Advisory fuel rates from December 2022
HMRC publish mileage rates, known as the advisory fuel rates, which can be paid tax-free to employees with a company car to reimburse them for the fuel used on business journeys where the employee has initially paid for the fuel. The advisory fuel rates are not the same as the approved mileage payment rates, which […]
Event – 2023 Review of the UK Economy
We invite you to join us for our 2023 Review of the UK Economy on Wednesday 18 January 2023 starting at 8.30am. This session will be held at 30 City Road, London, EC1Y 2AB and will be presented by Rob Elder who is an Agent for the Bank of England. Rob has worked with our […]
Autumn Statement Breakfast at Gravita
The UK Government’s new Chancellor Jeremy Hunt announced his first Autumn Statement on 17 November 2022, and we were delighted to welcome our guests to our Autumn Statement Summary Breakfast event at our 30 City Road office yesterday, 22 November. Our speakers for the morning were Tax Partners, Victor Dauppe and Nigel May. The session […]
The Autumn Statement: what were the big announcements?
It’s felt like a long wait since the last Budget was announced by the former Chancellor, Kwasi Kwarteng, on 23rd September. And there were plenty of hints in the lead up to this statement that there would be tougher times ahead of us. So it was no surprise that Jeremy Hunt’s Autumn Statement was […]
Personal tax changes for 2022/2023
We have several personal tax changes for 2022/2023 which will impact upon us from 6 April. The new tax year has already started. Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country continues to face a cost-of-living squeeze. […]
Video: Direct Payment Schemes (DPNI) – FAQs answered
Meet Rebecca Aimey, Gravita’s Payroll Manager and DPNI expert. At Gravita, we have been helping more and more individuals with DPNI schemes, making sure they meet their payroll and tax obligations. In this short video, Rebecca Aimey shares the answers to those FAQs she gets asked on a daily basis. What is a DPNI scheme? […]
Five things to consider when forming a property syndicate
Although the property market in the UK has seen a downturn in recent years, putting money into property can still be a good choice for those wanting to invest or generate an income. Property syndicates involve a group of investors combining their funds to make a joint investment in commercial or residential property. Here, we […]
Basis period rules in line for reform (sole traders and partnerships)
Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such as sole traders and business partnerships, allocate trading profits to tax years for inclusion […]
New HMRC advisory fuel rates from 1 March 2022
HMRC have published COMPANY CAR ADVISORY FUEL RATES FOR USE FROM 1 MARCH 2022. The rates apply when employers reimburse employees for the cost of fuel for business travel in their company cars or require employees to repay the cost of fuel used for private travel. HMRC review rates quarterly on 1 March, 1 June, […]
Tax benefits of business-owned electric cars
Written by Tax Partner, Michaela Lamb As more and more people choose to buy electric cars over petrol and diesel, employers should be aware of the tax benefits that both they and their people can achieve by using electric vehicles. Helpfully, HMRC are keen on helping taxpayers reduce their “carbon tyre-print” and have in place a […]