Blogs from Larking Gowen

The trust registration service (TRS) last year caused all sorts of issues. So, we’re disappointed that the scope of the existing Trust Register is to be extended in 2020 by yet another EU directive.

HM Revenue & Customs (HMRC) collected £832 million in extra tax through investigations into inheritance tax, charitable donations and trusts last year. This shows how HMRC are approaching non-compliance from all possible angles and, as a result, almost all taxpayers are at risk of investigation from the taxman.

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.

Have you noticed that a number of legal firms are changing or talking about changing their structure and have you wondered why? From the conversations we’ve had with legal firms, there seem to be several reasons.

Place yourself in a buyer’s shoes; what aspects of your business really stand out and make it attractive for them to buy? It could be such things as intellectual property, product or service benefits, locations, brand and reputation, price point, market knowledge and customer service levels.

Are you confused and befuddled by the talk of cryptocurrencies?

In my previous blog, I discussed how a legal firm could fall foul to CEO fraud through information fraudsters can find on social media sites. In this update I’m going to look at another scheme that members in a legal firm can be tricked into.

It’s not unusual for buyers to identify specific sellers and make offers. This is known as an off-market approach. It is often flattering for a seller, who may have not been thinking about a sale but is intrigued to explore it further.

In the lead-up to 5 April each year there are plenty of employment tax issues to be thinking about, both in relation to reporting requirements for the tax year now ending as well as the legislative changes going forward. One area that employers need to consider is that of employment related securities.

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 Finance team at Larking Gowen.

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.