Insights

By now, everyone will have seen the reports about Oxfam, and the resulting damage to its reputation. Donations to Oxfam have certainly been hit but it appears that donations to charities in general may fall as the public’s mistrust of charities increases.  

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

With Christmas a distant memory, and January and February out of the way, we can look forward to spring with renewed optimism. The depressing dark days are behind us and we’ve got over ‘Blue Monday’. What else can we do to brighten the outlook? What do you need to start thinking about in terms of tax affairs?

Is your firm’s cash under strain? Are you hoping to invest in improvements but don’t have the ready cash? Do you have a retirement looming? What are your options?

The General Data Protection Regulation (GDPR) is coming. Are you ready?

We are looking for feedback from hundreds of tourism, leisure and hospitality businesses across Norfolk, Suffolk and Essex.

Good planning for the year end will make sure your company pays no more tax than it needs to.

With charities under increasing public scrutiny, there is added pressure to be seen to be ‘doing the right thing’ by potential donors. The recent high-profile allegations against the Presidents Club have resulted in some charities returning donations received from the Presidents Club Charitable Trust.   The Charity Commission has issued a news story on this area called Returning Money to Charities.

The Museums and Galleries Exhibition tax relief (MGETR) is now law and fully in effect. HMRC have updated their guidance so we also know more about how it works.

New small grants government initiative announced for farmers – claim window 7 February – 14 March 2018

Trustees have a duty to safeguard charity assets and to make sure resources are used wisely. A good system of internal financial controls is key to this. Sound internal financial controls can reduce the risk of loss through theft, fraud, bad decisions or error.

The results have just been released for the levels of business sales in 2017 and, despite a national 5.5% downturn in the number of completed deals, 2017 proved to be another busy year for the Corporate Transactions team at Larking Gowen.  

Changes to accounting rules – will your charity need a deed of covenant?

Charities with subsidiary companies need to understand changes to accounting rules that were announced by the Financial Reporting Council in December 2017. They may have to create a deed of covenant to allow the accounts to show the gift of that year’s profits from subsidiary to the parent charity.

Welcome to our 2017 review. In this issue we're pleased to include an article on Jeremy Buxton which we're sure you'll find interesting. Jeremy’s family have been long-term clients of this firm and it has been a great privilege to help them through the generational changes and see their business develop and prosper. 

We are pleased to announce that our 12th annual Tourism and Leisure Business Survey is live.  

Now in its 12^th year, the annual tourism and leisure business survey asks all business from the tourism, hospitality and leisure sector to join forces and take part.

The EAT Suffolk Food & Drink Awards 2018 are now open for entries! We're proud sponsors of the 'Best Independent Food & Drink Retailer' category. Awards are open for entries until midnight 4 March visit www.suffolkfada.co.uk for more information.

Recognising the work The Charity Commission is undertaking to upskill both trustees and increased standards and governance throughout the sector, we have focused our 2018 publication on trustees.

With MHA we have created 11 Key Steps for Trustees, 1 Giant Leap for Your Charity.  Each month we will look at a different issue, month 1 focuses on the recruitment of trustees.

How can professional firms manage change? Read our blog and access a simple self-assessment matrix to see if your organisation is ready to face change.

The UK construction giant Carillion was placed into compulsory liquidation on 15 January 2018, threatening the jobs of more than 43,000 employees worldwide. Could this affect your business?

The aim of a rebrand is to breathe new life into a business or product, but it has to be done with a real focus on strategy.

What is a brand and how can you create a new brand? What unique challenges do small businesses face in developing or updating a brand?

OMG it’s January and my tax return isn’t done! If you need to submit a tax return for 2016/17, the deadline is 31 January. Miss the deadline and you will receive an automatic penalty of £100. Don't despair though - we can help.

For many small businesses the Flat Rate Scheme (FRS) can simplify VAT reporting procedures. However, there are potential pitfalls. Read our blog to see if FRS is suitable for you and how to avoid the traps and penalties.

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.

For a full list of the services we offer and how we can help, download our 'our services' brochure. 

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.

A recent Law Gazette report stated that artificial intelligence and automation will result in 67,000 jobs being replaced by 2038. How will this affect the legal sector?

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.

Ashley Smith shares a blog from MHA MacIntyre Hudson regarding the impact this week's Budget has had on farms and agriculture.

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.

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.