Insights

Blog

Tuesday, 05 September 2017

Wellbeing in the workplace

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.

Blog

Monday, 21 August 2017

National Minimum Wage in the Hospitality Sector

The recent report carried out on Modern Working Practices has seen the Hospitality sector identified as one where a significant proportion of the workforce are on, or close to, the minimum wage.

It is all too easy to inadvertently fall foul of the National Minimum Wage (NMW) and National Living Wage (NLW) rates and with the repercussions for doing so quite severe, including naming and shaming, it is important to review this on a regular basis.

Blog

Monday, 07 August 2017

What is the right price for farmland?

Land, of any sort, is difficult to value. As accountants we are often required to value assets of one sort or another, and various tools have been developed to do so. However, none of these tools is particularly helpful when we look at agricultural land. Rental yield, when you take out some management costs, is miniscule, and there are many uncertainties, of which Brexit is only one.

Blog

Monday, 07 August 2017

Making Tax Digital – Government delays plans

We have seen some unusual political times over the last few years and these have produced uncertainties for the many small businesses that are the lifeblood of the UK economy. I have written recently about Making Tax Digital (MTD) and how this would have a significant impact for these small businesses, including those with rented properties.

Blog

Friday, 28 July 2017

The Taylor Report’s impact on the Tourism, Leisure & Hospitality sector

On 11 July, the Taylor report, an independent review of modern working practices, was released. This review considers the implications of new forms of work on worker rights and responsibilities, as well as on employer freedoms and obligations. It sets out seven principles to address the challenges facing the UK labour market.

Blog

Friday, 21 July 2017

Corporate criminal offences

The Criminal Finances Act has introduced a new corporate criminal offence of ‘failure to prevent the facilitation of tax evasion’. The offence is expected to be enforceable from September 2017.

Although this new offence doesn’t change the existing laws on tax evasion or the facilitation of tax evasion, it does make it easier to prosecute companies or partnerships (relevant bodies).

Blog

Friday, 21 July 2017

Accounting changes for Academies – 2017

Following the end of election purdah restrictions, the Education and Skills Funding Agency (ESFA) has issued its annual revision to the Academies Accounts Direction (AAD) 2016 to 2017, which will determine the format of accounts prepared by Academy Trusts for the year to 31 August 2017.

Blog

Friday, 21 July 2017

How to create impactful reports for your charity

Communication with the outside world has never been more important. Making sure you successfully communicate what you are doing and the difference you make to your beneficiaries can mean the difference between future funding being awarded or not. You should communicate not just how funds are spent, but the impact it has, that is, the public benefit you deliver.

Blog

Friday, 21 July 2017

Making Tax Digital – an update

You may have heard that the Government recently announced a new timetable for Making Tax Digital (MTD).

Originally, the start date for many businesses was April 2018, however, they will now not be asked to keep digital records, or update HMRC quarterly, until at least 2020. This applies to all taxes except VAT. Businesses with a turnover above the VAT threshold (currently £85,000) will still have to keep digital records for VAT purposes from April 2019.

Blog

Monday, 17 July 2017

Who owns what?

Most landowners know exactly what the family owns, including the finer details of boundaries, tenancies and history. However, they may be less clear about exactly who owns which property and what’s on the business balance sheet. It’s not uncommon for someone to think they own land when in fact it’s still held in the names of grandparents’ executors, or for them to think it’s owned jointly with a spouse when that’s not the case.

Blog

Wednesday, 12 July 2017

The state of UK agriculture

The annual government report on agriculture has recently been issued. At 110 pages it is not easy reading, but it certainly sheds light on an industry which we, as accountants, normally only observe on a piecemeal basis.

Blog

Tuesday, 11 July 2017

The new rules are coming…

Recently the Solicitors Regulation Authority (SRA) released a consultation on the new rule book and code of conduct, which currently sit at over 430 pages combined. The consultation closed on 30 September 2016.

In June 2017, the SRA released the outcome of the consultation together with their take on the comments received. They highlight that the result showed overall support of the changes that had been included, although there had been differing opinion on some of the detail.

Brochure

Monday, 10 July 2017

Services to independent schools

Independent schools face many challenges, not least the pressure on fees, rising parents’ expectations and the need to deliver public benefit. We have decades of experience working with independent schools in East Anglia and can help you with a full range of services.

Blog

Wednesday, 05 July 2017

Invest in yourself

Larking Gowen has been running a trilogy of business breakfasts on the theme of ‘How to make business fun, fulfilling and financially rewarding in 2017’. In June we presented part 2: ‘Invest in yourself’, and I thought that I would share some of the presentation with you.

Blog

Friday, 30 June 2017

Unannounced HMRC visits – important advice

Each year thousands of UK businesses receive a visit from HMRC. The vast majority are made through official appointments. However, increasing numbers of businesses are finding HMRC are making unannounced visits. If this happens to you, it is very important to know your rights.

Press Release

Thursday, 29 June 2017

Larking Gowen launches Employee WellBeing programme

East Anglian firm, Larking Gowen, launched its Wellbeing programme with a Wellbeing week across the firm’s nine offices. The Wellbeing Programme has been introduced to support employees to achieve positive health and wellbeing in their work and personal lives. A range of activities, information, benefits and sources of support were available to promote physical, mental, social, community, financial and career wellbeing and employees were encouraged to participate in as many as they wished.

Blog

Thursday, 29 June 2017

New Data Protection Regulations – Are you ready?

Data protection has always been considered a key concern for big business. High profile data breaches in recent years highlight the scale on which data is now gathered and the risks inherent with collection of data en masse.

Blog

Wednesday, 21 June 2017

Networking doesn’t need to be scary

You’ve started your business, you’ve perfected your offering, now all you need to do is find someone to buy from you. Social media is an effective way to promote yourself, so why bother to network?

News

Wednesday, 21 June 2017

Release of second annual motor dealer survey

For the second year, chartered accountants and business advisors Larking Gowen, as part of the MHA motor specialist advisory team, has conducted a study to understand more about the issues and challenges that dealerships face. Larking Gowen is pleased to be part of the MHA association of UK-wide independent accountancy firms who have just released their second annual survey to motor dealers.

Blog

Monday, 19 June 2017

2017 Legal Benchmarking Report – How does your firm compare?

The fifth MHA Legal Benchmarking Survey has recently been published. This year has been a positive one for most sizes of legal firms but they must make sure that they are profitable and efficient to stay competitive.

While our report reveals that the sector is in good financial health, with performance in 2016 pointing to a positive outlook for the future, firms continue to face a challenging environment.

Blog

Monday, 12 June 2017

Is your charity making the most effective use of its assets?

Charity trustees have well known duties of stewardship, which means ensuring that resources are used for charitable purposes and are not put at risk unnecessarily. There is also, of course, a duty to use them effectively.  Three areas to consider are:

  • Investment
  • Banking
  • Property

Blog

Friday, 09 June 2017

Another Cloud on the Horizon

Now that we are in the new financial year it is perhaps a good time to consider the financial state of the agricultural industry in the UK. “Fragile” is a good word to start the assessment. Commodity prices have picked up over the last six months, but much of this is simply a currency movement following the Brexit vote and even so there is still relatively little margin when wheat stands at under £140 for harvest.

Blog

Monday, 05 June 2017

Larking Gowen Tourism Survey Results

February marked the 75th anniversary of American troops arriving in the UK during the Second World War. The arrival of thousands of American personnel to the east of England changed the region forever. By 1943 there were more than 100,000 US airman based in Britain, mainly in East Anglia.

Press Release

Thursday, 01 June 2017

Following a year of fundraising for their two chosen charities Larking Gowen announce a great result for CLIC Sargent and Alzheimer’s Society

The major regional independent chartered accounting partnership and one of the UK’s top 40 accountancy firms, Larking Gowen has this month announced a great result supporting two of the UK’s leading charities, CLIC Sargent and Alzheimer’s Society.

Press Release

Thursday, 01 June 2017

Larking Gowen to continue sponsorship for the New Wolsey theatre's creative learning programme

The New Wolsey Theatre are pleased to confirm that Larking Gowen are to continue supporting the theatre’s busy Creative Learning department in their delivery of outreach, community and schools work and have now committed to supporting the theatre for the next 3 years. 

Blog

Friday, 26 May 2017

Making Tax Digital – how cloud accounting can help your business

HMRC have announced that by 2020 they expect all businesses to upload their profit and loss quarterly and electronically. Though we are still awaiting the details of how the logistics of it will work, two things are sure:

  • it is definitely going to happen; and
  • having a cloud accounting system in place will make this as easy as clicking a button.

Blog

Friday, 26 May 2017

Charity strategic planning – think about tax!

Charities are certainly adapting to changing funding environments. In seeking to reduce reliance on grant funding, many charities have looked to increase enterprise trading and charging for services. But the tax impacts of developing new opportunities and even delivering the same services under different arrangements have sometimes been overlooked – these need to be on a charity’s radar.

Brochure

Thursday, 25 May 2017

Services to the legal profession

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.

Blog

Friday, 12 May 2017

Finance Bill 2017 – all change?

Finance Bill 2017 has now been passed, but with only 148 of the original 762 pages. Almost 90% of the tax legislation we were expecting to be passed has now been delayed. So what has changed?

In short – the general election. As Parliament was dissolved on 3 May in advance of the election it was agreed to hold over much of the more complex technical legislation. 

Blog

Wednesday, 10 May 2017

Spring clean your financial controls

With large sums in their office and client bank accounts, and access to sensitive information about their clients, legal firms are an attractive target for fraudsters.

Moreover, fraudsters’ methods are becoming more varied and sophisticated. Can your firm’s financial controls combat fraud, or do they need a ‘spring clean’?

Newsletter

Sign up to receive the latest news from Larking Gowen