Publisher and Chamber unite in strategic partnership
West & North Yorkshire Chamber has entered into a strategic partnership with publisher LOCALiQ to promote its services across the region and to enable members to market their business through the goods and services both have to offer.
The Chamber says the arrangement is a perfect B2B partnership as both organisations already work closely together, with LOCALiQ sales director Steve Lowe already sitting on the leadership of the West Yorkshire leadership group and as a member of the Chamber’s BAME committee.
Together they will highlight the positive B2B activities taking place and promote the services they both offer to help local businesses, from finance and legal advice, start up support and skills and training which the Chamber specialises. With LOCALiQ, an award-winning marketing company, offering advice and guidance around all things marketing including websites, generating leads, enquiries and awareness using digital media, news websites, magazines, and networking events.
James Mason, CEO of the West & North Yorkshire Chamber said: “The Chamber and the titles LOCALiQ manage have been proud champions of the region’s business community for centuries.
“This partnership will allow us to take our convening powers and reach to a how new level”
Steve Lowe said: “Both organisations are focused on supporting local business to grow, we offer very different support and combined we can provide great advice to what a large, small or start up business needs to grow.”
The West & North Yorkshire Chamber of Commerce exists to support local business. Their mission is to be recognised as an essential part of growing businesses by sharing opportunities, knowledge, and expertise, with a strong business voice influencing decision makers at all levels. As accredited members of the British Chamber of Commerce (BCC) they have been supporting business for over 150 years.
Leeds’ Eville & Jones acquired by Nottingham group
Nottingham-headquartered Phenna Group, whose aim is to invest in and partner with selected niche, independent Testing, Inspection, Certification and Compliance (TICC) companies that serve a variety of sectors, has made its 15th deal of 2023, and its 4th in food and health sciences.
Formed in 1993 by vets Rob Jones and Pete Eville, Leeds-based Eville & Jones (E&J) is a provider of veterinary, compliance and public health solutions to the food industry. Its UK-wide team of nearly 1,000 professionals delivers audit, verification, inspection and compliance services in the fields of animal health, public health, food safety and animal welfare.
E&J works with various government departments across the UK to safeguard animal welfare within abattoirs and ensure that meat is safe to enter the food chain. E&J is also the country’s largest provider of Export Health Certification services to the private sector, enabling the export of Products of Animal Origin.
Charles Hartwell, CEO of Eville & Jones, said: “My team and I are hugely excited to join Phenna Group. Our business has grown steadily over recent years and I believe with Phenna’s support, that can continue and allow us to expand more rapidly into complimentary services and geographical areas.
“Since our first interaction with Paul and his team, the process has run smoothly and they have acted with great integrity and professionalism throughout. I’m confident in our ambitious future growth strategy and look forward to working with the Phenna Team to deliver it.”
Paul Barry, Group CEO of Phenna Group, added: “I am delighted to welcome Charles and his team to Phenna Group. The addition of Eville & Jones really augments our fast growing Food & Health Sciences platform.
“By headcount, this is our largest deal to date and their experienced team creates a UK wide footprint of experts, that we hope to leverage into new adjacent services into the future. E&J provide a critical service to the UK food industry and I’m proud to have them join Phenna Group. I look forward to working with Charles and his team to help them deliver their exciting growth plans.”
Phenna Group was advised by Avonhurst and RSM. Eville & Jones was advised by Blacks Solicitors, Parsons Chartered Accountants, and Claritas Tax.
The deal follows hot on the heels of Phenna Group’s acquisition of CEIMIC Life Sciences Testing Group.
One City Park reaches completion in Bradford
One City Park in Bradford, delivered in partnership between Muse and Bradford City Council, has reached completion, and contracts have been exchanged with an anchor tenant.
The city centre workplace offers 56,403 sq ft of sustainable and flexible workspace in the heart of the city. One City Park features five floors of workspace and a roof terrace. It is designed to suit a range of businesses from home grown starts-up and SMEs, through to larger organisations and multi-national occupiers.
Simon Dew, development director at Muse, said: “One City Park will be a catalyst for further investment in the city and signifies a newfound confidence in its commercial centre that will attract future big-name businesses.
“The project also demonstrates a very successful public/private partnership that will reap long-term benefits by providing incredible job opportunities for the younger, growing, population in the city.”
Cllr Alex Ross-Shaw, Bradford Council’s Executive Member of Regeneration, Planning and Transport, said: “We already have a talented and ambitious workforce and we’re now providing the highest spec office space for businesses who are serious about making their mark in the North.
“This is an exciting time for Bradford and the completion of One City Park is just the beginning of the commercial transformation that is taking place here.”
The building, which has now been formally handed over to Bradford Council as the owners, is framed by new public spaces including stepped access and attractive seating areas.
Other key project partners involved included: Arup, G&H Building Services, Howard Civil Engineering and re-form Landscape Architecture, with additional funding from the West Yorkshire Combined Authority.
Developer chosen for York Central
McLaren Property and Arlington Real Estate have been selected as the strategic developer for one of the UK’s largest city centre regeneration schemes.
Network Rail and Homes England have selected McLaren Property and Arlington Real Estate as the preferred developer for their major brownfield scheme, York Central.
York Central is being brought forward by a partnership between Network Rail, Homes England, the City of York Council and the National Railway Museum. The scheme has the potential to significantly boost the local economy by creating up to 6,500 jobs and delivering over £1.1 billion of Gross Value Added to the economy of York per annum.
There are already £135m of infrastructure works underway to enable this major regional scheme to progress. These include over 3km of new roads, footpaths, cycleways and also include two new bridges over the East Coast Main Line.
The appointment of McLaren Property and Arlington Real Estate as a development partner is the latest milestone in delivering York Central, which will see a key piece of York city centre brought to life by transforming underutilised railway land into vibrant and distinctive residential neighbourhoods, cultural spaces, high quality public realm and a high-quality commercial quarter.
McLaren Property and Arlington Real Estate partnership have significant experience in delivering major mixed use regeneration schemes and neighbourhoods including Durhamgate, Newton Aycliffe and Upper Brook Street, Manchester.
Peter Denton, Chief Executive at Homes England said: “This is a major milestone in the important regeneration of York Central. Over the last few years, Homes England and Network Rail have worked closely with City of York Council to create a vision and masterplan, and have invested in the critical infrastructure to make this a reality.
“It will now be delivered at pace through our chosen development partner for long term delivery and stewardship.”
Robin Dobson, Group Property Director at Network Rail, said: “This is a strategic step forward in the regeneration of over 110 acres of underused railway land to deliver significant investment and social value for the City and region.
“York Central puts infrastructure at the heart of a new residential, commercial, and cultural neighbourhood. The project demonstrates the pivotal role Network Rail Property can play in unlocking sites which deliver growth, jobs and housing.”
John Gatley, Chief Executive of McLaren Property, said: “We are proud to have been selected to deliver York Central – the most significant regeneration scheme in the north of England. McLaren have deep roots in Yorkshire, and we are committed to working with local stakeholders to enhance the great city of York.”
Allan Cook, founder of Arlington Real Estate, said: “Having spent the last 15 years focussing on the delivery of large scale mixed use development schemes in the North of England we have witnessed firsthand the positive benefits, to both communities and the local economy, of large scale regeneration.
“We are delighted to have been given the opportunity, alongside our partners McLaren Property, to be able to write the next chapter in the story of this great historic city.”
York Central is a 45-acre site that will deliver up to 2,500 homes, 20% of which will be affordable, and create up to 1 million sq ft of commercial space for offices, retail and leisure. A network of vibrant public squares linking to surrounding neighbourhoods in the city centre will be delivered, as well as improvements to York Railway Station and an expanded and enhanced National Railway Museum.
Struggling streets in our region become pilot regeneration scheme guinea pigs
Scunthorpe High Street, Grimsby Town Centre, and The Stepney area of Beverley Road in Hull are amongst ten struggling locations chosen take part in a new government pilot – the High Street Accelerators programme – to create partnerships that empower residents and community organisations to work together on long-term regeneration plans.
Funding pf £7m will help communities partner with local authorities and businesses to address some of the biggest challenges facing their high streets – building on wider action to tackle empty shops, anti-social behaviour and a lack of visitors.
These 10 areas to be called High Street Accelerators will receive an initial £2.37 million to kickstart their partnerships – a total of £237,000 each. They can also apply for a share of up to £5 million to improve their high streets’ green spaces and create more pleasant environments for residents to meet and socialise.
This £7 million will be spent over the next two years and the impact will be evaluated to inform future government policy and support for left-behind high streets, building on larger interventions like the £1.1 billion Long-Term Plan for Towns.
Minister for Levelling Up Jacob Young said: ”It has been a tough few years for our high streets following the pandemic and the changes we’ve seen in consumer behaviour.
“We know that local people know what’s best for their area, and we’re keen to understand the benefits that High Street Accelerators could bring working with local businesses and their communities.
“These Accelerators will complement other interventions like High Street Rental Auctions, empowering local people to tackle vacancy and other issues on their high streets.”
The High Street Accelerators Pilot Programme was announced in March 2023 as part of the Anti-Social Behaviour Action Plan. It will complement other interventions designed to revive England’s high streets such as the High Streets Task Force which is helping local leaders to regenerate their areas, and changing planning rules so councils have greater certainty.
New regulations to be introduced next year will also give local authorities more powers to work with landlords to rent out vacant properties on high streets. The High Street Rental Auctions regulations will allow councils to sell off the rental rights for empty properties to willing tenants, such as businesses and community groups.
Along with High Street Accelerators, this will incentivise and empower local people to tackle vacant buildings, enabling local communities to reinvent their high streets for the future.
First supermarket signs up to put ‘buy British’ tab on its web site
Following years of NFU campaigning, Morrisons has taken up the call to back Britain’s farmers by allowing shoppers to be able to identify British food more easily when doing their online food shop.
The move follows an open letter written by Conservative MP Dr Luke Evans to the chief execs of eight major supermarkets asking for a filter which would direct shoppers to homegrown food to help boost the economy and cut the UK’s carbon footprint. The letter was was co-signed by 121 cross-party MPs, and echoed a long-standing NFU ask dating back to 2016.
Morrisons Chief Executive Rami Baitiéh has written to Dr Evans to confirm the company has implemented a ‘British’ section to morrisons.com which enables customers to quickly navigate to British produce including meat, fish, vegetables and dairy products.
Dr Evans said: “I’m so pleased to see Morrisons step up and make this small but meaningful change. The ball is now firmly in the other supermarkets court, let’s see what they do.”
NFU President Minette Batters said that she hopes the news would pave the way for other supermarkets to follow suit.
Streets Chartered Accountants covers tax, national insurance, pensions and more in new news roundup
Streets Chartered Accountants covers tax, national insurance, pensions and more in its latest monthly news roundup.
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023…read more
Marriage allowance entitlement
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for Income Tax…read more
Income Tax – £5,000 savings zero rate band
If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received…read more
CGT – Lettings relief
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence…read more
IHT – Giving away your home before you die
The majority of gifts made during a person’s life, including gifting a home, are not subject to tax at the time of the gift…read more
Filling gaps in National Insurance record
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record…read more
NIC changes for the self-employed
In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed…read more
NIC changes for employees from 6 January 2024
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees…read more
Tax relief on pension contributions
Taxpayers can usually claim tax relief for their private pension contributions…read more
Help to Save bonus payments
The Help to Save scheme is intended to help those on low incomes to boost their savings…read more
Due a student loan refund?
Student Loans are part of the government’s financial support package for students in higher education in the UK…read more
Childcare support from HMRC
Parents may be eligible to receive childcare support from HMRC using the Tax-Free Childcare (TFC) scheme…read more
Current State Pension age
The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66…read more
Paying tax by direct debit
One of the many ways that payments can be made to HMRC is by using a direct debit…read more
Tax Diary December 2023/ January 2024
1 December 2023 – Due date for Corporation Tax payable for the year ended 28 February 2023.
19 December 2023 – PAYE and NIC deductions due for month ended 5 December 2023 (if you pay your tax electronically the due date is 22 December 2023).
19 December 2023 – Filing deadline for the CIS300 monthly return for the month ended 5 December 2023.
19 December 2023 – CIS tax deducted for the month ended 5 December 2023 is payable by today.
30 December 2023 – Deadline for filing 2022-23 self-assessment tax returns online to include a claim for under payments to be collected via tax code in 2024-25.
1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023.
19 January 2024 – PAYE and NIC deductions due for month ended 5 January 2024 (if you pay your tax electronically the due date is 22 January 2024).
19 January 2024 – Filing deadline for the CIS300 monthly return for the month ended 5 January 2024.
19 January 2024 – CIS tax deducted for the month ended 5 January 2024 is payable by today.
31 January 2024 – Last day to file 2022-23 self-assessment tax returns online.
31 January 2024 – Balance of self-assessment tax owing for 2022-23 due to be settled on or before today unless you have elected to extend this deadline by formal agreement with HMRC. Also due is any first payment on account for 2023-24.
Read more
2024 Business Predictions: Ben Coggin, Partner and Transaction Services Leader for EY in Yorkshire and the North East
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Ben Coggin, Partner and Transaction Services Leader for EY in Yorkshire and the North East, on prospects for the Mergers and Acquisitions market.
The Mergers and Acquisitions (M&A) market is undoubtedly in a more complex place compared to this time last year as it contends with a range of challenging headwinds, with geopolitical instability, inflation and interest rates weighing significantly on deal volumes and activity throughout 2023. These factors are likely to continue having an impact on deal activity in 2024 and, as such, the outlook for the deals market is difficult to predict.
That said, there is undoubtedly still an appetite to do deals. Corporate acquirers have continued to transact and have benefitted from a period of decreased competition as private equity has weathered the headwinds of rising interest rates and an uncertain debt market. For private equity investors, many of whom have raised funds recently in addition to sitting on record levels of capital, there is a real need to source and deliver on deals in 2024 to deploy capital raised. When headwinds stabilise, private equity will be well-placed to drive a resurgence in M&A activity.
Deal activity currently reflects a buoyant mid-market, with acquirers favouring the lower risk profile, reduced financing requirements and ease of execution associated with smaller deals as they target strategic growth opportunities and look to capitalise on a narrowing valuation gap between buyers and sellers. For those in Yorkshire, and across the North, a buoyant mid-market should be welcome news as we move into 2024.
From a sector perspective, technology and digital transformation are driving deal activity – a trend that will continue into 2024 – particularly as investors and CEOs recognise the potential disruptive impact of Generative Artificial Intelligence (GenAI). The latest EY CEO Outlook Pulse survey found that nearly all (99%) of the UK CEOs interviewed are making or planning significant capital investments in GenAI in the next 12 months. Whilst this is likely to result in a substantial uptick in investment in the sector, an increase in companies claiming AI expertise will likely complicate decisions about identifying and implementing credible value-adding ecosystem partnerships and acquisitions.
Plans for hundreds of new affordable Leeds homes to go before leaders
Plans to invest £3 million to build almost 300 new, affordable homes in Leeds look set to be approved by regional leaders.
The proposals will see high-quality dwellings for rent built on brownfield sites across the city, as part of West Yorkshire Mayor Tracy Brabin’s efforts to turbocharge regeneration.
Up to 88 new homes will be built in Seacroft and Gipton, in east Leeds, while 204 rented homes are earmarked for Saxton Lane, in Leeds city centre. The homes will benefit from a range of measures that will help tenants save money on energy bills, such as through heat pumps.
A full meeting of the West Yorkshire Combined Authority will consider the plans today (Thursday, December 7).
Funding for the new homes is part of a wider £89 million Brownfield Housing Fund devolved to the region from the Government.
Tracy Brabin, Mayor of West Yorkshire, said: “Everyone should have access to a safe and secure place to call home, so I’m delighted we’re able to bring forward plans for hundreds of new homes in Leeds.
“These schemes would be an important step forward in our mission to build a brighter, more vibrant West Yorkshire that works that for all.
“However, the Government must now provide the flexibility we need to make better use of disused land and buildings so that we can deliver thousands more homes right across the region.”
Mayor Brabin has called on the Levelling Up Secretary Michael Gove to allow for more flexibility to develop on brownfield land.
Current government rules make it difficult for regional leaders to back housing projects in areas where the land values are relatively low, yet regeneration is needed.
In a letter to Mr Gove, Mayor Brabin said the overall financial benefit of multiple sites should be assessed instead of each site on its own, opening up more opportunities for housebuilding across West Yorkshire.
Mayor Brabin has also recently launched a consultation so the public can have their say on a new housing strategy for West Yorkshire.
The strategy will aim to boost the delivery of high-quality, affordable housing and improve the quality of existing homes to cut energy bills.
Morrisons and M&S undertake to play by the rules over anti-competitive land agreements
The Competition and Markets Authority has taken action to protect supermarket shoppers by securing agreements from Morrisons and Marks and Spencer that they’ll stop using unlawful anti-competitive land agreements.
These unlawful agreements include restrictions on land being used by a rival supermarket, or restrictions lasting five years or more that stop landlords from allowing competing stores to set up.
The CMA found that the retail giants, who together hold 12% market share of the UK’s supermarket industry, have both breached the Groceries Market Investigation (Controlled Land) Order 2010 Morrison 55 times between 2011 and 2020, and M&S 10 times between 2015 and 2019. The legislation was introduced to stop supermarkets imposing new restrictions that block rivals from opening competing stores nearby. By ensuring supermarkets compete freely, the CMA is ensuring that shoppers have more choice and so benefit from a wider range of groceries and access to cheaper prices – which is even more important as the cost of living rises.
Morrisons currently has the poorest compliance record with the Order that the CMA has seen to date. Although 14 of these restrictions have ended, there are an outstanding 41 restrictions that Morrisons has agreed to address. Likewise, five of M&S’s restrictions have ended and it has agreed to address the remaining five. The CMA has written to both supermarkets outlining the breaches and the actions agreed to improve compliance in the future.
Adam Land, Senior Director of Remedies Business and Financial Analysis at the CMA said: “At a time when the weekly shop is a source of financial pressure for many families, it’s crucial that competition between supermarkets is working well to help people get the best deals they can.
“These restrictive agreements by our leading retailers are unlawful. There can be no excuses made for non-compliance with an Order made in 2010, especially when we know the positive impact for shoppers of new stores on the high street.
“Our continued crackdown on these unlawful restrictions is part of our wider action to tackle the cost of living and ensure that people benefit from more competition and choice.”