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23 February 2012

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22 February, 2012

self-assessment tax

Taxman prepares to send out 850,000 late filing fines


As many as 850,000 penalties for late tax returns will be issued over the next fortnight, more than half a million fewer than the same time last year, HM Revenue & Customs has announced.


tax

HMRC in bid to make on-line sellers pay their taxes

On-line auction sellers and electricians will be the next targets of campaigns launched by HM Revenue and Customs in its hunt for people who don’t pay the tax they owe.


INVESTMENT

North Yorkshire software company breaks new ground

A North Yorkshire software company is expanding rapidly thanks to an investment received after taking part in the Venturefest Yorkshire Investment Competition, organised by Yorkshire Association of Business Angels.


taxation

New deal closes a further offshore tax loophole

The Government’s tax agreement with Liechtenstein, which ensures the UK receives its fair share of tax from UK taxpayers with investments in the principality, has been confirmed until April 2016.


tax

HMRC plans to foil PAYE tax dodgers

HMRC has been given new powers to foil tax dodgers involved in a PAYE and National Insurance fiddle.


employment

Lloyds Banking Group sheds Scunthorpe jobs

More than 200 Lloyds banking jobs in Scunthorpe are to be lost by the end of the year.


FUNDING

Screen Yorkshire announces new £15 million content fund

A new £15 million fund to invest in creative content within film, TV, games and the digital sector within Yorkshire and Humber has been announced by Screen Yorkshire.


tax

HMRC changes approach to record checks

HM Revenue & Customs is to change the way it approaches business record checks, it has announced.


safety

Companies fined over potentially fatal accident

Two companies have each been fined £13,300 and ordered to pay costs of more than £3000 after a potentially-fatal accident at Drax Power Station in North Yorkshire.


Growing Places Fund

Enterprise Partnership secures money to boost growth

More than £6.6 million has been made available to kick-start housing and commercial developments in Lincolnshire.


investment

Leeds, Sheffield and Hull bid to be home of 'green bank'

Leeds, Hull and Sheffield are amongst more than thirty UK locations who’ve asked to be the home of the country’s proposed Green Investment Bank.


BANKING

Renewables experts bank on a green future

A group of renewables experts have come together at Greenhouse in support of Leeds City Region’s bid to host the proposed Green Investment Bank.


self-assessment tax

Taxman gives late filers 48-hour amnesty

People still rushing to beat the self-assessment tax deadline of Tuesday 31st January have been given an extra 48 hours to make their payments.


INFLATION

Inflation falls to 4.2%

Continuing its trend from late 2011, inflation has continued to drop, this time reaching as low as 4.2%.


Finance Yorkshire funding covered for plastics package manufacturer

A sustainable plastics packaging manufacturer has the future all wrapped up thanks to a £150,000 business loan from Finance Yorkshire.


digital business

Banks missing a trick on digital banking, says report

By 2015 digital banking will overtake bank branches as the principal way customers choose to interact with their bank, according to a new report by PriceWaterhouseCoopers.


ADMINISTRATION

R3 calls on Government to help businesses turnaround

R3 has warned that the UK’s business rescue culture is being hampered by the Government’s refusal to implement legislation to clarify exactly what is an expense of an administration.


TAX

HMRC offers “stay out of jail” disclosure facility for tax fraudsters

Yorkshire chartered accountants Watson Buckle are urging clients to come clean over alleged tax fraud following the launch of a new disclosure facility by HM Revenue and Customs.


european funding

Funding agency counts its contribution

Finance Yorkshire calculates it has invested about £13 million in business in Yorkshire and the Humber, unlocking a considerable amount more from Europe.


MERGERS AND ACQUISITIONS

Cross border transactions only bright spot in UK M&A drought

Both the number and value of mergers and acquisitions involving British targets has dropped by 25% in the fourth quarter of 2011, which recorded the lowest number in seventeen years.


tax returns

Revenue accused of harassing small businesses

HM Revenue and
Customs has been accused of double standards
over plans to do spot checks on the record-keeping of thousands of small businesses whilst apparently turning a blind eye to missed payments by larger organisations.


environmental news

Green investment recycled into jobs for South Yorkshire

A waste management business focused on processing and recycling black bag household and trade waste has received a £1.25m investment from the Finance Yorkshire Equity Fund.


Banking

Business leaders welcome plans for reform

Business leaders have welcomed Government plans for banking reform, and are keen for greater stability and the removal of taxpayer support.


Funding helps architectural systems firm build for the future

An architectural systems company is looking to grow its business and its workforce after putting in place firm foundations with Finance Yorkshire.


tribunal fees

Employment tribunal fee consultation welcomed by BCC

The concept of introducing fees to employment tribunals has been welcomed by the British Chambers of Commerce, which feels fees would deter vexatious claimants.


FINANCE

Four major audit and tax advice wins for Grant Thornton

Business and financial adviser Grant Thornton is celebrating one of its most successful months for winning new business.

21 February, 2012

debt recovery

Clarion Team recovers £12m of debt for clients

Since its launch two years ago, Clarion’s debt recovery team has succeeded in recovering over £12 million of commercial debts for companies in the region.

21 February, 2012

investment

Finance Yorkshire fills funding gap

A North Yorkshire GAP insurance provider is looking to bring new products to market and create more local jobs after becoming the first Malton-based company to receive an investment from Finance Yorkshire.

20 February, 2012

FINANCE

Hitachi Capital reports £100 million worth of consumer lending in January

Leeds-based Hitachi Capital Consumer Finance, the finance provider POS credit solutions, has announced a record month in January.

17 February, 2012

Enterprise Finance Guarantee scheme

Hull organisation provides alternative route to finance

The Hull Business Development Fund is one of four new lenders accredited to offer loans to small businesses under the Enterprise Finance Guarantee scheme, the Government has announced.

13 February, 2012

FUNDING

Number of businesses taking on finance falls, despite Project Merlin

The number of small businesses that have used a bank overdraft or loan has fallen in the past two years, according to the FSB, even though Project Merlin was supposed to increase lending.

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