Insights

Our Farms and Landed Estates team is bidding farewell to Partners Grant Pilcher and Mark Balfour, who retire on 31 March after a combined tally of more than 60 years of working with the firm.

Larking Gowen has appointed a new partner, Jack Minns, to its Corporate Transactions team based in its Norwich office.

Larking Gowen helps legal practices manage the financial side of their business. We have a substantial client base in the legal sector and represent more East Anglian lawyers than any other firm.

In the first episode of series four, Mark and James chat about the importance for business owners and their teams to take effective breaks to recharge their batteries.

Partner, Sally Farrow, looks back at Tax Day and gives her summary of the key announcements.

In the final episode of series 1, Chris chats to Richard Turvill. Operating out of Great Yarmouth and Cambridge, Camplings are the region’s leading laundry and linen supplier to the hospitality, food production and leisure sector. Richard and his team had to find ways to pivot and adapt during the last 12 months, and his insights into lockdown, technology, Brexit and business in general are invaluable.

Partner and farms and landed estates specialist, Steve Rudd, highlights the latest details about the Sustainable Farming Incentive.

At Larking Gowen we have one of the largest teams of agriculture accounting specialists in the UK. Our clients range from small family farms to large rural estates throughout East Anglia and beyond. As your farm accountant, we’ll provide a friendly, confidential one-to- one service, backed up by a deep knowledge of agricultural business.

In a recent Upper Tier appeal the taxpayer was found to have a reasonable excuse against a VAT penalty issued by HMRC. The Tribunal found that after writing to HMRC, the response the taxpayer received was 'not as comprehensive in its answers as it might have been.'

If you’re looking to sell a residential property in the UK in the near future (which could potentially include your main home) it’s important to consider your exposure to capital gains tax. There are scenarios where you may think your home is exempt from capital gains tax, but that may not be the case.

Our team has VAT specialist knowledge in a number of sectors, notably the not for profit sector, property, automotive, retail, education and local authorities.

From April 2021, digital links will be a mandatory requirement of the Making Tax Digital legislation for all businesses currently enrolled (or required to be enrolled) for Making Tax Digital. Daniel's blog explains what digital links are and what you need to do to be compliant.

This flyer discusses some of the benefits of using a digital accounting package and how Larking Gowen can help.

In this week’s episode, Chris chats to Ruth Knight, business owner and former chair of Visit the Broads. This valuable conversation can be summed up into: innovation; implementation; change; and passion for the sector.

The Trusts Register (TRS) was introduced in 2017 and requires trustees who pay Income Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty Land Tax and Stamp Duty Reserve Tax to register their trust online. For those trustees without tax liabilities, no registration has previously been required. However, under the new rules, some trusts will need to register.

Louise Dean and George Crowe of Larking Gowen present on the critical factors surrounding the NHS Pension Scheme, along with the annual allowance tax charge and the recent government response to the McCloud judgement.

On Budget days, we usually see the publication of consultations and ‘calls for evidence,’ which give us an insight into the Government’s plans for possible future changes. However, this year has been shaped a bit differently by the Government and we now have Tax Day, on 23 March. What tax changes might we expect to see in the future?

HMRC will release guidance soon in respect of businesses proposing a ‘time-limited’ special method to minimise the impact of COVID-19. The special method must be submitted to HMRC before the end of the VAT year so if you have a March year end, there's less than a month to formulate and propose a method to HMRC.

The first session in the Business Brunch Trilogy 2021: How to attract, develop and retain great people, was presented by Becky Ames and Graham Mummery. You can watch a recording now.  

In this week's episode of Impromptu Business Chat, James and Mark chat about the likely challenges businesses will face as lockdown restrictions are eased and hopefully removed as the UK moves targets its "VC Day" on 21 June 2021.

Suffolk Libraries Day – Suffolk Libraries’ annual fundraising event, will take place on Saturday 20 March, and the Not for Profit team at Larking Gowen is thrilled to support the event. It’ll feature some world-renowned international authors, including Bernard Cornwell, Anthony Horowitz, Kathy Reichs and Elly Griffiths.

Ever since the launch of the Health and Harmony consultation early in 2018, the question of the design and financial impact of the proposed Environmental Land Management scheme (ELMS) has been a matter of concern and conjecture for farmers and land managers. 

Richard reflects honestly on lockdown, giving his insights into what the day-to-day has looked like for The Assembly House this past year; now “the poshest drive through in the city” – his words. He also talks openly about how Eat Out to Help Out was financially a life raft, but probably not the morally right thing to do.

The Chancellor made use of last week’s Budget 2021 to announce a further welcome extension, and some changes, to the Self-Employment Income Support Scheme (SEISS).

Tourism, leisure and hospitality are key industries in East Anglia’s economy. With our in-depth knowledge we’ll identify the market areas where you can improve your profit margins, grow your business and maximise earning potential.

Farms and Landed Estates Partner, Steve Rudd, looks at new initiatives brought out in the Budget, and applies them to the agricultural sector.

In this week's episode of Impromptu Business Chat, James and Mark talk about the encouraging signs coming out of lockdown and the prospect of economic recovery and growth. 

Although the Budget may have offered relatively little for the agricultural sector, Bruce Masson focuses in on the key points of interest. 

Phew, no change to Capital Gains Tax rules for business sellers… for now at least! Could now be the time to implement your succession plans before Rishi takes action at the next Budget? 

Tax specialist, Sarah Lambert, looks at who can take advantage of the new super-deduction, and what we know so far.