Insights

The next Larking Gowen City of Norwich Half Marathon is being held on Sunday 7 April 2019, starting and finishing within the Norfolk Showground. Registration is open – don't miss your chance to take part in this annual race as places are limited.

Larking Gowen Business Breakfasts are a friendly and informal forum for local business owners. A chance to discuss ideas and gain inspiration from other like-minded people on how to make a business more profitable. The Spring Business Breakfast topic is to be confirmed.

Larking Gowen Partners Andrew Burwood and Lizzy Lloyd will be speaking at the latest event, hosted by Mills & Reeve. This event will cover a range of issues for GP practices and medical professionals. 

Together with the CLA and Landmark Systems, we're holding an event where you'll have the opportunity to find out all you need to know about Making Tax Digital and how you can make sure your business is compliant.

Welcome to part one of our five part blog covering the most frequently asked questions around insolvency and liquidation. For further advice about any of the topics covered in our insolvency blogs or regarding a specific scenario, please contact our insolvency & recovery specialists.

Making Tax Digital for Business (MTDfB) is a key part in the Government’s plan to modernise the tax system – it’s the biggest change in tax administration in decades. It will affect every business in the UK, including those with rental income, and will change the way that businesses keep their accounting records, report profits and interact with HM Revenue & Customs (HMRC).

HMRC have increased their investigations into inheritance tax (IHT) as they look to squeeze more from compliance activities in this area. 5,400* families were investigated by HMRC over their inheritance tax returns last year, up 5% from 5,100 in 2016/17.

If your company is involved in research and development (R&D), the Government’s R&D tax credit incentive could provide a valuable source of tax relief. What exactly is R&D, why is the tax relief so beneficial and what costs qualify for this under-utilised tax relief?

Read the winter 2018/19 issue of AISMA Doctor Newsline – at the heart of medical finance.

If you’re an entrepreneur, you could consider New Year’s resolutions for your business. Here are a few suggestions to think about.

On 1 January 2019, the Annual Investment Allowance (AIA), which is available for businesses to claim on their expenditure on plant and machinery, will temporarily increase from £200,000 to £1,000,000 for two calendar years.  We discuss how this change impacts businesses. 

Figures released on 14 December by the Department for Environment, Food and Rural Affairs (DEFRA) suggest that farm incomes for 2018 will be down by some £860m, a reduction of over 15%.

When you subscribe to our service we are able to make a claim against our insurance policy held with Professional Fee Protection in respect of our fees incurred (up to £100,000 per claim unless otherwise indicated), when we defend a client who is subject to various events.

Most people don’t like to think about their own mortality, but planning for the future is important to make sure your property, money and possessions are distributed the way you intend. Writing a legally valid will is an essential part of this, and can provide peace of mind for you and your loved ones.

Unfortunately, only a minority of healthcare practices have experienced a smooth and problem-free couple of years when it comes to the outsourced function of Primary Care Support England (PCSE). PCSE operates the collection of superannuation and initial processing of certificates (which has been outsourced to Capita).

It’s safe to say that most business owners would like more time for themselves and more money from their business. It’s becoming apparent that most businesses can achieve this through the use of digital solutions software and the automation it provides.

All trustees have a legal duty to act only in the best interests of the charity. Trustees’ personal and professional connections can bring benefits to the work of a charity, often forming part of the reason why an individual was asked to join the trustee body. 

This was Philip Hammond’s third Budget as Chancellor and the second autumn one. Unusually, it was presented on a Monday, apparently wishing to avoid any Halloween references had he held it later in the week. He also slipped in a few jokes, as has become his tradition.

Among the more minor changes introduced in Autumn Budget 2018 were some proposed alterations to the capital gains tax (CGT) regime, which were labelled as “Private residence relief: reform of ancillary reliefs.” These have been seen primarily as a further attack on the private residential lettings market.

For most farms and agriculture businesses, the key announcement of the 2018 Budget is the increase in Annual Investment Allowance (AIA). However, there’s always a catch or, in this case, a few of them, so plan carefully to avoid tripping over.

We're proud to be named as national runner up for the British Chambers of Commerce Workplace Wellbeing Award. The 15^th Annual Chamber Business Awards took place on 28 November 2018 at a gala dinner at Tobacco Dock in London.

Larking Gowen was one of nine ‘Early Bird Herd’ firms challenged to raise £3,500 by January 2019, as part of next year’s Elmer’s Big Parade Suffolk in aid of St Elizabeth Hospice. We can announce today that we’ve smashed that target, raising over £4,700, and well before the deadline.

HMRC’s annual report shows that real cash collected from investigations has fallen from £10.34 billion in 2016/17 to £10.33 billion in 2017/18.

Staff at Larking Gowen have raised almost £2000 for charity, at their Big Night Out 2018.  The money has been donated to East Anglian Air Ambulance, whose air crews, rapid response vehicles, and paramedics were called out 2,725 times last year.

Download our autumn 2018 payroll bulletin, in which we highlight some of the current issues employers should be aware of

An unexpected announcement in the recent Budget means that business owners who hold alphabet shares, which had previously qualified for ER, may wish to look into new qualifying criteria, particularly when considering the sale of their business or shares.

Larking Gowen has joined businesses across the region to support ‘Inspiring Women’ – an initiative by the East Anglian Daily Times to honour 100 inspirational Suffolk women, as part of celebrations marking 100 years of votes for women.

New rules on pricing transparency for solicitors have been published, and come into effect on 6 December 2018. The rules have been put in place following recommendations from the Competition and Markets Authority. Firms that fail to meet the requirements could face disciplinary action.

Larking Gowen LLP is delighted with the announcement that Norfolk ProHelp has secured significant funding, as well as new sponsorship. Norfolk ProHelp provides free professional and strategic advice to charities and community interest groups throughout Norfolk.  Julie Grimmer, Partner at Larking Gowen LLP, acts as voluntary Chair for the organisation.

New data shows that HMRC’s tax take has been bolstered by more successful investigations into individuals and SMEs. The investigation units that focus on those small businesses and individuals collected £16 extra in taxes for every £1 spent on their investigatory staff in 2016/17, up on the £15 collected the year before.