Credit, Collections & Insolvency News
HMRC recovered an extra £3.17billion in underpaid VAT from large businesses as a result compliance investigations undertaken by the Large Business Directorate over the last year* says Pinsent Masons. Pinsent Masons says that although this is slightly less than the £3.38billion it collected the previous year, VAT enquiries are by far the highest yielding area…
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The Money Advice Trust has appointed Adrian Keasey and Anna Bennett to its Board of Trustees as of January 2017. With over 25 years of experience in ICT, Keasey also serves as a member of the charity’s grants committee. Currently focusing on the transformation of global business models at Fujitsu, Adrian has previously held a range…
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A quarter of all card transactions are now made via contactless, new figures from The UK Cards Association show. 325 million purchases were made using contactless debit and credit cards in November 2016, accounting for 25 per cent of all card payments in the month. The rise in contactless payments led to a record £2.9 billion…
Read moreNew research from Lloyds Bank reveals Britons spent an average of £465 each on Christmas 2016, with a majority admitting to not making an overall budget. Moreover, one-in-ten (11%) respondents spent over £1,000 over the festive period, while almost one in five (17%) of those with children in their household admitted to spending more than £1,000.…
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Demand for debt advice is surging this January, according to new figures from National Debtline,. The news comes as many credit card bills begin to arrive through letterboxes this week. Calls to National Debtline in the first eight working days of 2017 are up 17 percent compared to the same period in January 2016, with…
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Over 760 businesses ceased trading in December 2016 with 1093 small businesses scheduled to cease trading in January according to research, carried out on behalf of London insolvency practitioners Hudson Weir. The research reveals that 14.5 per cent of these companies were operating in the retail and food and drink sectors. This means at least another 110…
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New analysis from KPMG reveals that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies,…
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The Bank of England has released it’s latest Credit Conditions results. This quarterly survey of bank and building society lenders is an input to this work. Lenders are asked about the past three months and the coming three months. The survey covers secured and unsecured lending to households; and lending to non-financial corporations, small businesses, and…
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