Credit, Collections & Insolvency News
An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
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The Chartered Institute of Credit Management (CICM) and the Federation of Small Businesses (FSB) have launched a new guide to support small businesses in managing cash through Brexit. The guide is titled Managing Cash Through Brexit guide to highlight the basic principles of cashflow and credit management to help steer businesses through the current uncertainty. The guide…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: 3D RECYCLING LTD 3SIXTY SYSTEMS LTD ABBEY DELIGHT LTD ABC ALPHA BUSINESS CENTRES UK LTD ABC ALPHA BUSINESS CENTRES VI UK LTD ADDITIVE LTD AGRIGUARD LTD ALBERT & MICHAEL HEATH LTD ALL LEISURE HOLIDAYS LTD AMS RETAIL INTERIORS LTD ANFIELD BRECKSIDE…
Read moreWinding up Petitions have been issued and advertised in the London Gazette for the following companies: ADVANCED WATER AND WASTE LTD AGENCY MOBILE (LONDON) LTD ALBUMCARDS LTD APEX STRUCTURES LTD APPLE SERVICES LTD ARMS SECURITY LTD ART REVIEW LTD ASTRO DEVELOPMENTS LTD BARCAM FACADES LTD BENTON PLANT LTD BRIGHTFIRE CONSTRUCTION GROUP LTD BRITANNIA SECURITY & MAINTENANCE…
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UK business failures will rise by 5% in the next 12 months as the economic slowdown, rising input prices and increased late payment risks begin to take their toll, according to Euler Hermes. This is in sharp contrast with the rest of the continent, where insolvencies will fall by 4% in Western Europe and 1%…
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The HMRC collected £178 million via its Annual Tax on Enveloped Dwellings (ATED) last year. This is up by £62 million (53%) on the amount collected the previous year, says Collyer Bristow, a leading private client law firm. Collyer Bristow explains that ATED was first introduced in April 2013 and is payable on high-value UK residential property…
Read moreThe latest Corporate Insolvency statistics from The Insolvency Service have been released. The report shows that the total number of company insolvencies was higher in 2016 than the previous year, primarily caused by 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The underlying number of company insolvencies…
Read moreAdvanced Collection Systems (ACS) has appointed Robert Anthony as Business Development Manager. Lisa Phillips, Managing Director of ACS, commented, “We have exciting plans for the next 3 years and partnership with Robert will help develop these. Robert will work with ACS as business development manager responsible for leading the growth of our consumer CCA regulated…
Read moreOfgem has announced that British Gas Business is to pay £9.5 million in redress, following failings in its registrations, complaints handling and billing processes for business customers. British Gas Business implemented a new IT billing system in March 2014 which left tens of thousands of its business customers with delayed and inaccurate bills. Over 6,000…
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Anglia UK, is celebrating two decades of solid growth by employing new staff. Anglia was set up by Managing Director Mark Scotney in 1997 as a small firm specialising in vehicle repossessions for the car finance industry. Since that time it has grown steadily to the point that it now employs 85 people with an annual…
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Citizens Advice has launched a brand new league table allowing millions of small business owners to compare how well energy suppliers are handling their complaints. The new ranking – which will be published quarterly – measures how effectively energy suppliers are dealing with complaints from small business customers across Great Britain. It follows the charity’s…
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HMRC recovered an extra £3.17billion in underpaid VAT from large businesses as a result compliance investigations undertaken by the Large Business Directorate over the last year* says Pinsent Masons. Pinsent Masons says that although this is slightly less than the £3.38billion it collected the previous year, VAT enquiries are by far the highest yielding area…
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New analysis from KPMG reveals that 2016 saw the reversal of a six year downward trend in levels of insolvency for British businesses, following an uptick in companies entering into administration in the second half of the year. The numbers, taken from notices in the London Gazette, show that 1,174 companies, or groups of companies,…
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