I've been looking at the latest generation of AV Receivers for a little while and the Yamaha RX-V481 meets my needs.
Normally available at £349 from any number of retailers, it has today (Black Friday!) dropped to £279 at Richer Sounds.
The 381 and 581 are heavily discounted there too. You can compare features at http://uk.yamaha.com/en/products/audio-visual/av-receivers-amps/rx/?mode=series
The 381 doesn't have all the fancy network functions that a large part of why I've gone for the Yamaha over some of the other contenders from Sony, Denon, Pioneer or Onkyo. The 581 has more features than I'm likely to use. I'm not going to mount speakers in my ceiling, so I can't use Atmos!