Changes to Inheritance Tax on private pensions
The new Labour government recently announced a series of changes, including one that will impact how private pensions are treated for Inheritance Tax (IHT) purposes. From April 2027, private pension pots will be included in the value of an individual’s estate when calculating their IHT liability. This could significantly increase the IHT charge on estates, […]
Big changes ahead for Inheritance Tax relief on businesses
The long-standing ability to pass on family businesses without worrying about Inheritance Tax (IHT) is coming to an end on 6th April 2026. For as long as I can remember, Business Property Relief (BPR) has allowed individuals to transfer trading businesses to the next generation free of IHT, allowing family-owned businesses to carry on from […]
What the Autumn Budget means for the tech sector
Written by the Head of Gravita’s Technology Sector, Ben Chernoff The Autumn Budget 2024 has brought a wave of changes that will impact the tech sector. From adjustments in employer costs to the increase in Capital Gains Tax (CGT) rates, these changes are set to reshape the financial landscape for tech companies and their employees. […]
Changes to Inheritance Tax for Farmers
Agricultural Property Relief (APR) and Business Property Relief (BPR) have long been crucial for farming families, helping to protect them from having to sell parts of their farms to pay Inheritance Tax (IHT) when the farmer passes away. These reliefs have allowed family farms to be passed down through generations without triggering a major IHT […]
2024 Autumn Budget Insights – changes to Inheritance Tax on AIM shares
Written by Tax Partner, Michaela Lamb For many years, investing in AIM shares has been a staple in the IHT planning armoury, almost a magic bullet one might say. This is because historically, AIM shares have qualified for Business Property Relief (BPR), providing 100% IHT relief and after only two years of qualifying ownership […]
What the Finance Bill 2024-25 means for the Furnished Holiday Lets (FHL) Tax Regime
As announced earlier this summer, the Finance Bill 2024-25 will confirm that the Furnished Holiday Let (FHL) tax regime will be abolished. Starting in April 2025, income and gains from FHLs will be treated as part of a person’s regular UK or overseas property business. Historically, FHLs enjoyed more favorable tax treatment compared to other […]
What does the Autumn 2024 Budget mean for the UK’s hospitality industry?
Written by Outsourcing Partner, Sudhir Rawal The 2024 Autumn Budget has landed, and for the UK’s hospitality sector, it spells a more challenging time ahead. Rising costs from wage increases, National Insurance changes and reduced rate reliefs are set to squeeze budgets even further. With these updates, businesses across the industry will feel the strain. […]
Gravita’s Budget Webinar summary
Last week, we hosted Gravita’s Budget webinar where we shared insights from the first Labour Budget, focusing on key areas of interest including succession planning, replacement of the non-dom regime, exit strategies, and inheritance. For those with business interests, shares, or property assets, the evolving landscape has introduced significant complexity. Additionally for those who are […]
Gravita’s Autumn Budget Report 2024
14 years is a long time to wait, and the Chancellor kept us waiting for some time before she got down to the nitty gritty. One of the most hotly anticipated Budgets in recent years started with an announcement that it will raise £40 billion in tax, with the money used to “invest, invest, invest”. […]
Gravita’s Autumn Budget Highlights 2024
Written by Tax Partner, Michaela Lamb Although it feels that we say it every time, surely with a new Chancellor, a new Government and a reported £22billion hole in UK finances, today’s Autumn Statement really has been the most hotly anticipated Budget of recent years? With Rachel Reeves keeping (relatively) tight lipped until the big […]