NEWS

The latest from Balance for Business

Businesses planning to maintain investment

Research by law firm Herbert Smith Freehills suggests at least 80% of businesses are planning on maintaining or increasing their level of investment this year. A survey of financial directors and treasury professionals at 60 major UK corporates found that appetite to invest in their own businesses remained the same or higher than in 2017. The […]

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Mid-sized firms need support

BDO tax partner Jo Gilbey calls on the government to prioritise support for mid-sized businesses to help Britain thrive after Brexit. She says almost half (46%) of UK mid-sized businesses want the government to support growth by tackling the UK skills gap, while 41% are calling for a simpler tax system to make doing business […]

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Brexit progress sees rise in business lending

The Bank of England has reported a rise in the amount of lending to firms in February, with annual growth at 3.2%, up from 3% in the month before. The figures may indicate that companies’ investment confidence has been boosted by advancements in the Brexit negotiations. Separately, figures on business investment for the final three […]

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Firms plead for five year Brexit transition

British firms claim they need three-to-five years to properly prepare for Brexit – urging ministers to push for an extension to the 21-month transition period agreed last week. The London Chamber of Commerce and Industry (LCCI), Greater Manchester Chamber of Commerce (GMCC) and Business West have published a joint report, written by CEBR, to argue […]

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New funding lines for HMRC arrears

Ever since the 2008 downturn, HMRC arrears have been a big problem for everyone.  Of course businesses have struggled but HMRC has allowed itself to almost become a bank by default.  So many companies have used their HMRC debt like an overdraft and some might say ‘who can blame them?’ when flexible plans and 3% […]

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FCA reintroduces retirement interest-only mortgages

The FCA has reintroduced the defined term of a ‘retirement interest-only mortgage’ which will now be treated as a standard mortgage instead of being regulated under equity release standards. In September last year, an FCA consultation paper set out plans to reintroduce retirement interest-only mortgages, which were redefined as lifetime mortgages after the implementation of […]

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Is the Bank of Brother and Sister the new Bank of Mum and Dad?

The Bank of Brother and Sister may be just as generous as the Bank of Mum and Dad, according to research from Bank of Scotland. Its research found that Scottish siblings have loaned a total of £616m to their brothers and sisters. Almost half (48%) have loaned up to £500 but almost one in ten […]

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18 first-time buyers a week funded through equity release

18 first-time buyers are making it onto the housing ladder every week thanks to family members taking out equity release loans, according to Retirement Advantage. Its research found that one in 40 (2.6%) of the 36,825 equity release plans taken out in 2017 were by customers intending to use the funds to help a relative […]

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Buyer demand returns to pre-Brexit levels: haart

New buyer demand for homes “surged” in February with a 20% monthly rise, returning to pre-Brexit levels, according to the latest data from haart. Its data shows that the number of properties coming onto the market has risen by 15.3% on the month and there are now 15 buyers chasing every property across England and […]

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Redrow boss: I couldn’t start a firm now

Redrow chairman Steve Morgan says that he would be unable to create the firm today due to planning laws. Speaking at the Home Builders Federation conference in London, he asked why he or Berkeley boss Tony Pidgley would “find it almost impossible to build a major homebuilding company today.” He said that finance, “or lack […]

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