Insights

We will provide a brief overview of the changes to the Solicitors Accounts Rules which come into effect in November 2019 and offer practical advice on using these new rules to your advantage.

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 Autumn Business Breakfast topic is yet to be confirmed.

MHA Larking Gowen, Lucas Fettes and Clapham & Collinge are doing a joint seminar for charities trustees and senior managers. Topics will include: Board decision making, Trustee responsibilities when investing charitable assets and the impact of MiFID II, including suitability and reporting and using and challenging financial information.

Our sponsored elephant Eleanor the Adventurer, part of Elmer's Big Parade Suffolk trail, is packing her trunk once again and she’s blasting off on another adventure with Elmer Armstrong, who has been staying at Ipswich School! 

MHA Larking Gowen, Lucas Fettes and Clapham & Collinge are doing a joint seminar for charities trustees and senior managers. Topics will include: Board decision making, Trustee responsibilities when investing charitable assets and the impact of MiFID II, including suitability and reporting and using and challenging financial information.

This guide briefly covers the tax issues involved with letting furnished holiday homes.

Over the years, there’s been a lot of talk about IHT tax reliefs and tax rates. At the moment, every adult has a £325,000 nil rate band.

Further to the Autumn 2018 Budget announcement, draft legislation to be
included in the Finance Bill 2019 is set to reform the intermediaries legislation – usually referred to as IR35 – with effect from April 2020.

In recent years, business sales in the healthcare sector, specifically care homes and domiciliary care agencies, had slowed down, with buyer interest placed in the larger company acquisitions.

Further to the Autumn 2018 Budget announcement, draft legislation to be
included in the Finance Bill 2019 is set to reform the intermediaries legislation – usually referred to as IR35 – with effect from April 2020.

The second round of the Countryside Productivity Small Grants Scheme, administered by the Rural Payments Agency (RPA), opened for applications on 9 July 2019. 

Despite Brexit and the process of electing a new Prime Minister, the Government does seem to be getting some useful business done, although perhaps a bit under the radar. An example is the UK’s first ever tourism sector deal.

On 24 July, Sajid Javid was confirmed as UK Chancellor of the Exchequer.  At the top of the new Chancellor’s to do list will be whether to implement all of Boris Johnson’s tax and spending pledges made during the Tory leadership campaign and, if so, how.

Motor retail is one of the more challenging sectors to operate in from a VAT perspective.

The latest quarterly Insolvency Statistics were released on 30 July 2019 by the Insolvency Service.

In a long running battle, the University of Cambridge has challenged the way HM Revenue & Customs’ recovers VAT on investment funds of donations and endowments.  The University claimed that they should be able to claim back a proportion of the VAT because the investment returns were used to support wider business activities.

HMRC’s latest statistics reveal that taxpayers underpaid £7.4bn in tax last year, up 10% from £6.7bn in 2016/17. This represents 21% of the total UK Tax Gap last year (£35bn), which is an increase from 20% in 2016/17 (£33bn).

Whilst much noise has, and continues to be made about the proposed changes to IR35, which will take effect in relation to services provided to medium and large businesses in the private sector from April 2020 (draft legislation was issued last week), it largely falls on deaf ears within government.

East Anglian-based accountancy and business advisory firm MHA Larking Gowen is extending its company wellbeing programme to reach beyond the doors of its offices.

New rules on pricing transparency for solicitors came into force on 6 December 2018. The rules require solicitors to publish their pricing and service information on their websites about certain legal services. 

The rules about PETs are a bit more complicated but, in summary, to be free of inheritance tax you need to survive the gift by at least seven years; although what’s known as taper relief arises after year three.

Welcome to month seven of our publication, Using Conflict as a Catalyst for Change – A Guide for Embracing, Managing and Mitigating Conflict Within Your Charity. This month we focus on how sometimes conflict can be just what a charity needs.

Last month we looked at the example of Mrs Lambert, who sold her residence and realised a capital gain. At present her tax bill is £1,400 but HMRC are consulting on changes to a valuable relief that would see her tax charge increase to £14,700 if she sells the property on or after 6 April 2020

How can you mitigate potential inheritance tax liabilities? Do the recent pension changes for women affect you?

Have you ever heard the saying, “Put not your trust in money but put your money in trust”? Actually, this advice is urging nineteenth century heiresses to protect their wealth, which would otherwise pass to their husbands, when they married

Welcome to month six of our publication, Using Conflict as a Catalyst for Change – A Guide for Embracing, Managing and Mitigating Conflict Within Your Charity. This month we focus on conflict amongst charity trustees.

In my recent inheritance tax blog I commented on the need for a valid will. A will directs the distribution of your estate, but how can you save inheritance tax?

MHA Larking Gowen named national winners of the Working Families Best Practice Award for Best Flexible Working, the award establishes the East Anglian-based accountancy and business advisory group at the forefront of new thinking on the relationship between employers, employees, and their work. 

MHA Larking Gowen exhibited in the #FarmMyFood event which took place on Friday 21 June at Elveden Estate. Our agricultural experts were there today giving the young teenagers an insight into agricultural accountancy and what the team here at MHA Larking Gowen do to help our agricultural clients. 

At MHA Larking Gowen, we see ourselves as more than purely chartered accountants. We’ll look after all your tax and finance issues, and we’ll be trusted business advisors with a friendly one-to-one service you can count on