Tuesday, 02 January 2018
There are more and more schemes and scams by fraudsters to get hold of your money. Read on for an example of how your practice could be targeted, which has already worked on other practices in professional services, as well as suggestions on how to improve your security.
Tuesday, 05 December 2017
When the Entry Level Schemes ended in 2014 the replacement Countryside Stewardship arrangements were disappointing. A new and simplified initiative launched at the end of November is therefore welcome. Read more about this scheme and why this is good news for farmers.
Monday, 27 November 2017
Last week the BBC reported on the fall in the number of workers starting apprenticeships and suggested that the Government's apprenticeship levy is to blame for the 59% drop. Read our blog to see how this affected one local business.
Friday, 24 November 2017
With Christmas fast approaching, you may be getting caught up in the spirit of giving and considering how best to make a goodwill gesture. To help I’ve provided a brief summary of the types of gifts you may want to give to your employees and the tax implications.
Wednesday, 22 November 2017
VAT is a complex area for charities and one which is easy to get wrong. Get it wrong and it could result in project underfunding or missed opportunities to claim reliefs.
As charities grow and develop, activities and income streams change. It’s always important to consider the VAT implications of actual and proposed changes.
Tuesday, 21 November 2017
The main topic of discussion following publication of the Office of Tax Simplification’s (OTS) report regarding the future of VAT has been the level of the registration threshold. At present a business must register for VAT when its taxable turnover exceeds £85,000 – the highest in the EU.
The report has even prompted rumours that the Chancellor of the Exchequer is due to decrease the limit to as little as £20,000 in tomorrow’s Budget.
Tuesday, 14 November 2017
When VAT has been overpaid or under-claimed by a taxpayer and the blame lies with HM Revenue & Customs (HMRC), section 78 of the VAT Act 1994 allows for the payment of interest in order to compensate.
Friday, 10 November 2017
The stubborn insistence by HM Revenue & Customs (HMRC) that all company directors must file a Self Assessment tax return has been a point of discussion in practices for many years.
Tina Barton, specialist in personal tax issues, discusses HMRC’s online guidance “Do you need to complete a tax return?” and answers the question of whether a tax return is required.
Thursday, 09 November 2017
A 2017 UK government survey indicated that 46% of all UK businesses had suffered a cyber security attack or data breach in the previous year. Furthermore, 60% of those businesses stated that the attacks had adversely affected their businesses.
If you include businesses that were unaware of breaches and attacks, this adds up to a very real threat to all businesses and organisations that cannot be ignored.
Tuesday, 07 November 2017
Simple Assessment is HMRC’s latest brainchild intended to remove the burden of completing a Self-Assessment tax return.
From September 2017 HMRC will remove the need for some customers to complete a tax return. To find out more about these changes and how this may affect you read our full blog.
Tuesday, 07 November 2017
Well known regional professional services firm Larking Gowen Chartered Accountants launched their new brand to the outside world on Monday 6 November.
Monday, 06 November 2017
Larking Gowen is delighted to announce that it has appointed Anders Rasmussen as a new Partner joining their corporate team on Monday 6 November.
Former Corporate Partner for Grant Thornton, Mr Rasmussen was born and educated in Norfolk and attended the University of Birmingham. He joined the Norwich practice of KPMG in 1988 and then moved to Grant Thornton in 2000.
Monday, 16 October 2017
There’s no doubt that cyber security is a significant threat to all charities. Despite this, a typical charity only spends a quarter of what a similar size business would spend on cyber security. A successful cyber-attack can leave a charity open to blackmail and ransom demands and can result in financial losses and reputational damage. However, some of the essential protections that can be put in place are neither expensive nor complicated.
Friday, 13 October 2017
Calculating holiday pay used to be a fairly simple calculation, based on the hours and rates as set out in the employment contract. However, a recent employment tribunal decision in Dudley Metropolitan Borough Council v Willetts held that voluntary overtime can amount to ‘normal remuneration’ for the purposes of calculating holiday pay. This will mean an increase in the complexity of the calculation and the payments due.
Wednesday, 11 October 2017
We are very pleased to be sponsoring the Entrepreneur Award at the Norfolk Youth Awards, which will be held in February by Open Youth Trust. These awards are designed to highlight young people’s astonishing achievements and to give them the recognition and encouragement they deserve.
Tuesday, 10 October 2017
Running a shoot can be very enjoyable, although it does come with a number of pressures. Making sure that there is enough healthy game and praying for the right weather conditions are just a couple of worries faced, and then there are the financial commitments…
Monday, 18 September 2017
Summer seems to go by quicker every year, and it’s hard to believe that the children have already been back at school for a couple of weeks. Now they’re rested they can continue their journey to fulfilling their potential, and it could be the same for your business.
Friday, 15 September 2017
The Charity Commission has highlighted concerns over the level of fraud and mismanagement in the charity sector.
Trustees have overall responsibility for governance and for safeguarding the charity’s assets. Trustees should therefore be alert to fraud, understand what it is and how it may affect the organisation.
Thursday, 14 September 2017
73% of businesses in East Anglia experienced growth in 2016, up from 66% of sampled businesses seeing growth in 2015. The outlook for 2017/18 remains optimistic, with 84% of respondents in the region predicting growth of some kind for their business and 22% expecting this growth to be in excess of 10%. Naturally, there remains a nervousness surrounding the outcome of ongoing Brexit negotiations and how these will impact UK businesses.
Wednesday, 06 September 2017
What are internal controls and why are they important?
Trustees have a duty to safeguard charity assets and to make sure resources are used wisely. A good system of internal controls is key to this. Sound internal controls can reduce the risk of loss through theft, fraud, bad decisions or error.
Tuesday, 05 September 2017
At Larking Gowen we have over 300 employees across nine locations and ensuring their mental wellbeing is a very important part of our core values.
We are training managers to support staff and identify any issues that may arise in their day- to-day lives that affect their wellbeing. All of our staff have access to a confidential, free, 24 hour support helpline covering many different services including mental health issues, family issues, gambling, financial pressures, stress, and housing, to mention just a few.
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