Credit, Collections & Insolvency News
The FinandilcConduct Authority (FCA) has fined Pembrokeshire Mortgage Centre Limited (PMC) (trading as County Financial Consultants) (in liquidation) £2,354,331 for unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes. The FCA’s view is that most people should keep the guaranteed income provided by…
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Fraud prevention service, Cifas is urging the Government to take action as cases of fraud continue to rise – raising concerns that 2023 may see the highest ever levels of fraud recorded. Latest figures reveal that there were over 309,000 cases recorded to the Cifas National Fraud Database, up 17% when compared to the same…
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With the Office for Budget Responsibility forecasting that the UK economy will be in recession until the third quarter of 2023*, new research from Novuna Business Finance has found that the prospect of stormy seas ahead in the coming year is prompting eight in 10 small businesses to take fortifying action. The research tracked the…
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The amount that restaurant business owners have been forced to lend to their own businesses has increased 12% in the past year, from £377 million in 2020/21, to over £424 million in 2021/22, according to audit, tax and advisory firm, Mazars Rising costs and falling restaurant sales has meant that more restaurant owners are having…
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The latest economic forecast from the Confederation of Business Industry predicts Britain’s economy will shrink 0.4% next year as inflation remains high and companies put investment on hold. The expected 0.4% fall in GDP is a downgrade from its previous forecast of 1% growth set in June. Business investment is expected to slump by 9%…
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