What restaurants need to know about the UK’s new tipping law
Written by Outsourcing Partner, Sudhir Rawal What is the Employment (Allocation of Tips) Act 2023? The Employment (Allocation of Tips) Act 2023 came into effect on 1st October. It aims to ensure that hospitality workers receive 100% of tips, gratuities, and service charges. The headline is that the legislation prevents employers from keeping any […]
How do I calculate my part-time employee’s holiday entitlement?
Is holiday entitlement calculated differently for part-time employees? No. Full-time employees are legally entitled to 28 days (5.6 weeks) paid holiday each year minimum, and this can include bank holidays. Part-time employees are entitled to 28 days’ paid holiday, just in proportion to the hours they work. What about bank holidays? If the contract […]
Gravita Audit Debuts in Industrials Sector: A New Milestone in AIM Advisers Rankings
The AIM Advisers Rankings Guide, published quarterly by Adviser Rankings Limited, has released its Q3 2024 results. This comprehensive guide details institutional advisers and their quoted AIM clients, featuring tables that list the number of clients per adviser and another set based on the clients’ aggregated market capitalisations. We are delighted to announce that Gravita […]
Rachel Reeves’ tax updates for non-doms: What you need to know
As expected, the new Chancellor, Rachel Reeves, has now released further details of the changes to the taxation of ‘non-doms’ that will go ahead under the Labour Government. This will see the scrapping of the concept of domicile with a shift towards a residency based system. Many of the proposals made by her predecessor in […]
Why are Dividend Vouchers Important?
What is it? Dividend vouchers are a document given to shareholders of a business when the company declares a dividend to be paid out. They act as evidence of payment but are also very important for those completing self-assessment tax returns. Who is it for? Private and Public companies limited by shares. How […]
What the new Labour government means for you and your business
As the Labour government takes office, we want you to know we’re here to help you navigate the changes that may impact you and your business. Below we’ve covered some of the key areas where we might see changes in the coming months. If you’d like to discuss any of the issues covered […]
Unpacking the 2024 Election Manifestos: What Tax Changes Could Mean for You
With the 2024 election drawing near, understanding the potential tax implications of each party’s manifesto is crucial. Gravita’s comprehensive report below delves into the fiscal forecasts and tax plans outlined by the main political contenders, providing you with essential insights to make informed decisions. Key Highlights from the Report Conservative Party: Abolition of Non-Dom Status: […]
Spot Bitcoin ETFs: A new dawn for bitcoin investment?
On 10 January 2024, the US-based Securities & Exchange Commission (SEC) approved the listing and trading of a number of Spot Bitcoin Exchange-Traded Product (ETP) shares. In a turning point for Bitcoin investment, 11 Spot Bitcoin Exchange-Traded Funds (ETFs) were approved for the US market, opening up a more regulated way for investors to benefit from Bitcoin’s fluctuating […]
Private schools VAT under a labour government: Implications and strategies
Written by VAT Partner, Sandy Cochrane The prospect of VAT being applied to private school fees has generated significant buzz in the media. With a newly elected Labour government, this potential change has become a reality, impacting the families paying for education and the private schools themselves. In this article, we explore the implications of […]
VAT Update on Hotel La Tour Appeal – VAT is not recoverable on share sale costs
Written by VAT Partner, Sandy Cochrane Last week marked the conclusion of the Hotel La Tour VAT case, with the Court of Appeal ruling in favour of HMRC. After facing two prior setbacks, HMRC has now secured a significant win through the Court of Appeal. We await to see whether Hotel La Tour will seek […]