Insights

Blog

Monday, 05 November 2018

Tax tips

When it comes to personal tax, there are always issues that get us accountants excited (well relatively!). Three current hot topics are: Claiming for tax deduction of clothing, Making Tax Digital (MTD) and VAT campaign  reduce the VAT rate in the hospitality and tourism industries.

Blog

Friday, 02 November 2018

Autumn Budget Summary

The Chancellor delivered his Budget speech this week and what a speech it was! There were new taxes introduced, threshold amendments, brilliant-one liners and more. 

Blog

Thursday, 01 November 2018

Trust registration service – round two!

The trust registration service (TRS) last year caused all sorts of issues. So, we’re disappointed that the scope of the existing Trust Register is to be extended in 2020 by yet another EU directive.

Blog

Wednesday, 31 October 2018

Charity fundraising – what are a trustee’s responsibilities?

Fundraising is difficult, especially with more and more demand on donors’ income. However, there are opportunities; 70% of potential donors indicated they would be more inclined to give to a charity if they knew how their money was directly helping.

Blog

Wednesday, 31 October 2018

Preliminary thoughts on Budget 2018

Most of the immediate reaction to Phillip Hammond's 2018 Budget statement dwelt on the headline grabbing increase in personal allowances and the question of whether or not the Budget marked an end to austerity.

Brochure

Tuesday, 30 October 2018

Autumn 2018 Budget Summary

How will the Budget affect you?

This booklet summarises the important changes; but how these affect you, or your business, depends on your circumstances – which are specific to you.

News

Tuesday, 30 October 2018

Autumn 2018 Budget Summary

How will the Budget affect you?

Download our Budget Summary and Tax Rates, which explain the important changes.

Blog

Tuesday, 30 October 2018

What does the Autumn Budget mean for the world of insolvency?

You may have read a Budget summary and have a good idea of the key policies that are set to affect the UK. However, less reported are the impending changes that will affect the insolvency landscape.

Webinar

Tuesday, 30 October 2018

Budget webinar recording 2018

Did you miss our Budget webinar, where our tax experts shared their understanding of Budget announcement from Phillip Hammond on Tuesday 30 October?

Click on the button below to view the recording of our webinar. 

Blog

Monday, 29 October 2018

Solicitors Accounts Rules – overcoming problems

In my recent blog, Solicitors and SAR audits – common problems, I discussed some common problems I’d noticed in this year’s SAR audits. Here, I’ll discuss how to tackle other key issues.

Blog

Friday, 26 October 2018

Possible Budget changes - Capital Gains Tax Entrepreneurs’ Relief

Given the current political situation and the furore caused by the removal of the Business Asset Taper Relief (BATR) in 2008, it may be a surprise if Capital Gains Tax Entrepreneurs’ Relief (ER)  is abolished next week. However, don’t rule out some tinkering with the existing rules.

Blog

Wednesday, 24 October 2018

Making Tax Digital – delay for some VAT businesses

We previously reported that from 1 April 2019, VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000) will be required to keep digital records, and submit their VAT returns via the Making Tax Digital for Businesses (MTDfB) system.

Press Release

Wednesday, 24 October 2018

Markets & Subsidy Assurances are Starting to Have a Positive Impact on Farmers’ Outlook

Britain’s farmers are generally feeling more optimistic about the future than they did in 2017, according to a survey conducted by MHA, the UK-wide group of accountancy and business advisory firms.

The survey, undertaken at Cereals 2018, is based on interviews with over 100 farmers from across the country.

Press Release

Thursday, 18 October 2018

Recognition for Corporate Transactions in Central and East Dealmakers Awards 2018

We are proud to announce that the Larking Gowen Corporate Transaction team have been shortlisted for two categories in the Insider Central and East Dealmaker Awards 2018; Corporate Finance Advisory Firm of the Year and Deal of the Year (transaction size under £10m).

Blog

Thursday, 11 October 2018

Pension contribution changes for NHS GPs, hospital doctors and staff

Changes have been introduced to the annual allowance for pension contributions. This change has had significant impact on medical practitioners who are contributing to the NHS scheme.

Blog

Tuesday, 09 October 2018

Are you an older worker?

I hadn’t given it much thought until last year but, up until about 2011, the Default Retirement Age (DRA) was 65 for men and 60 for women. The ending of the DRA, and the requirement for age equality, has had a significant impact on older workers. The exception is for those lucky enough to be able to retire early due to having a significant pension pot!

Blog

Friday, 05 October 2018

Do you have the right software package for upcoming HMRC changes?

Like many businesses, you’ve been filing your VAT returns online and have kept your records in line with HMRC requirements. However, HMRC are changing those requirements and introducing Making Tax Digital (MTD).

Blog

Monday, 01 October 2018

HMRC crackdown on underpayment of tax by individuals

HM Revenue & Customs (HMRC) collected £832 million in extra tax through investigations into inheritance tax, charitable donations and trusts last year. This shows how HMRC are approaching non-compliance from all possible angles and, as a result, almost all taxpayers are at risk of investigation from the taxman.

Blog

Tuesday, 25 September 2018

Changes to tax rules on remortgaged buy-to-let property

The scenario is a common one: Mr Smith owns some rental properties. During a tax year he wanted to buy a new home for himself. He raised the funds by remortgaging one of his rental properties. The interest charged on the new loan was claimed as a deduction against his rental income.

Blog

Monday, 24 September 2018

Solicitors and SAR audits – common problems

As another season of Solicitors Accounts Rules (SAR) audits draws to a close, I’ve observed some trends and key problem areas that keep cropping up. In this blog and my next, I’ll discuss how to avoid or overcome these common problems.

Press Release

Monday, 24 September 2018

Larking Gowen regional winner of Workplace Wellbeing Award

East Anglian based chartered accountants, Larking Gowen, is proud to be announced regional winner of the Workplace Wellbeing Award in the British Chamber of Commerce ‘Chamber Business Awards 2018’, it has been announced today.

Blog

Wednesday, 19 September 2018

Farm-saved seed – a warning

As we move into the period of autumn cultivations, and clients continue the search for ways to cut a cost here and there, some will look in the barn, consider the cost of fresh seed, and decide that maybe this year they’ll take some of their own best sample, have it dressed and save a few pounds.

Blog

Tuesday, 18 September 2018

VAT domestic reverse charge – how does this affect the construction sector?

HMRC recently held a consultation requesting views on the proposed introduction of a reverse charge mechanism to combat VAT fraud in the construction sector.  Following its conclusion and analysis of feedback, HMRC have published draft legislation in the form of a Statutory Instrument, which will become section 55A of the VAT Act 1994 with effect 1 October 2019.

Blog

Monday, 17 September 2018

Should a charity pay trustees’ expenses?

Making a payment of any sort to a trustee of a charity can be fraught with difficulties, especially when one of the defining aspects of the charitable sector is that trustees aren’t (usually) paid.

Press Release

Monday, 17 September 2018

Larking Gowen Runners raise over £800 for Elmer’s Big Parade Suffolk

Eight runners from Larking Gowen entered the Great East Half Marathon, which took place in Ipswich on Sunday.

The dedicated team ran the gruelling course raising money for Elmer’s Big Parade Suffolk in aid of St Elizabeth Hospice, which supports people with a progressive or terminal illness.

Blog

Friday, 14 September 2018

Sale of shares – food for thought

It may seem obvious but selling shares in a company will generate either a gain or a loss, which means you need to think about Capital Gains Tax. Calculating the capital gain on shares sales is very straightforward.

Blog

Friday, 14 September 2018

Choosing the right business structure

Is your current business structure still right for you? Circumstances may change so it’s important to review your structure from time to time. In recent years, the driver might well have been saving ‘tax’, which prompted many businesses to become limited companies. 

Blog

Wednesday, 12 September 2018

Tax avoidance and evasion

Over recent months, we’ve seen a variety of media reports of tax avoidance and evasion; from global international businesses not appearing to pay their fair share of tax, to celebrities who become involved in “schemes” that promise that no tax will be payable in exchange for a management fee. 

Press Release

Wednesday, 12 September 2018

Larking Gowen holds Crazy Golf Challenge in aid of Elmer’s Big Parade Suffolk and St Elizabeth Hospice.

Teams from 18 local businesses took part in a crazy golf challenge at Ufford Park Hotel in Woodbridge on Tuesday raising over £1,500 in support of Elmer’s Big Parade Suffolk, the next big art trail organised by St Elizabeth Hospice.

Press Release

Tuesday, 11 September 2018

East Anglian accountants launch market-leading benefits package

Chartered accountants and business advisors Larking Gowen has launched a new market-leading benefits package for its people. 

Newsletter

Sign up to receive the latest news from Larking Gowen