Webinar: Benefits in kind and remuneration planning in 2023
We invite you to join us at our webinar on 31st May focusing on benefits in kind and remuneration planning. The session will cover the above as well as planning areas such as bonus vs dividends, redundancy planning, salary sacrifice, and the use of employee ownership trusts. The session will be run on Zoom from […]
How to maximise Inheritance Tax relief with hybrid business activity
Written by Tax Partner, Parminder Chattha Inheritance Tax (IHT) is chargeable on the value of an estate when someone dies, although it could also be chargeable on certain lifetime transfers, as well on property held within a relevant property trust. The rate of tax is 40% above a certain exempt amount, and there are various […]
Spring Budget report 2023
Download report Jeremy Hunt announced his second fiscal statement and first Budget since becoming Chancellor against a backdrop of fragile public finances, an ongoing cost of living crisis, and increased Government borrowing. Ahead of time, we expected the Chancellor’s speech – dubbed the ‘back to work Budget’ by the media – to focus on […]
Jeremy Hunt’s Spring Budget 2023: The four E’s
Jeremy Hunt announced his Spring 2023 Budget today, once again returning to his familiar four pillars of growth: Enterprise, Employment, Education, Everywhere. Below are a few of the announcements in today’s Budget Statement, we will add more in our full budget report tomorrow morning which can be downloaded on our website. Energy Government energy […]
Celebrating International Women’s Day
It’s International Women’s Day – a global day of celebrating the achievements of women everywhere. We’re very proud of the work our teams do, and today wanted to spotlight just a few of the many amazing women here at Gravita. They’ve shared their thoughts, inspirations and insights on being a woman in business. “Surround yourself […]
HMRC compliance: More data, more questions
HMRC’s ability to gather and analyse data is extensive, and with every piece of information it acquires, its ability to target compliance activity increases. Input comes from many different sources, national and international – from regulated commercial bodies, like online sales platforms; to government organisations, like the Land Registry. Proposals recently tabled would extend […]
Venture capital tax relief: where are we now?
Venture capital tax relief is all about providing early stage finance to new, higher-risk companies, and rewarding individual investors with generous tax relief for doing so. The venture capital schemes were envisaged as time-limited, and given sunset clauses in the legislation. But the position is now changing. The schemes comprise the Enterprise Investment […]
Year-end tax planning seminar recording
During this year-end tax planning session, Gravita’s Tax Partner, Nigel May, took a look at a number of tax areas. Video recordings found below [41 minutes total]. Nigel covers: The effect of the new 25% corporation tax rate from 1 April 2023 R&D The new basis for taxing self-employed and partnership profits £1M AIA/capital […]
Higher tax bills for sole traders and partnerships?
A change ahead could result in higher tax bills for sole traders and partnerships as the procedure for assessing when trading profits are taxed is changing radically. The change means a major overhaul for unincorporated businesses using anything other than 31st March or 5th April as their accounting date. Businesses with year ends between […]
Company director remuneration takes a hit
Changes announced in the Autumn Statement will be keenly felt by many company directors, especially where profit extraction has traditionally relied on a strategy of low salary and higher dividend payment. The freezing of the income tax personal allowance is one major factor, especially for company directors. This is now set at £12,570 until […]