Insights

LG Corporate Finance is delighted to announce that its manager, Jack Minns, has achieved the Corporate Finance Diploma. The team, who are specialists in helping clients buy, sell, value and fund SME businesses, forms part of East Anglia based firm of chartered accountants, MHA Larking Gowen.

At MHA 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 MHA Larking Gowen we make a point of taking time to understand our clients’ needs and help you plan for the future.

While business owners are experts in running their businesses, the sale or acquisition of a company is a complex, strategic, financial and legal process that should not be underestimated. For such a crucial financial transaction, it is always best pursued with highly skilled financial and legal professionals by your side.

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.

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. 

MHA Larking Gowen assisted in the successful sale of a 100%interest in MGP Electrical, enabling the owners to enjoy a well-deserved retirement in the knowledge that their loyal employees’ jobs were preserved and their customers would continue to be serviced to the high level they had become accustomed to.

Assisting the Directors of Funeral Planning Services Limited in the sale of the business goodwill, trade and assets to Ecclesiastical Planning Services Limited

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.

MHA 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.

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

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

Get to know our team better! Every few months we will bring you a snapshot of one of our team members. This month we feature Corporate Finance Partner, James Lay. James has been with MHA Larking Gowen for nearly 20 years – one of many long-standing figures within the firm.

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

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.

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.

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.

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.

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. 

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.

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.

Mainguard Associates Limited provides informed, driven interim leadership and management support for a variety of large scale construction projects including high profile projects such as HS2.

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’.

At MHA 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.

Some of you will be well versed in the process of buying a business, but even the most experienced acquirer can still need a helping hand from a third party to offer a more independent and objective view.

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.

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.

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.

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.

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.

When contemplating the sale of your company, an area that will add value is a solid second tier management team. This is essential not only for the purpose of a sale but also for the smooth-running of a growing company.