Credit, Collections & Insolvency News
A survey of hospitality businesses has found that 70% plan to reduce employment amid increases to tax and wages, while 60% expect to cancel planned investment and 29% will reduce trading hours to cut costs. The British Beer and Pub Association, the British Institute of Innkeeping, Hospitality Ulster and UKHospitality are highlighting the strong record…
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More than 10,000 additional cases of suspected Covid loan fraud have been identified following a government review of settled loans. The British Business Bank review of loans which had been defaulted on and settled by the Government shows that the number for the 2023 financial year has almost doubled from 16,846 to 31,437. The fraudulent loans for…
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A delivery driver who spent Covid loans, which he was not entitled to on drugs and gambling has been sentenced. Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than £65,000. He then claimed to have assets of only £100 despite withdrawing almost…
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Research published by the Building Societies Association has shown that three-quarters (73%) of UK adults with Cash ISAs are against the Government scrapping or reducing Cash ISAs. Just 8% were supportive, and the others didn’t have an opinion either way. The analysis highlights that the majority of UK savers who currently save in Cash ISAs…
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Energy regulator Ofgem has announced a 6.4% increase of the energy price cap for the period covering April to June 2025. The energy regulatror says that a recent spike in wholesale prices is the main driver of today’s price rise, accounting for around 78% of the total increase. A small increase in policy costs and…
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