Blogs from Larking Gowen

HMRC have increased their investigations into inheritance tax.

Let’s face it, selling a business is often the most important deal a business owner will ever be involved with, so it’s vital to get the right support to achieve a successful outcome.

New rules on pricing transparency for solicitors have been published, and come into effect on 6 December 2018. The rules have been put in place following recommendations from the Competition and Markets Authority. Firms that fail to meet the requirements could face disciplinary action.

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?