Submitting your tax return in good time over the festive period
Written by Tax Partner, Michaela Lamb Do you leave your tax return to the last minute? At Gravita, we love a statistic, and last year more than 12 million of us were expected to file a tax return in the UK. HMRC estimated that 600,000 missed the deadline. And we imagine the majority, unintentionally […]
MTD for Income Tax by April 2026: Compulsory digital record keeping and quarterly filing requirements for landlords and unincorporated businesses
Written by Tax Partner, Thomas Adcock MTD: Big changes are coming in April 2026; the way you keep your records and how often you report to HMRC may need to change. This is arguably the biggest change to how tax payers report to HMRC since the introduction of self assessment, it is going to require […]
Staff Christmas Parties, Gifts and Trivial Benefits to your employees, but what are the tax implications?
Written by Senior Tax Manager, Lekhrani Gya-Roopun Before you succumb to the Christmas vibes and start opening your advent calendars, below are some helpful tax tips on how to keep the taxman’s paws off your Christmas spending. Why let the taxman spoil the Christmas cheer! Gifts and Trivial Benefits for staff With Christmas being the […]
Webinar: Employee Ownership Trusts (EOTs)
We invite you to join us and Tim Palmer, our Tax Consultant, at our webinar on Wednesday morning 13 December 2023 entitled ‘Employee Ownership Trusts’. During this session, Tim will be covering: The tax benefits for the vendor, in selling their company shares to an EOT HMRC clearance Creating an EOT, and financing its acquisition […]
The Capital Gains Tax Targeted Anti-Avoidance Rule (CGT TAAR)
Written by Tax Consultant, Tim Palmer CTA ATT I was recently a guest at an accountants dinner. At the pre-drinks reception, an accountant who knew me came up to me and asked if I had experienced and had any knowledge of the Capital Gains Tax Targeted Anti-Avoidance Rule (commonly known as the ‘CGT TAAR’). I […]
Webinar recording: VAT and the Construction Industry
Sandy Cochrane, Gravita’s head of VAT, presented a 45 minute webinar addressing and explaining the main VAT problem areas that both contractors and subcontractors currently face in the construction industry. The areas covered in this webinar were: General overview The Domestic Reverse charge: understanding the supply chain and whether the contractor or the supplier has […]
Tax efficient electric vehicles
Written by Tax Consultant, Tim Palmer CTA ATT I have always been interested in electric cars. Why? I don’t really know, but if there is a newspaper or magazine article on the subject, I will normally devour it with great relish! I feel that if an employer provides a fully electric company car for […]
Marginal Relief for Corporation Tax
Since April 2023, the number of companies that your company is associated with may have increased, resulting in paying a higher rate of tax on your profits and paying the tax more regularly. The corporation tax rates brought in mean that more profitable companies pay tax at a higher rate. The Corporation Tax Rate From […]
Dealing with an estate after the death of a loved one: A step by step guide
Written by Tax Manager, Amanda Revell Following the loss of a loved one, there can be a lot to deal with, and having to go through the administrative process too can feel quite overwhelming at such a difficult time. If you have been appointed as the Executor in the Will (if there is one) […]
Use of Deeds of Variation
Written by Tax Partner, Michaela Lamb In an ideal world, everyone would take tax advice before drafting their Will to ensure that not only are their loved ones taken care of, but that this is done as tax efficiently as possible, both now and in the future. Unfortunately, this is not always the case, […]