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Blog: Business News

Michael Cantwell

Reaching the right valuation for your company

By Michael Cantwell, Head of Corporate Finance  It’s been widely acknowledged that, in the aftermath of the covid pandemic, the attitude of a significant proportion of business owners has changed towards the timing of the exits that they want to make from them. While many would have previously been happy to continue running their businesses

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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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Capital allowances reformed in ‘Budget for growth’

A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a ‘Budget for growth’. A revolution in childcare, a £27 billion tax cut for business and a trio of freezes to help families with the cost-of-living headlined the Chancellor’s Spring Budget today, Wednesday 15 March. Aimed at

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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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Small firms ‘facing challenges when applying for financing’

Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB). The “Credit Where Credit’s Due” report highlights concerns around access to finance among small businesses, which will be crucial to any future economic recovery New Federation

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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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