Monday, 09 July 2018
There are some charities that have always embraced campaigning as an important aspect of their work. Others have just started such activities more recently. At a time of funding austerity, campaigning can be a highly effective way for a charity to achieve its charitable aims and protect the rights of their beneficiaries.
Saturday, 07 July 2018
The 23rd Lord Mayor’s 5K City Centre Classic Road Race took place in Norwich this weekend, with a record-breaking number of participants. Sponsored for the first time by chartered accountants, Larking Gowen, the race was set up in 1996, and has a reputation as one of the toughest on the UK race circuit, attracting top athletes from the county, and around the UK.
Friday, 06 July 2018
In our recent blog we looked at some of the ways farmers could diversify, such as property rental, tourism activities or contract or organic farming.
This blog will explain some of the possible tax implications of these common diversification methods.
Thursday, 05 July 2018
I’m sure you’ve all heard of the Government’s plans for Making Tax Digital (MTD) but do you know the implications for you? I suspect that many small businesses are painfully unaware of how MTD might impact on their business administration in the foreseeable future.
Thursday, 21 June 2018
Figures released by DEFRA at the beginning of May showed that Total Income from Farming (TIFF) in the UK is estimated at £5.7 billion. TIFF represents the return to the farmer after paying all expenses and charging depreciation, but without any deduction for proprietors’ wages or any notional rent on owned land. It’s closely akin to the figures shown in the typical set of farm accounts and, since it is based on a calendar year, broadly captures the results of harvest 2017.
Thursday, 21 June 2018
HMRC are introducing a new legal ‘requirement to correct’ undeclared UK tax liabilities on offshore matters or transfers by 30 September 2018. If you have something to declare to HMRC then don’t wait. Act on it now by either getting in contact with us, or getting in contact with HMRC directly.
Tuesday, 19 June 2018
Charities are associated with giving, but most also actively trade. Charities have no general exemption from tax and pay some taxes at the same rate as businesses. However, there are specific measures that reduce the burden, especially for tax on profits (corporation tax).
How can charities make sure that the right structures are in place to achieve efficient tax compliance?
Monday, 18 June 2018
Capital gains tax (CGT) gets reported on your self-assessment tax return for the year. The filing deadline and due date for payment is 31 January following the end of the tax year. So, with the deadline following standard self-assessment procedures, why are so many non-residents being hit with late filing penalties?
Wednesday, 06 June 2018
Are you confused and befuddled by the talk of cryptocurrencies? I must say that I am/was definitely confused by the concept, but I have no doubt that the whole idea will develop over the coming years and it will be as normal as Pounds and Euro’s.
But what is a cryptocurrency? It is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography.
Thursday, 31 May 2018
The Engine Issue 1 has articles containing information on: becoming the Manufacturing Employer of Choice, Research & Development Tax incentives, succession issues for family owned businesses, company cars and the affect of Brexit on manufacturers that retail directly to customers.
Friday, 25 May 2018
Our Legal Benchmarking Report reveals a need for firms to focus on organic growth, improving the efficiency and billing processes as the sector faces the end of a three-year period of sustained growth. Read the full report here.
Thursday, 17 May 2018
For many years farm business owners have enjoyed a regime of capital taxes that have been extremely helpful in terms of planning for family succession. Wealth is largely protected on death with holdover relief to defer capital gains tax (CGT) to allow lifetime gifts to be made, or 100% relief for agricultural property and business property.
Monday, 14 May 2018
Meetings and their documentation are important. The minutes of your considerations and decisions are the evidence on which you’ll be judged as to whether you’ve fulfilled your duties as a trustee. Read our top tips for trustees' meetings.
Wednesday, 09 May 2018
There are many sayings about managing cash in a business – “cash is king” and “turnover is vanity; profit is sanity; cash is reality” to name but two. With many farms and estates diversifying their businesses, how can you be sure which part of the business is contributing to the cash inflow?
Tuesday, 08 May 2018
We recently launched the results of our annual tourism and leisure business survey, which cover all sorts of tourism related businesses in Norfolk, Suffolk and Essex. This includes hotels, sport and leisure, museums, pubs and visitor attractions.
Wednesday, 25 April 2018
Recent research found that only 25% of law firms believed they were in compliance with the new General Data Protection Regulation (GDPR) that comes into force on 25 May 2018. What should law firms be doing?
Wednesday, 25 April 2018
Our 2018 Tourism and Leisure Business Survey was again well supported this year and we would like to thank all of you who have participated in it and all those who have helped to promote it. Download our brochure to read the full results.
Monday, 23 April 2018
On Sunday 15 April just under 2,000 runners took part in the Larking Gowen City of Norwich Half Marathon. Fifteen teams entered the Business Challenge, an inter-company ‘best time’ competition held within the main race. Click here to find out the results...
Thursday, 19 April 2018
Some 300 tourism businesses completed the Tourism and Leisure Business Survey, co-ordinated by Larking Gowen - Chartered Accountants and Business Advisors. The survey enables voices from Norfolk, Suffolk and Essex’s tourism sector to be heard. Read the results here
Thursday, 05 April 2018
In February the Government published a consultation document entitled “Health and harmony: the future for food, farming and the environment in a Green Brexit.” The document runs to 64 pages and sets out possible options for the future of UK farming over the next generation. It should be regarded as compulsory reading (The NFU have produced a more manageable 14-page summary).
Thursday, 05 April 2018
At this time of year, we accountants are usually getting excited by the annual Budget, poring over the small print to make sure our clients aren’t paying too much tax, and hurriedly trying to put things in place before 5 April.
The Chancellor has changed things around and has issued the first Spring Statement. To be honest it’s been a bit of an anti-climax, being very much pushed down the agenda by the media. Whereas the Autumn Statement would give us some budgetary meat on the bone, now this will be restricted to the Autumn Budget.
Wednesday, 04 April 2018
Chartered accountants Larking Gowen have announced that they have joined Elmer’s Big Parade. The trail of 50 large and 100 small Elmers will hope to raise vital funds for St Elizabeth Hospice and arrives in Ipswich in 2019.
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