CHINA FLEET CLUB PLANTS MORE TREES FOR THE FUTURE
The Royal Navy’s Fleet Commander, Vice Admiral Andrew Burns CB OBE has planted the 100th tree at the China Fleet Country Club, as part of Her Majesty The Queen’s Green Canopy (QGC). The QGC is a nationwide enterprise and unique tree planting initiative created to mark Her Majesty’s Platinum Jubilee in 2022, which invites people from across the United Kingdom to “Plant a Tree for the Jubilee”. Everyone from individuals, communities, organisations and schools are being encouraged to play their part to
People, capital and ideas
Many were not expecting a great deal of excitement in this Spring’s Statement. In terms of extra cash for the Government, VAT receipts are £61bn higher this year than last, no doubt boosted by higher fuel prices, we have the planned National Insurance rise of 1.25% from next month and corporation tax increases next year. Conversely £83bn of Government interest costs will be a large draw on funds as will the cost of council tax and fuel rebates. We knew that Mr Sunak would like to further incentivise
Spring Statement 2022
Rishi Sunak has a difficult task ahead of his Spring Statement on 23 March 2022. The Chancellor must balance the UK’s books having dealt out hundreds of billions of pounds in Covid support measures, whilst under pressure to address the soaring cost of living. With inflation at a 30-year high and energy costs set to increase further, there is a serious strain being put on millions of UK households. It has also been confirmed by the Bank of England that interest rates have increased for the third time in
Prudent planning for tax
As the end of the tax year fast approaches, Michael Hesketh, partner and head of tax at Azets, provides some top tips when considering income tax. BEWARE OF RISING INCOME… Wage growth hit a record in 2021, and together with other tax changes, such as the loss of loan interest relief, the unwary could find themselves with a considerably higher level of income than in previous years. By way of example, from April 2020, all loan interest on residential property has been disallowed in the rental
Acquisitions - a match made in Heaven?
The final stages of an acquisition deal can be all consuming, but operationally, post completion has when the real work begins. The nature of the acquisition and the relationship between Vendor and Purchaser will determine the challenges in integrating the acquisition into the future structure. Katherine Broadhurst, Corporate Finance Partner at Azets, explores the key areas to focus on once the deal is completed and the ink is dry.People Power People are central to the success of any business. New working
Address ESG or lose funding, warns SME accounting expert
An SME accounting expert with UK Top 10 firm Azets, the largest regional accountancy firm and business advisor to SMEs, is urging businesses to address Environmental, Social, and Governance (ESG) policies or risk losing their funding line. Matthew Gard, Growth Partner at Azets, says climate change and ESG is already starting to have a significant impact on funding decisions and those too focused on the short-term could be putting the future of their businesses at risk. He warns that lenders, suppliers,
A Meeting of Minds?
Once you have identified a target, considered as much as you can from strategic, financial and cultural perspectives, and had an initially positive response to an approach, the process to seek to reach a mutually acceptable position starts. Katherine Broadhurst, partner at Azets explains. Internally, the Buyer should agree a team who would work with the external advisors on the transaction, as well as the parameters (maximum value, other principles of engagement) for the deal. This ensures appropriate
Seize the opportunity!
Our recent SME Barometer report highlighted businesses see the biggest opportunity and the biggest threat as two sides of the same coin – adapting to the new “normal”. This involves embracing the new ways customers are purchasing goods and services…increasing efficiency and reach through automisation and digitisation. Katherine Broadhurst, Partner at Azets explores some positive steps you can take to seize the opportunity. Organic Growth With more than half of SMEs expecting turnover and profit to
How to determine and obtain the right type of finance to support growth
How to determine and obtain the right type of finance to support growthIn today’s financial landscape, finding the best funder for your business is more complex than ever. The breadth of choice is vast and banks and other funders each have different areas of focus, which may change with economic conditions and the rationales for decisions may not be apparent from the outside. With 60% of UK SMEs looking to invest in their business in the next 12 months and 20% of UK SMEs planning to borrow in the same
How sustainable is your profit performance?
During the pandemic with restrictions in the UK and worldwide it’s been a challenging time for many businesses. However, in some cases not being able to operate at all or learning to in a different way has given businesses the time to stop and reassess their business and objectives and enhance their operations.The change in circumstances all businesses have had to navigate in this last year has created, for some, an opportunity to deep dive into the business and reconsider internal processes that may have
Chamber hits back at Chancellor's Kickstart Gateway comments
Following the Chancellor’s removal of the minimum placement criteria for small business on Friday, the Devon & Plymouth Chamber has learnt that this action was taken in response to the Treasury’s concern over providers who were failing to pass on the £1,500 training grant to employers and gateways being slow to respond to small business. For each placement, gateway providers receive £300 to support administrative costs, while employers are supposed to receive £1,500 per placement for help with setup
Thomas Westcott announced as Chamber Patrons
Leading South West firm Thomas Westcott Chartered Accountants has been announced as an official Patron of Devon & Plymouth Chamber of Commerce. The independent accountancy practice has 17 offices across Devon and Somerset and has played a prominent role in helping businesses improve their financial resilience in the face of the Covid-19 pandemic. Thomas Westcott’s position as a Chamber Patron reflects its status as a regional leader and a supporter of thousands of businesses in the South West. Patrons of
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The Heart of the South Local Enterprise Partnership is currently consulting on its document entitled ‘Stepping up to the Challenge.’ This is a draft Productivity Strategy for the counties of Devon and Somerset. Our area compares unfavourably with most in the county in terms of the volume of the work achieved, per hour, spend on innovation, number of companies which export and overall how competitive our economy is. The strategy aims to double the size of the local economy by 2030 and improve our relative
