Credit, Collections & Insolvency News
Expanding commercial lending has been a strategic focus for many banks over the last few years, and this movement aligns with the growing number of Government-backed schemes to support SME lending. However, challenges inherent within commercial credit processes often hinder growth efforts. When it comes to commercial lending, most credit processes – from application through…
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The budget announced by the Government includes a proposal designed to tackle the use of insolvency to escape tax debt by expanding the current security deposits legislation as part of a bid to recoup some £150m of tax annually. The proposal widens the scope of the existing security deposits legislation to include corporation tax and…
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Responding to the 2017 Autumn Budget, Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “With costs rising and consumer demand flagging, small firms will welcome today’s business-friendly Autumn Budget. It was good to see the Chancellor’s speech acknowledge our concerns about the VAT threshold. Dragging thousands of more small firms into the hugely…
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Recognising the recent concerns raised both in Parliament and by third sector organisations about universal credit, the Government have announced that they in the Autumn Budget that they will: Offer an interest-free advance of up to a month’s worth of universal credit within five days for those who need it and who have an underlying…
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Four directors of Secure My Money Limited (SMM) have been disqualified following an investigation by the Insolvency Service. The individuals disqualified are: Mark Robert Kennedy for 8 years; David John Carter Mullins for 8 years; Edward John Booth for 7 years; and Christopher Brotherton for 5 years. All four were the directors who had responsibility for…
Read moreThe FCA is proposing changes to how people working in financial services are regulated. These changes are already effective in the banking industry and the aim is to roll out to the whole industry during the summer of 2018. A Consultation Paper was issued in July providing all regulated businesses the opportunity to review and…
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If you have the time to chase your debtor and they are expected to pay quickly then collecting a debt yourself is the preferred option. However, a Debt Collection Agency (DCA) is often the prefered first step to recovering a debt as it offers a no-cost no-risk solution to debt recovery and can prepare the…
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Debt Collection Agency (DCA) Controlaccount has announced it has maintained its ISO certifications for their procedures and systems for the 4th year running. ISO 9001 and ISO 27001 are internationally recognised certifications which outline strict standards that organisations must meet for Quality Management and Information Systems procedures. Controlaccount, based in Stoke Prior, Worcestershire has successfully demonstrated,…
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