibility and expected to maintain a high level of client contact from the outset. The experience has therefore improved my ability to manage client matters, advising them clearly and in the appropriate way.

I've learnt a lot about the insolvency options for businesses and which are most appropriate based on the circumstances. I've also had the opportunity to attend numerous board and client meetings. At the exit phase of insolvency and disputes, I've drafted settlement agreements and asset sale agreements for companies in administration.

What are your top tips for other trainees to hit the ground running in this seat?

Businesses entering insolvency always attracts the media spotlight. So casting an eye over the news will give you an idea of the trends and key issues facing them. Becoming familiar with the full range of insolvency options available will therefore be useful, particularly their appropriateness in different contexts and the procedure for a company entering administration and liquidation. Also, a more day-to-day tip would be picking up the phone and speaking to the clients from an early stage goes a long way.