Monday, 08 May 2017

Services to farms and landed estates

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.


Friday, 05 May 2017

Is the role of the accountant becoming redundant?

Making Tax Digital for Business (MTDfB) is a key part in the Government’s plan to modernise the tax system – it is the biggest change in tax adm inistration in decades.

It will affect every business in the UK, including those with rental income, and will change the way that businesses keep their accounting records, report profits and interact with HM Revenue & Customs (HMRC).


Thursday, 27 April 2017

Tourism survey results announced

The region's tourism leaders gathered this week to hear the results of East Anglia's largest Tourism and Leisure Business Survey at two events hosted by Larking Gowen.


Wednesday, 12 April 2017

Incorporating/not incorporating?

Hot on the heels of the Budget, I’m sure the questions being asked by many partners at solicitor practices across the country are, “Should we consider incorporation to obtain limitation to liability or not?” and, “What are the consequences now?”

The majority of the legal practices that we see are predominantly partnerships and partners are looking at how to structure the practice in order to attract and obtain potential future partners.


Monday, 10 April 2017

How does the 2017 Spring Budget affect you?

Much has changed since last year’s Budget, when we were anticipating the EU Referendum and very few people would have predicted that Donald Trump would become US President. We might also have anticipated that George Osborne would still be controlling the purse strings, and that ‘Remain’ had won the day in the Referendum.


Thursday, 06 April 2017

Services to the charity sector

At Larking Gowen we believe charities should have specialist advisors and dedicated charity accountants, which is why we have a specific team for the sector. At Larking Gowen we make a point of taking time to understand our clients’ needs and help you plan for the future.


Monday, 03 April 2017

Charity reserves: building financial resilience

There has been a significant change in the focus of the Charity Commission’s guidance on reserves (CC19 – revised in 2016). The new key messages include underlying steer towards keeping reserves to address risks of ‘unplanned closures’ and to plan for the maintenance of essential services.


Friday, 31 March 2017

National insurance contributions and working overseas

There are proposed changes to the national insurance system which will impact on a number of people, and in particular those who have left the UK to work overseas.

The proposal is that Class 2 national insurance contributions (NIC) will be abolished. Class 2 is £2.85 per week from 5 April 2017 and for UK residents it is normally paid by self-employed people, together with Class 4 NIC, which is charged as a percentage of profits made.


Wednesday, 29 March 2017

Dividend Surprise

There has been much commentary in the last week or so concerning the reduction in the Dividend Allowance. This follows the Chancellor’s surprise announcement in the Spring Budget that this would be reduced to £2,000 from April 2018.


Tuesday, 28 March 2017

Services to medical consultants

Larking Gowen offers tailored packages for more than 160 NHS consultants; for those who run a private practice on a self-employed basis, as well as those who are employed. We can give you general business advice and help you with your personal tax arrangements.


Tuesday, 28 March 2017

Services to GP practices

Larking Gowen’s comprehensive medical accounting, administration and advice services allow health professionals more time to spend on their patients.

Press Release

Monday, 27 March 2017

Larking Gowen celebrates with a fond farewell to two of Larking Gowen’s longest term Partners as they also announce a new chairman

Larking Gowen celebrates with a fond farewell to two of Larking Gowen's longest term Partners as they also announce a new chairman.


Wednesday, 22 March 2017

Tying the knot with your business

Glenn Matthews has been working with new businesses for the best part of five years at Larking Gowen, and having married last year, it struck him how similar the two things can be.


Tuesday, 21 March 2017

National Minimum Wage – risk areas

With the forthcoming change in rates for the National Minimum wage (NMW) I wanted to take the opportunity to highlight a number of risks that may arise for employers.

  1. Paying the incorrect rate

With every NMW increase there is the risk that the increase is not applied in a timely manner to your employees’ pay.


Tuesday, 21 March 2017

Charities’ management accounts: what do they need to show?

Consider a charity which delivers services that are funded through a blend of contracts and grant income. To comply with the Charity Statement of Recommended Practice (SORP), the year end accounts need to recognise income from service contracts to the extent that the service had been delivered, whereas grant income would generally be recognised at the point that the grant was receivable.


Monday, 20 March 2017

Making Tax Digital – charities exempt but trading subsidiaries will be affected

The Government has confirmed that it will introduce legislation to exempt charities from all but the VAT requirements of Making Tax Digital. This is welcome and will protect smaller charities and those with limited digital capability.


Thursday, 16 March 2017

Services to academies and free schools

Our specialist team will support you throughout the process of converting to academy status and beyond. We will guide you through the complexities of forming a multi academy trust and, once established, we will offer ongoing support.


Tuesday, 14 March 2017

Farmhouse Bed & Breakfast – Increased rent-a-room allowance

Running a Bed & Breakfast business from your farmhouse can introduce some diversified income into the family and make use of some unused bedrooms.

Such an enterprise can also be tax-efficient. A farmhouse Bed & Breakfast business qualifies for the rent-a-room allowance, which has increased to £7,500 per annum from 6 April 2016. The allowance is halved if you share the income with your partner or someone else.


Thursday, 09 March 2017

Budget 2017 – What it means for the Not for Profit Sector

With the vast majority of measures already being announced, and with very few sector specific announcements, there were no real surprises for the Not for Profit (NFP) sector in the 2017 Spring Budget. Read more to find out what changes were made and how this will affect you. 


Monday, 06 March 2017

Big Brother is watching you

The latest organisation to harness the power of the internet is HM Revenue & Customs (HMRC), who have spent several years and a significant amount of money on systems designed to identify those who may have paid too little tax. Leading up to the latest tax return filing deadline of 31 January 2017, the system was fully deployed for the first time.


Friday, 03 March 2017

New ‘Transactions in Land’ legislation

After months of waiting and a lot of speculation, HMRC have finally published their guidance on property development tax and the new ‘transactions in land’ legislation that was introduced in the Finance Act 2016.


Tuesday, 21 February 2017

New tax allowances for micro-entrepreneurs

From April 2017 taxpayers will be able to take advantage of two new allowances, aimed at reducing the burden (of both tax and administration) for those making small amounts of money. HM Revenue & Customs (HMRC) refer to this group of taxpayers as ‘micro-entrepreneurs’.


Tuesday, 21 February 2017

Helping new businesses to network

At Larking Gowen we help new businesses start up and flourish by being there to support them and by providing practical business advice. We also help to arrange networking events for new businesses so that they get to meet with likeminded entrepreneurs and other businesses at the start of their journey in order to share experiences and advice.

Press Release

Wednesday, 15 February 2017

Larking Gowen accountant finishes top of global class of 5,000

Congratulations to Lauren Day, who has been awarded the ACCA (Association of Chartered Certified Accountants) Gold Medal for the highest global score attained over the final tier of five professional exams.


Friday, 10 February 2017

How effective is finance reporting to your charity board?

With MHA, we have created Keeping Your Charity on the Right Track, a 12 month programme to help you improve your organisational governance in a stepped and measured way.  Each month’s article covers an area of charity governance for review and leads you through good practice.


Monday, 06 February 2017

Why should you stress test your business?

We often hear that the banks are being stress tested to determine their ongoing viability. Do you just assume that this is ‘economics’ that goes way over our heads? Actually, we can apply similar principles to all types of business. It involves applying systems to identify potential problems, however extreme or unlikely, and then devising strategies to minimise or alleviate their effect


Friday, 03 February 2017

How effective is your charity board?

To be effective, charity board members must fully understand their role. This includes what they should be involved in, where the boundaries are and when they should delegate to allow management the space to run the organisation.


Wednesday, 01 February 2017

Employment FAQs

With the end of the tax year on the horizon, employers are starting to think about the year-end reporting requirements (and if not, perhaps should be) so I thought this the ideal time to share some FAQs.


Wednesday, 18 January 2017

HMRC’s database increases risk of tax investigation

Over 80% of all tax investigations undertaken by HMRC now follow potential leads generated by its £45 million database system, Connect, according to recent reports. The new reliance on automated systems to identify targets means that taxpayers could face an increased risk of investigation, simply for having their name thrown up by HMRC algorithms.


Friday, 13 January 2017

VAT on search fees

When acting for a potential buyer in respect of a property purchase, it is normal for a solicitor to engage with a third party to conduct searches. These will determine whether any restrictions apply over the property, and provide other relevant information of interest to the buyer.


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