Associated companies: Companies paying tax sooner and more often

Written by Tax Partner, Thomas Adcock From 1st April 2023, the number of companies that your company is associated to will increase the risk that not only will those companies have to pay a higher rate of tax on their profits, but that this tax may have to be paid more regularly and far sooner. […]

Six inheritance tax myths debunked

Written by Tax Partner, Parminder Chattha It raises a large amount of money for the government Total inheritance tax (IHT) receipts in FY21/22 equated to £6.1bn and is forecast to rise in 2023/24 to £7.2bn. This was up 14% from the prior financial year by £729m. However, total tax receipts for 2021 and 2022 equated […]

Navigating through some R&D tax complexities

Written by Tax Partner, Parminder Chattha . It is common knowledge amongst the industry that HMRC are focusing on R&D tax credit claims, with a significant increase in enquiries. Historically, claims would be enquired into before any payment was made to the claimant company, which most would agree is a sensible approach. Nevertheless, the enquiry […]

Domicile and its impact on an individual’s tax position

Written by Tax Partner, Michaela Lamb The way you are taxed in the UK will be affected by not only your Residency status, but also where you are domiciled.   What is domicile status? Domicile is a legal concept and whilst an individual can be a resident in more than one country at the same time, they can only […]

Basis period reform – Changes to how unincorporated businesses are assessed to income tax

Written by Tax Partner, Thomas Adcock If you are self-employed, or work together with others in partnership, you maybe be affected by new rules which came into effect on 6th April 2023. These rules will not affect you if your accounting year end is either 31st March or 1st – 5th April, as such year […]

Taxation of Restricted Stock Units (RSUs)

Written by Tax Partner, Michaela Lamb Restricted Stock Units, better known as RSUs, are an increasingly popular form of incentivisation offered to employees. These are a kind of employee share option scheme and are most commonly being offered by multinational tech companies, but are also offered by some banks and other smaller companies, albeit sometimes […]

UK tax residency and its impact on an individual’s UK tax position

Written by Tax Partner, Michaela Lamb This is a short guide to provide a general response to frequently asked questions concerning UK tax residency and its impact on how you will be taxed in the UK.     How do I know if I am a resident in the UK  for tax purposes? Since 6th April 2013, UK tax residency […]

Webinar: Benefits in kind and remuneration planning in 2023

We invite you to join us and Tim Palmer, Tax Consultant, at our webinar on 31st May focusing on benefits in kind and remuneration planning. The session will cover the above as well as planning areas such as bonus v dividends, redundancy planning, salary sacrifice, and the use of employee ownership trusts. The session will […]

Transfer pricing requirements to change for UK companies from April 2023

Written by our Tax Partner, Thomas Adcock . From April 2023, it will become a requirement for UK companies that fall within the UK transfer pricing legislation to maintain transfer pricing documentation using HMRC’s template.   Historically, UK companies that are required to consider transfer pricing were able to document their approach in any way […]

Meet the experts: Victor Dauppe

Gravita is made up of so many talented individuals. It’s their talent and knowledge that makes us who we are. It’s why we want to showcase those who work here, so you can get to know the people behind the expertise. In this post, we meet Victor Dauppe, an incredibly talented, articulate and charismatic chartered accountant […]