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Blog: Business News

Doxford Group

Doxford Group delivers record financial performance as new hotel prepares for opening

A successful Northumberland hospitality group is ready for the next stage of its expansion after delivering record financial results. The Doxford Group, which owns the award-winning Doxford Barns and Charlton Hall in Chathill, more than doubled its annual turnover during its last financial year, from £1.6m to £3.9m, on the back of sustained demand in

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Two freeports confirmed for Wales

The UK and Welsh governments jointly confirm that two new Freeports, one in Anglesey and one in Port Talbot and Milford Haven, have been successful in their bids. The new sites are estimated to bring forward almost £5 billion in private and public investment and create over 20,000 new, high-skilled jobs, backed by up to

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HMRC late payment interest rate

HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008. HMRC interest rates are set in legislation and are linked to the Bank of England base rate. There are 2 rates: late payment interest, set at base rate plus 2.5% repayment interest, set at base

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Pensioners outnumber young people for filing self assessment tax returns

HMRC has today revealed that more pensioners filed a tax return for the 2020 to 2021 tax year compared to young people. Overall, those aged 65 and over accounted for 16% of individuals who submitted a tax return, whereas 16 to 24 year olds made up 2.7% of total filers. The new data is part of

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BCC warns SME exporters ‘under tightening pressure’

The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing ‘tightening pressure’ as a result of decreasing export sales. Most Small and Medium Sized Enterprise (SME) exporters report no improvement to exports, with 27% reporting decreased export sales in the quarter and 47% reporting no change. Only 26% of SME exporters saw increased export sales

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Bank of England raises interest rates to highest level in 14 years

The Bank of England (BoE) has raised the base rate of interest. The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 1 February 2023, the MPC voted by a majority of

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Hanover Dairies Agrees NatWest Finance Restructure Deal To Support Investment Plans

The North East’s leading independent milk delivery service is planning further investment in its business and services after securing a new refinancing agreement with NatWest. Hanover Dairies delivers a wide range of milk, eggs and non-dairy products to customers across the North East, North West and Southern regions from a network of 12 depots across

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Brexit deal not delivering for businesses

Thousands of businesses across the UK have been having to get to grips with new rules surrounding VAT, imports and exports since the Brexit transition period ended at the start of this year. More than three quarters (77%) of firms, for which the Brexit deal is applicable, say it is not helping them increase sales or grow their business More than half (56%) of

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Government extends mortgage guarantee scheme

The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder. The Mortgage Guarantee Scheme will be extended by a year, having already helped over 24,000 households get onto the property ladder Launched in April 2021, the scheme supports first-time

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