Could it be time to revive proposed Inheritance Tax reforms?
Written by Tax Partner, Michaela Lamb Over the last couple of weeks there has been speculation in the press that the Chancellor could look to make further changes to Inheritance Tax (IHT) in addition to the soon to be introduced changes to Business Property Relief (BPR) and Agricultural Property Relief (APR) and in relation to […]
Update on proposed reforms to APR and BPR
Written by Tax Partner, Michaela Lamb Following this year’s Spring Budget, HMRC have now concluded their consultation into the (unpopular) proposed reforms Business Property Relief (BPR) and Agricultural Property Relief (APR), with draft legislation finally being released last month. Both documents have been highly anticipated by those trying to make plans to minimise the impact […]
Understanding the Temporary Repatriation Facility for individuals with overseas income and gains
Written by Tax Partner, Dion Laycock The UK’s Autumn 2024 Budget introduced significant reforms affecting individuals with overseas income and gains, shifting from a domicile-based system to a residence-based taxation approach. A cornerstone of these reforms, effective from 6th April 2025, is the Temporary Repatriation Facility (TRF). Designed as a transitional measure, it is available […]
Spring Statement 2025: Gravita’s review
Written by Tax Partner, Michaela Lamb After the Chancellor’s announcement that she would not be making any sweeping tax changes in her Spring Statement this year, it should not have come as a surprise that she really did not. The Spring Statement was definitely not a “Budget” as we have come to expect. It was […]
Hub: The UK Budget
Welcome to Gravita’s Budget hub; your go-to resource for clear, insightful information on the latest developments from the Chancellor’s statements. Here, you’ll find expert analysis, practical guidance, and easy-to-follow summaries of the Spring Statement, Autumn Budget, and important changes affecting your finances, business, and sector. Stay informed, plan ahead, and explore what these announcements mean […]
Spring Statement 2025: What to expect and what we’d like to see
Written by Tax Partner, Ian Timms Following on from the eventful Budget in the Autumn, Rachel Reeves will deliver her Spring Statement on 26th March 2025. The Autumn Budget introduced £40 billion in tax increases, so we are all hoping for less of a ‘splash’ this time and given the governments comments that there will […]
Spring Statement 2025: What the Government’s proposed ISA reforms could mean for your savings
Written by Private Client Associate Director, Liz Higgins Chancellor Rachel Reeves has made it clear that boosting the UK economy is high on her agenda. One area in the spotlight is Individual Savings Accounts (ISAs). If you currently hold an ISA, or you’re thinking of opening one, you may be wondering what the proposed changes […]
What’s happening with Employers’ National Insurance contributions?
The Autumn Budget has dealt a blow to UK employers, with a sharp increase in Employers’ National Insurance (NI) contributions coming into force from April 2025. The rate employers will need to pay rose from 13.8% to 15% while the secondary threshold dropped to £5000, from £9100. With companies already navigating cost pressures and a […]
A guide to inheritance tax planning
Inheritance Tax (IHT) has remained largely unchanged for a long time now, despite an extensive review of the system pre-Brexit which hinted at wide-reaching changes. These never came to pass, and therefore the changes in the Autumn 2024 Budget are probably the most significant amendments in many years. What Changed? The biggest change announced was […]
Understanding the new rules for non-doms in the UK
The Autumn 2024 Budget introduces some of the most sweeping changes for non-doms in recent years. We are now moving to a tax residence-based system and away from the concept of domiciliation. For many years, UK tax rules have meant that non-doms do not have to pay UK taxes on income and gains arising […]