27th June 2025 - Credit Connect

Living standards outlook for UK households is bleak

27th June 2025 Consumer Collections | #household finances

A new report from the Resolution Foundation has found that the average UK household will see income grow by only 1 per cent, around £300, between 2025 and 2030, whilst the poorest families may see a 1 per cent decline in living standards. The Foundation says the outlook for living standards across Britain is bleak.…

Third of Gen Z and Millennials aren’t confident in financial situation

27th June 2025 Consumer Collections | #financial management

Almost a third of Gen Z (31%) and Millennials (28%) aren’t confident managing their current financial situation according to new research from the Investment Association. Money is a taboo topic for many with people more likely to discuss politics and current affairs (50%) than money and finances (29%) at the dinner table, according to new…

Over eight million people are using BNPL for purchases under £50

27th June 2025 Alternative Consumer Lending | #BNPL #shopping

New research from TransUnion UK has revealed that over eight million people are using Buy Now Pay Later (BNPL) for items under £50, whilst 4% put purchases under £25 on this short-term credit. Over a quarter (26%) of people now prefer to use BNPL over credit cards for everyday spending, with 18 to 24-year-olds (20%)…

Construction is the leading sector using credit to fund insurance premiums

27th June 2025 Alternative Business Lending | #business credit #business insurance

New analysis from Premium Credit has shown that the Construction sector borrows the most to fund insurance premiums. The Professional and Scientific sector saw the most growth in terms of using credit for insurance. The data showed that 54% of SMEs use some form of credit to pay for insurance premiums, borrowing an average of…

PKF Littlejohn appoints three Partners

27th June 2025 Appointments |

PKF Littlejohn has expanded its footprint in the North West with the launch of a dedicated restructuring practice in Manchester, welcoming three Partners to lead the new team. Paul Smith brings extensive board-level experience as a transformation leader and trusted advisor. A Fellow of the Institute for Turnaround, he has worked with a wide range…

Director banned owing HMRC more than £1m

27th June 2025 Commercial Credit Management |

The boss of four companies, which owed HMRC more than £1 million, including £400,000 in VAT they falsely reclaimed, has been banned as a Director. Hassan Waqar was the director of HN Restaurants Limited, Kiani Construction Limited and Moneemint Ventures Limited when they submitted falsified documents to HMRC. A fourth company, Zoya Investments Limited, failed…

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