Blogs from Larking Gowen

Laura Howes discusses tax relief on farming and agricultural buildings and the recent case lost by HMRC.

Alison Smith discusses the most recent announcement about the transition towards Making Tax Digital (MTD) and the likely additional complications (and extra tax charges) on the horizon for many farming businesses.

The first thing you need to understand is that there’s no legal difference between you and your business. Legally, you and your partners are the business.

George explores the pros and cons of the incorporation of a healthcare business.

On 16 June 2021, the UK Government announced that they are in the process of extending certain insolvency measures. The current company insolvency restrictions on statutory demands and winding-up petitions will remain in force for a further three months until 30 September 2021.

March 2021 saw the highest volume of M&A transactions recorded in a single month in the UK, with 653. The fear of a capital gains tax hike, coupled with enhanced confidence of improved economic performance post lockdown, saw the market spike to levels previously unheard of.

An ideal tool to give businesses time post-COVID-19 to return to profitability before clearing debt? Read more here.

The November 2021 report from the Office of Tax Simplification (OTS) on Capital Gains Tax (CGT) looks at areas where the tax could be made simpler, fairer and easier to understand and where specific anomalies could be removed.

As Primary Care Support England (PCSE) is launching a new online Payments and Pension Service from 1 June 2021, our medical accountants have been reviewing the changes and are getting ready to access their clients’ accounts in a different way. Read more about how the launch will impact GP practices.

In May 2021, the Government published a consultation document on the design of execution of the lump sum exit scheme, which would enable eligible retirees from the farming industry to take some of their remaining subsidy payments by way of a single lump sum in 2022. 

On the 30th April 2021, new regulations were introduced by the Insolvency Service relating to the Pre-Pack Administration sales to connected parties. Read more about the details of these regulations here. 

Many GP practices are reporting confusion about 20/21 Quality and Outcomes Framework (QOF) monies, as their QOF achievement reports show lower earnings than they were expecting. Medical expert, Emma Wood, explains why this is the case.