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. […]
Santander UK: Economic & Markets (Budget Special)
We invite you to a comprehensive webinar hosted by Santander Corporate and Commercial Bank’s Risk Solutions Group, featuring panel guests Tom Adcock, Gravita Tax Partner, and Frances Haque, Santander UK’s Chief Economist. DATE: Wednesday 13 November TIME: 11am – 12pm Register here The panel: Thomas Adcock, Tax Partner at Gravita Tom advises a large number […]
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”. […]
Charity Total Return Accounting
Charities in England and Wales are permitted (subject to conditions) to adopt total return accounting in respect of their permanent endowment funds, but how is this accounted for? Normal treatment Without total return accounting, investment income earned from endowment funds is credited to unrestricted or restricted funds in the Statement of Financial Activities (SoFA). It […]
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 […]
Gravita adds some Oxford excellence as we welcome Critchleys
We’re delighted to announce that Oxford-based firm Critchleys has joined Gravita. If you’re a Critchleys client looking for your portal, visit our useful links page. From our earliest conversations, it was clear that we had found kindred spirits in the Critchleys team. Just like us, they love working with innovative businesses and are committed to […]
Making Tax Digital – Time for action
Written by Director of Transformation, Russell Frayne Making Tax Digital for Income Tax (MTD ITSA) is a government initiative aimed at modernising the tax return process. Businesses and individuals will need to keep digital records of transactions, sending quarterly updates to HMRC. The Government hopes that the quarterly submissions will enable a more accurate projection […]
What are the latest trends on AIM? An October 2024 review
Written by Audit Partner, Joseph Brewer In this article, Joseph Brewer, a partner in our listed audit team, reviews the latest statistics and trends on the AIM market. As a specialist adviser to AIM listed businesses, Gravita acts as auditor AIM listed businesses with a combined value of over £500m. Small cap businesses remain the […]
What restaurants need to know about the UK’s new tipping law
Written by Outsourcing Partner, Sudhir Rawal What is the Employment (Allocation of Tips) Act 2023? The Employment (Allocation of Tips) Act 2023 came into effect on 1st October. It aims to ensure that hospitality workers receive 100% of tips, gratuities, and service charges. The headline is that the legislation prevents employers from keeping any […]
How do I calculate my part-time employee’s holiday entitlement?
Is holiday entitlement calculated differently for part-time employees? No. Full-time employees are legally entitled to 28 days (5.6 weeks) paid holiday each year minimum, and this can include bank holidays. Part-time employees are entitled to 28 days’ paid holiday, just in proportion to the hours they work. What about bank holidays? If the contract provision […]