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Explore insightful articles, tips, and industry updates from RMT. Stay informed on the latest trends, innovations, and best practices in accounting and business services.

£2M upgrade planned after Apartment Group acquires historic Croft Hotel

An historic North East hotel is set for a £2m upgrade after becoming the latest addition to The Apartment Group’s growing portfolio of unique wedding venues. The 24-bedroom, Grade II listed Croft Hotel at Croft-on-Tees has been acquired by the Newcastle-headquartered leisure operator for an undisclosed sum. Work is set to start imminently on the

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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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Restructuring Advisors say Charity Sector facing a challenging 2023

The number of charities in financial difficulty is expected to rise this year as a result of the increasing economic challenges facing the sector. That is the view of a North East restructuring expert, Chris Ferguson, who is Head of Recovery & Insolvency at RMT Accountants & Business Advisors based in Gosforth, Newcastle. His advice

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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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DISPELLING MYTHS ABOUT CORPORATE FINANCE

By Michael Cantwell, head of corporate finance at RMT Accountants & Business Advisors Ambitious businesses that are looking to expand and develop tend to have a lot of things in common – an experienced management team, a robust business plan, products and/or services that stand out from the crowd and a determination to succeed, whatever

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