Overseas companies owning UK property (Real Estate)
The UK Register of Overseas Entities was launched on 1st August 2022. This requires overseas companies owning UK property or a trust that owns UK real estate to register with Companies House. The Register has been created under section 3 of the Economic Crime (Transparency and Enforcement) Act 2022. This requires an overseas […]
Video: Restricted Stock Unit (RSU) – FAQs answered
Written by Tax Partner, Michaela Lamb Meet Tax Partner and resident RSU guru, Michaela Lamb. Over the last few years, our tax team have been advising more and more clients on RSUs. In this short video, Michaela shares the answers to those FAQs she gets asked on a daily basis: I’ve been told by my […]
Arram Berlyn Gardner (ABG) becomes challenger firm, Gravita
Arram Berlyn Gardner (ABG) joins Gravita, who are transforming how small and medium businesses in the UK receive accounting services Gravita’s ambition is to build the UK’s leading tech-enabled accounting firm focused on SMEs, and the partnership with Arram Berlyn Gardner (ABG) marks a key milestone in this growth journey. Our tech-enabled client-centric proposition ensures […]
Do I need more than one Director?
By law, every private limited company registered in the UK must have a minimum of one appointed Director that is a natural person (i.e. an individual). Public companies must have a minimum of two Directors. Most company articles contain provisions which do permit sole director decision making; but it is advisable to have another Director […]
VAT changes from 1 April 2022: Use of ‘rebated’ red diesel is much more restricted
Written by VAT Partner, Sandy Cochrane The use of ‘rebated’ red diesel (5% VAT) is restricted to a very small number of industry sectors (including agriculture, horticulture, fish farming, forestry and rail transport). HMRC says that businesses within certain sectors (i.e. construction, mining and quarrying, ports, manufacturing haulage for transport refrigeration units on lorries, road […]
VAT changes from 1st April 2022: End of temporarily reduced VAT rate for leisure and hospitality
Written by VAT Partner, Sandy Cochrane The VAT rate has returned to the standard rate, (currently 20%) for the leisure and hospitality sector. In July 2020, VAT was temporarily reduced from 20% to 5% for the hospitality, hotel and leisure sectors, including on the admission charges to certain attractions. This VAT cut was introduced in […]
Charities and trading subsidiary companies
For charities, setting up a trading subsidiary company can prove to be a very tax efficient way of raising funds. We explore below how this works, when it can be used and how to overcome the pitfalls that might arise. How does it work? Non-primary purpose trading of a charity can be operated through […]
Are you a UK employee with an overseas employer? Payroll, and when to use a DPNI scheme.
Written by Payroll Manager, Rebecca Aimey In a world where employees can set up their ‘office’ from anywhere and flexible working has become ‘the norm’, at Gravita we are helping more and more individuals to make sure they meet their payroll and tax obligations, where they are now technically deemed to be UK resident, but […]
Employment law the US vs the UK
Some of our clients with an overseas parent company and a UK subsidiary have an extra challenge understanding employment law. For example, a US client employing UK employees needs to be aware of US and UK employment right differences. Here are some key differences. Right to an employment contract UK: all employees must be provided with […]
Cryptocurrency update and regulation
Written by Audit Partner, Dan Rose The crypto assets market is still relatively small, but rapidly growing, while many participants are SMEs and start-ups. Since 10th January 2021, all UK crypto asset firms must be registered with the FCA under regulations to combat money laundering. It is a criminal offence to operate without such […]