The latest Consumer Prices Index (CPI) figures released this morning, 21st May, by the Office for National Statistics (ONS) show UK inflation rose to 3.5% in April – its highest level since February 2024. While a poll of City economists had forecast a rise to 3.3%, and analysts at the Bank of … [Read more...]
News for: Finance
Start Up Loans partner delivers £24 million in funding for UK new businesses
GC Business Finance (GCBF), a Business Support Partner for the British Business Bank’s Start Up Loans programme, has provided over £24 million in funding across the UK during the 2024/25 financial year. The lender provided smaller businesses nationwide with 2,127 loans, with start ups in the … [Read more...]
Consortium backs Northern businesses with over £1.7 million in NPIF II Smaller Loans
GC Business Finance and River Capital have supported Northern businesses with over £1.7 million in smaller loans funding in the first year of the Northern Powerhouse Investment Fund II (NPIF II). Since the launch of the fund in April 2024, the consortium has supported 32 businesses across the … [Read more...]
HMRC revises interest rates following Bank of England rate cut
Following the Bank of England's decision to cut its base interest rate to 4.25%, HMRC is advising that its interest rates on late payments and repayments will also change. HMRC interest rates are set in legislation and are linked to the Bank of England base rate. Late payment interest is … [Read more...]
Bank of England announces cut in interest rates
Economists on the Bank of England's Monetary Policy Committee have voted to cut interest rates from 4.5% to 4.25%. MPC members voted 5–4 in favour of the decision, with two members preferring a deeper rate cut of 0.5 points, and two supporting no change to the base rate. The split in the level … [Read more...]
Together announces results for quarter ending 31st March 2025
Cheadle-based specialist lender, Together, has announced its results for the quarter ending March 31st 2025. The quarter has seen the non-bank property lender continue to grow its loan book, which now totals £7.8 billion, up 10.3% on last year. Average monthly lending has slowed, however, to … [Read more...]
HMRC launches online help for tax compliance checks
HMRC has launched a new Interactive Compliance Guidance tool to help guide both businesses and individuals through tax compliance checks. The tool, accessible through the government website, brings together existing guidance in one place and helps customers understand: Joanne Walker, Low … [Read more...]
Making Tax Digital for Income Tax to launch April 2026 for sole traders and landlords
There is less than a year before sole traders and landlords with qualifying income over £50,000 will be required to keep digital records to report their earnings to HMRC. Making Tax Digital (MTD) for Income Tax will launch on 6th April 2026, and aims to help taxpayers save time gathering … [Read more...]
Northern businesses secure £80 million in NPIF II funding in first year since launch
In its first year since launching, the Northern Powerhouse Investment Fund II (NPIF II) has successfully completed over 200 investments into small businesses across the North of England. Operated by the British Business Bank, NPIF II is a £660 million fund that provides loans and equity finance … [Read more...]
Business Enterprise Fund injects £50 million in Start Up Loan funding for Northern entrepreneurs
Business Enterprise Fund, a partner for the British Business Bank’s Start Up Loans scheme, has provided Northern businesses with over 4,500 loans through the programme, totalling more than £50 million. Through Start Up Loans, Business Enterprise Fund has supported the founders of smaller … [Read more...]
April squeezes finances as new higher charges take effect
Almost everyone in the country is about to feel the burden of price rises and tax hikes that are set to hit household and business finances from April 2025. Households will be hit with soaring bills, while businesses also face a rise in Employers National Insurance Contributions and an uplift in … [Read more...]
Chancellor delivers first Spring Statement
Chancellor of the Exchequer, Rachel Reeves, has delivered her first Spring Statement in office, setting out measures aimed at managing government spending and supporting long-term economic growth. The Chancellor announced a range of cuts to government spending aimed at meeting the pledged target … [Read more...]
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