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.

In part 1 of the blog, we examined three ways a solicitors firm can plan to reduce its tax liability. In this blog, and with the tax year end looming, we examine three tax-mitigating opportunities available for individual solicitors.

Lee Green, Director of Insolvency and Recovery, and Bruce Masson, Director in the firm’s long-established Farm and Landed Estates team, are to become partners, with effect from 1 April.

TW Gaze and Larking Gowen invite you to a joint seminar at the TW Gaze Diss Auction Rooms

The Government has passed legislation to extend the non-resident capital gains tax and non-resident corporate tax on gains net to all UK land and property, from 6 April 2019. 

For many solicitors firms, the end of the business year is fast drawing to a close. If results are looking better than previous years, you may be starting to think about the tax implications of a better year. We would urge solicitors firms to make plans now to mitigate these liabilities, and in this blog we discuss three key points that solicitors firms should consider before the year end.

Since April 2017, employers with a pay bill of £3 million and over have been required to contribute 0.5% into their apprenticeship levy fund. Two years on, the uptake and spending of these apprenticeship levy funds has been far lower than expected, so much so that the Government is reducing the co-investment cost for small employers.

The senior management team of one of the region's largest office supply companies has successfully completed a buyout of the business.

Mayday Office Equipment Services, based in Norwich, has been taken over by Operations Director Karen Aldred, Commercial Director Jamie Mulhall and Sales Director Adam Northcut.

Larking Gowen helped with the successful buyout of majority shareholder and former Managing Director Graham Cassie.

So, we filed our 2018 tax return in January, considered some useful tax planning in February, and while we wait and see what happens with Brexit, let’s focus on being proactive in our business in 2019.

Larking Gowen has commissioned an adventurous Elmer from artist Jade Dye, for this summer’s Elmer’s Big Parade Suffolk campaign in aid of St Elizabeth Hospice. “My design is inspired by my love of Fantasy art,” explains Jade Dye, who works as a web developer at the University of Suffolk

Larking Gowen welcomes Rob Skilton to its specialist VAT team. Based at the Norwich office, Rob has worked in the accountancy profession for 20 years and has 8 years expertise in VAT, guiding businesses through this area of tax.

Charities with total turnover above £200,000 can undertake non-primary purpose trading of income up to £50,000 and benefit from tax exemption (trading towards their primary charitable purpose can be at any level).

The question of tax relief on grain stores has puzzled practitioners for some years. The Structures and Buildings Allowance may now be available for new buildings but relief is limited to 2% a year. 

We are pleased to announce that our 13th annual Tourism and Leisure Business Survey is live.  

Now in its 13^th year, the annual tourism and leisure business survey asks all businesses from the tourism, hospitality and leisure sector to join forces and take part.

In my previous blogs I discussed CEO fraud and vishing as two types of scams which your legal practice could fall into the trap of. In this update I look at a further scheme that legal firms should be aware of.

Charity fundraisers need be aware of two changes to tax relief thresholds that apply from 6 April 2019. Charities often encourage donations by giving a small reward to their donors. Where this is more than token value, this needs to be measured and assessed against value thresholds to make sure that gift aid can still be claimed.

Charity trustees tend to delegate management and the day-to-day running of the charity to its employees and management team. However, ultimately the responsibility lies with trustees, therefore they must make sure that the charity has systems and controls which are designed to mitigate the risk of fraud.

Welcome to part two of our five part insolvency blog covering the most frequently asked questions around insolvency and liquidation. 

Now tax returns are hopefully out of the way, it’s an ideal opportunity to think about some potential tax saving ideas. 

The latest MHA Manufacturing and Engineering Report confirms small and medium-sized enterprise (SME) manufacturers in the East Anglian region remain optimistic and confident about future growth, despite the uncertainty surrounding Brexit, rising production costs and skill shortages.

Welcome to our 2018 Farms and Landed Estates Review of the Year.

Welcome to 2019 and our new publication, ‘Using conflict as a catalyst for change: a guide for embracing, managing and mitigating conflict within your charity’. We think it’s an excellent document, and I hope you find it a useful tool to benchmark current practice and identify actions.

The Solicitors Regulation Authority’s (SRA) proposals, under its ‘Looking to the Future’ reforms, include important changes to the Solicitors Accounts Rules (SAR). The date to apply these changes is likely to be April 2019.

HMRC are currently investigating 171* professional football players, up 90% from just 90 football players under tax investigation in September 2017, as they look to crack down on the misuse of image rights payments, and increase revenues from the industry. 

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.