Schedule 36: HMRC’s power to obtain information explained
Written by Tax Partner, Dion Laycock Under Schedule 36 of the Finance Act 2008, HMRC has the authority to request information from taxpayers to ensure tax compliance. This wide-reaching power allows HMRC to check an individual’s or company’s tax position, whether for routine checks or more in-depth investigations. Here’s an in-depth look at what Schedule […]
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 […]
Gravita appoints Corporate and International Tax Partner Fiona Cross
Top 30 accountancy firm Gravita appoints Fiona Cross and releases data on gender diversity at Partner level. LONDON, [22 November] 2024: Top 30 accountancy firm Gravita has bolstered its team with the appointment of Corporate and International Tax specialist, Fiona Cross. Fiona brings several decades of experience at Partner level in tax advisory, working […]
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 outside […]
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 […]
Demystifying COP 8, COP 9 and ADR: What are they, when do they apply, and how do they work?
We invite you to join us and Gravita Tax Investigations Partner, Dion Laycock, at our webinar on Wednesday 4 December 2024 at 9:00am. During the webinar, Dion will be covering: Code of Practice 8 (COP 8) and Code of Practice 9 (COP 9): Tax investigation cases handled by the Fraud Investigation Service (FIS) Who are […]