Blog | RMT Accountants and Business Advisors Newcastle

February 10, 2023

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

February 10, 2023

Energy bill support for firms to be reduced from April

Businesses will receive reduced support for their energy bills from April. The Government has announced a new Energy Bills Discount Scheme (EBDS) from April 2023 to April 2024 for eligible non-domestic consumers in Great Britain and Northern Ireland. The current Energy Bill Relief Scheme announced in September comes to an end in March 2023. It

February 9, 2023

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

February 9, 2023

Upcoming corporation tax changes

It was announced at Budget 2021 that from 1 April 2023 different rates of corporation tax will apply depending on the level of taxable profits of a company and number of ‘associated’ companies. This is very similar to the corporate tax rules which applied prior to 1 April 2015. In summary, from 1 April 2023

January 31, 2023

AISMA Doctor Newsline Winter 2022/23

As experts in accounting for healthcare professionals, we are pleased to introduce you to the Winter 2022/23 edition of AISMA Doctor Newsline, the newsletter for GPs and practice managers published by our membership organisation, the Association of Independent Specialist Medical Accountants. With big financial changes ahead for GPs, Luke Bennett opens the issue with an

January 25, 2023

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

January 9, 2023

MTD for ITSA delayed for two more years

Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement today (19 December 2022). Understanding that self-employed individuals and landlords are currently facing a challenging economic environment, and the transition to Making Tax Digital (MTD) for Income Tax Self Assessment

January 9, 2023

Chancellor launches financial sector reforms

On 9 December, the Chancellor of the Exchequer announced a set of reforms to drive growth and competitiveness in the financial services sector. At the Autumn Statement, the Chancellor highlighted financial services as one the UK’s five key growth sectors. In a written statement to Parliament on 9 December 2022, the Chancellor set out a

January 9, 2023

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