Credit, Collections & Insolvency News
The Government has announced new plans to tackle late payments, which it says is part of the most significant legislative reform in 25 years. Late payment is an issue that costs the UK economy £11 billion a year and shuts down 38 businesses every day Late payments are one of the biggest barriers to small…
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Nearly 500,000 SMEs say they have missed tax payment deadlines in the past three years with 19% of them admitting to missing five or more in the past 12 months, according to new research Premium Credit. The study with SME owners and managers found 9% of the UK’s 5.487 million SMEs have missed tax payment…
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British businesses are struggling to cover expenses, pay debts and invest in their businesses, as half have said cash flow is an issue for them (49%), with one in ten (10%) businesses admitting it is a significant issue, according to research from Shawbrook. 46% say their cash flow issues are primarily driven by an increase…
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The British Beer and Pub Association (BBPA) has warned that one pub will close every day this year, with a projected 378 closures across England, Wales, and Scotland. The industry body, which represents more than 20,000 pubs, estimated that the pub closures would amount to more than 5,600 direct job losses. The BBPA says that…
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Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows. The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but…
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New research by Capital on Tap has found that 46% of business owners don’t have a business credit card, with 54% of consumers actively avoiding them The data also showed that 36% of business owners have never owned a business credit card, and 54% of consumers said they actively avoid using credit cards. For business…
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Premium Credit research has found a surge in growth for the total amount it lends and number of customers it helps spread the cost of VAT, corporation tax and self-assessment tax payments. The number of customers using the Tax and VAT funding service has more than doubled in the past two years by 108% while…
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Payment defaults dip 1% on average across UK across all industry sectors from May 2024 to May 2025 according to latest research by Atradius. Despite continued inflationary pressure, high operating costs, and global economic uncertainty, some sectors are showing strong signs of resilience. The most notable year-on-year declines in payment claims (May 2024–May 2025) were…
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A survey of SME business owners and managers by Purbeck Insurance has found that three in four (77%) businesses are owed money by late-paying customers. On average, SMEs with ten or more employees across the UK are each currently owed £18k-£22K in unpaid invoices. The survey found that SMEs with 100-249 employees have the biggest…
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New data from Uswitch.com has found that the vast majority of SME owners (86%) believe that a subscription model can help improve cash flow management, offering a more predictable and manageable income stream. Nearly half of SME owners (46%) have already integrated subscriptions into their businesses. Whether they’re offering curated product boxes, regular services, or…
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A new report by the British Retail Consortium (BRC) has put cost pressures in the UK retail sector could lead to one in ten jobs being at risk by 2028. Since 2015, over 350,000 retail jobs have already been lost, a decline significantly larger than that in the steel industry. While the Government has…
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A new survey of hospitality operators from across the sector lays bare the impact of recent increases to employer National Insurance Contributions (NICS) and the changes to Business Rates on hospitality businesses. The effects are already so dramatic that Government targets, including ambitions to hit 80% employment and high street renewal, look doomed to fail…
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The number of overdue invoices on the books of Scottish businesses dropped to the lowest level in 2025 so far in April, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows Scottish businesses had a total of 602,822 overdue invoices on their books in…
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