Credit, Collections & Insolvency News
A hike in the interest rate charged for late payment of taxes means that customers who fail to pay their taxes on time will face a 7.75% late payment fee, up from the current rate of 7.5%. Quarterly instalment payee will see the change come into effect on 14th August, while for non-quarterly instalment payments,…
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Latest GDP figures have shown that the economy grew 0.5% in June and 0.2% between April to June according to official data from the Office for National Statistics (ONS). The ONS said the struggling manufacturing sector has experienced a modest rebound in the second quarter and that the economy benefitted from the effects of May’s…
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Latest GDP figures have shown that the economy grew 0.5% in June and 0.2% between April to June. The struggling manufacturing sector experienced a modest rebound in the second quarter and with the economy benefitted from the effects of May’s extra bank holiday. The Bank of England said last week that it expected annual growth…
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The Government has launched a new bespoke energy advice service to help thousands of hard-to-reach households save on bills. The new measures will mean that more than 125,000 consumers to receive face-to-face advice on home efficiency upgrades and new advice services, backed by £20 million of government funding to try and help those in hard-to-treat…
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A new report by Creditfix has revealed the average Premier League supporter is spending over £3,000 per season, and up to 13% of their annual salary, to follow their team. Creditfix compiled six common football expenses for each club for the season: the minimum cost of an adult season ticket, relevant TV subscriptions, cost of…
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The Bank of England has published the 2022 Annual Statistics for the credit union sector which revealed a record level of British credit union members, as well as the highest lending amounts ever seen. There was also the steepest rise in lending on record between 2021 and 2022. Total membership for 2022 was 1.41 million,…
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A former Halifax footballer has been jailed for 27 months for illegally acting as a company director Stephen Oleksewycz acted as director of an events promotion business whilst an undischarged bankrupt, and also committed fraud offences. Oleksewycz from Halifax, was sentenced to 27 months imprisonment, at Leeds Crown Court for fraud offences and acting as…
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A sharp rise in tax payments and cuts to energy subsidies in the UK were to blame for a steep fall in household incomes during the first three months of the year, according to the Organisation for Economic Cooperation and Development (OECD). In a review of its 38 member states, the OECD said the UK…
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