Credit, Collections & Insolvency News
New figures from HMRC show that close to one in three employers will be hit by changes to the furlough scheme from today, the same moment at which repayments of deferred VAT start to fall due and business rates exemptions for hardest-hit firms are lost. A wider ONS business survey, also released today, shows that…
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The Government has proposed legislation that will see consumers and businesses granted the legal right to withdraw and deposit cash within “a reasonable distance” of their home or premises. Analysis suggests that cash remains a necessity for at least 8m people, and while UK Finance data shows that the number of payments made with cash…
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StepChange debt charity has announced the appointment of Yvonne MacDermid as a Trustee. MacDermid has been involved in credit and debt matters for almost 34 years. She was until recently Chief Executive of Money Advice Scotland, a role she held for almost 24 years. A respected author and speaker, MacDermid is a Non-Executive Board Director…
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New research from Metro Bank has shown that only four in ten (39%) SMEs have witnessed an increase in revenue since the easing of lockdown on 17th May. With the Government’s 100% business rate relief ending on 1st July, many small businesses are calling for an extension to the deadline The 100% business rate relief…
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Household spending fell by 11% in the first quarter of 2021 according to the latest Office for National Statistics (ONS). The ONS Consumer Trends report revealed that household spending tumbled 11% in the first quarter (Q1) of 2021, compared to the same period last year. The report shows that hotels and restaurants were hardest hit:…
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Analysis of official data by real estate advisers Altus Group shows that companies owe English local authorities almost £2.5 billion in unpaid business rates, with the pandemic and subsequent restrictions driving up debt piles. The increase in rates arrears comes despite the Government offering retail, leisure and hospitality companies a rates holiday since the onset…
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Global technology provider, Trade Ledger has announced three senior appointments, further underpinning its ambitious expansion plans. Already in 2021 the company has announced major customer wins and secured further funding. Jarrad Hubble joins in a new role of Chief Revenue Officer for Trade Ledger’s global operations. Rikard af Ekenstam has been appointed as Managing Director,…
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