Monday, 18 April, 1415hrsI've been immersed in the world of corporate law for one month now so it's probably time for a blog to let you know how I'm getting on. Well I'm busy thanks to Mr Darling at the Treasury. I moved to the d
epartment at just the "right time" although I feel that may be a moot point.
As many of you will be aware, as of 6th April significant changes to the Capital Gains tax regime were made which effectively means 80% more tax for people disposing of their companies. Net result: lots of deals were pushed through before 5 April, meaning a very busy corporate department.
So I took the walk "upstairs" to Corporate and to my new desk, in a room with a partner. I'll not lie - I wasn't particularly looking forward the prospect of sharing a room with one of my bosses. However now that I've got used to it, I actually quite like it. The room is far better than the open plan office I was in when in the conveyancing department; far quieter for a start.
Furthermore, sharing with a partner has two added bonuses. Firstly I get the chance to absorb a lot of what is being said and done by an "Experienced Professional" which can only be beneficial. Secondly he's often in meetings, which frequently means that I have my very own office. Ideas above my station perhaps, but I'll take the small victories for now.
The department as a whole seems pretty close knit and I feel (or at least hope) I'm settling in well. We went for a curry and some beers (my favourite food and drink combo) to celebrate the end of the tax year so already I'm enjoying the social side. There have been a few late nights in the office before deals have gone through but nothing too horrific – yet.
What kind of work are you doing I hear you cry? Well it's been of an admin nature thus far, due mainly to the time constraints of the 5th April deadline but also because I'm still learning the ropes. The work has, on the whole, been related to the acquisition of companies and I've managed to get involved in 3 completion meetings so far which is pretty good going I feel. Granted I've mainly been a passive observer, but it's been good to have been around these men (and women) of business.
As some of you may recall, I wasn't the biggest fan of using the phone in an open plan office so imagine my dread at the prospect of having to use the phone in front of a partner. However, I'm pleased to report that a significant amount of my correspondence is by email so I've been spared that ignominy for now. The problem with email, however, is that they are too easy to send and thus it is too easy to make mistakes so I'll have to be diligent.
My final observation has to be about the money. The figures involved in some of these transactions are just amazing. A month ago I was dealing with conveyancing transactions of under £200k but in only my second week in corporate I was contributing to several multi-million pound deals. My jaw has rarely been off the floor. When I stop asking "how much?!" I'll know that I've settled in properly.
