The Business : News

Garry Lee - Chair R3 Southern Thames Valley Committee

Dorset and Hants trade body's warning after insolvencies rise

Corporate insolvencies have increased significantly over the past month (March 2021)as economic damage caused by the pandemic appears to be starting to show, according to the R3 trade body for restructuring and insolvency professionals in Dorset and Hampshire. The findings come a year after the first national lockdown was introduced at the end of March 2020.

Solent Growth Fund generates £840m for the Solent economy by 2030

The Solent economy will receive an £840m boost as a result of Solent Local Enterprise Partnership (LEP) investment through the Local Growth Deal to date.

Budget super-deduction helps care sector invest in equipment

Care homes and other companies can now save 24.7% when they invest in sluice machines and other capital equipment, reports infection control specialist DDC Dolphin. The super-deduction in Chancellor Rishi Sunak's 2021 Budget enables companies to claim 130% in capital allowances on qualifying plant and machinery. Every pound invested saves up to 25p in corporation tax.

Carol Cummins, private wealth team leader at national law firm Clarke Willmott LLP

Does your will cover the 'what ifs'?

A recent High Court case which decided who should inherit the estates of a married couple who died within months of each other, has brought into focus the importance of drafting a fully comprehensive will which covers various eventualities.

March 2021 Budget by Bulpitt Crocker Accountants

The economy and headline figures The 2021 Budget took place on 3 March 2021. Chancellor Rishi Sunak announced that, as a result of the Covid-19 crisis, GDP shrank by 9.9% in 2020, the largest annual fall in 300 years according to a Bank of England report, albeit lower than the 11.3% forecasted in November. However, the Office for Budget Responsibility (OBR) expects that the economy will recover quickly once the current restrictions are lifted.

Budget Wishlist: 7 areas for change

Julia Rosenbloom, tax partner at Smith & Williamson, is calling on the government to bring about changes in the upcoming Budget that would see greater wealth transfer to younger generations, and a series of temporary tax reliefs that would provide a much needed boost to struggling areas of our economy.

Keep trading with Crowdfund Dorset Business

In response to the first wave of the COVID-19 pandemic Dorset Local Enterprise Partnership (LEP) set up the Crowdfund Dorset Business campaign. The initiative offers micro, small and social enterprise businesses up to £5,000 of match-funding, provided they can raise an equivalent amount from 10 or more supporters.

Monthly corporate and individual insolvency statistics (December 2020) - R3 Southern and Thames Valley response

New figures show that rising numbers of people and businesses are entering an insolvency process despite Government support to weather the Covid crisis. R3, the trade body for restructuring and insolvency professionals in the South and Thames Valley, says that the impact of the pandemic is finally beginning to show in the statistics. It has responded to increases revealed in insolvency figures for December 2020 - and says that it is a question of 'when, not if' the numbers further rise this year.

Small firms breath sigh of relief following Supreme Court's interruption insurance verdict

Commenting on the Supreme Court's decision to rule in favour of policyholders in the landmark Financial Conduct Authority (FCA) business interruption insurance test case, Federation of Small Businesses (FSB) Development Manager for Dorset, Nicola Bailey said:

Christian Gattiker Chief Strategist Bank Julius Baer

Inspire brings leading global economist to offer insight to local business leaders

Hot on the heels of the new Brexit trade deal and with a new US President about to be sworn in, not to mention the concern around the pandemic, the beginning of 2021 could be a little unnerving for the global economy. To help get a handle on what the economy will look like in 2021, Poole-based business and tax advisory firm, Inspire is hosting an Economic Update webinar, with leading global economist, Christian Gattiker on Thursday 21 January.

CBI response to extra business support during third lockdown

Rain Newton-Smith, CBI Chief Economist, said: "The Chancellor has once again moved swiftly to support businesses as circumstances change. It is sorely needed. "More direct grants will provide some relief to eligible companies' cashflow. "Yet with businesses facing a third lockdown, there are other steps that can help provide a bridge to the all-important economic recovery, particularly those affected through supply chains.

FSB Development Manager for Hampshire, Dorset and Isle of Wight, Nicola Bailey

Five-point plan needed to support small businesses through new COVID restrictions

The Federation of Small Businesses (FSB) has written to the Chancellor of the Exchequer, Rishi Sunak, calling for a five-point support plan for small firms impacted by the latest wave of COVID-19 restrictions.

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