Credit, Collections & Insolvency News
New annual figures, published by UK Finance – for the first time since it took over most of the activities of the Asset Based Finance Association – show a steady increase in invoice finance and asset-based lending in 2017. UK Finance members provided IFABL to 42,000 businesses at the end of 2017, worth a total…
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Following a detailed consultation and analysis, Account in Bankruptcy (AiB) has announced that it is recommending to Scottish Ministers that it introduces the Standard Financial Statement (SFS) for assessing the income and expenditure of debtors from October 2018. The Standard Financial Statement has been introduced across the UK as a unified method for assessing a debtor’s…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: (E) EXCLUSIVE LTD 100% VEGAN LTD 191 CIVIL ENGINEERING LTD 1EASYCALL LTD 1ST 4 CONSTRUCTION LTD 1ST CITY MOVE LTD 1ST DRYWALL SOLUTIONS LTD 21 SPICES LTD 3 NATIONAL SECURITY LTD 3E PEOPLE PERFORMANCE LTD 3J WHOLESALE…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09247906 LTD 10294997 LTD 123 RENTALS LTD 360 LOCATIONS LTD 4 PROPERTIES LTD A. GULEC CONTRACTORS LTD A.P.L.E. (OXFORD) LTD A&O CONSULTANCY LTD ABBA NORTH EAST LTD ACA A LTD ACCESSORY TRADING LTD ACCIDENT LAWYERS LTD ACCRUED EQUITIES…
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Administration notices have been issued and advertised in the London Gazette for the following companies: A TEAM DISTRIBUTION LTD AAA LINEN SUPPLIES LTD AB ABRASIVES LTD ABRASIVE BLADES LTD ACORN FIT OUT LTD AGE CONCERN NEWCASTLE UPON TYNE ALMAREN HOMES (ANGLIAN) LLP ALMAREN HOMES (CAMBRIDGE) LTD ALMAREN HOMES LTD ALMAREN LTD ALPHA BUILDING SERVICES (SOUTH) LTD…
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The SME market is booming. Initiatives like the Bank Referral Scheme and deals made last year between the government and some of the UK’s largest banks to ramp up support to SMEs mean they are finally, after being so neglected post-2008, getting the financial support they need to thrive. Because of this progression, the regulatory…
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Underwriting a new Invoice finance deal is said to be the point of greatest risk for the lender. Saying “no” is easy but will not grow your business, and there will still be uncertainties no matter what analysis you have done. 1. Fine tune your decision chain – can a deal be done? Move from…
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Yet again, the UK Government is looking into the issue of late payments. In this year’s Spring Statement, Philip Hammond, the Chancellor of the Exchequer, expressed his desire to investigate further how late payments can be eliminated. He announced a “Call for Evidence” into the issue. Influential trade bodies and small businesses welcomed the initiative…
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Does your business charge late payment interest on overdue invoices? It’s one of many useful tools that businesses have in their fight against late payment, yet many fail to utilise it. According to research from the Federation of Small Businesses (FSB), 84% of small businesses have been paid late for a product or service. Not only…
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Half of businesses have faced issues with late payments in the last year, a new survey of 787 company directors reveals. The poll by the Institute of Directors shows that 3 in 10 business leaders see ‘excessively bureaucratic payments system’ as the main reason for late payment and just over a fifth said it was…
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Almost one year on since the introduction of the Apprenticeship Levy, only 14% of business leaders who pay it think it is fit for purpose, a new poll by the Institute of Directors reveals today. As it stands, fewer than one in five will use Levy contributions to take on more apprentices than otherwise. The…
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Masthaven Bank has announced the appointment of Alan Margolis as Credit and Operations Director for the short-term lending side of the business. Alan has been appointed to the newly created role as part of Masthaven’s ongoing expansion and brings over 20 years of financial services experience, particularly within the short-term lending sector. Margolis will be involved…
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