Saving money during the quieter months of 2023
Many businesses will have gone into 2023 with scepticism. Against the backdrop of a cost of living crisis, rising energy bills and more, saving money during the quieter months of the year has never been as important. This doesn’t mean taking any drastic measures, but more considered efforts to focus on the parts of […]
How to build an effective business plan
Something we are often asked is how do you go about building an effective business plan? In this blog post we take a look at some of the methods you can use to identify the risks ahead of time. Businesses at any stage in their life cycle can benefit heavily from creating and implementing […]
New VAT Penalties System
After many years HMRC have revised the VAT penalty regime for late submission and payment of VAT returns. The new regime applies to VAT return accounting periods beginning on or after 1 January 2023, so the first monthly return affected will be 1 Jan – 31 Jan 2023, and the first quarterly return 1 […]
Year-end tax guide 2022/2023
Download guide With many extraordinary tax years in the modern era, it seems 2022/23 has been no different. While 2020 and 2021 saw the heights of the pandemic, 2022 saw a surge in inflation mainly due to the continued supply chain issues after Covid, Russia’s war on Ukraine and rising energy prices. Arranging your […]
Corporation tax from 2023
How will the April Corporation tax rise affect SMEs? After multiple policy U-turns and much uncertainty, the main rate of corporation tax will rise from 19% to 25% from 1 April 2023, affecting companies with profits of £250,000 and over. The legislation provides that small companies with profits up to £50,000 will continue to pay […]
2023: What the year has in store for SMEs
The new year brings a mix of uncertainty and opportunity for SMEs as they look to navigate a struggling economy, an impending recession and changes to tax and incentives following Jeremy Hunt’s Autumn Statement. It’s safe to say 2022 was a turbulent 12 months. But rest assured, whatever 2023 brings, we’re here to help you […]
Super deduction for Capital Expenditure
For a limited period companies are able to benefit from two additional first-year capital allowances – the super-deduction providing immediate relief for 130% of the qualifying expenditure and a 50% first-year allowance. However, time is running out to take advantage of these allowances. Key dates The super-deduction and the 50% first-year allowance are only […]
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 […]
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 […]
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 […]