Credit, Collections & Insolvency News
A collaborative working agreement between the National Association of Commercial Finance Brokers (NACFB), Towergate Insurance and Funding Circle, means that NACFB members can now arrange an unrestricted number of commercial loans with peer-to-peer lenders without jeopardising their insurance cover. Under the terms of the trade body’s membership, NACFB brokers must have professional indemnity insurance which…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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Following the Spring Budget announcement from Phillip Hammond, Markus Kuger, Senior Economist at Dun & Bradstreet has given his thoughts on what this means for UK Businesses and how they still need to be vigilant in light of Brexit. “In the latest spring budget, Chancellor of the Exchequer Phillip Hammond has announced his vision to make…
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With £820million of new anti-tax avoidance measures announced in today’s Budget, Andrew Tate, president of insolvency and restructuring trade body R3, says: The government needs to think more carefully about the impact its anti-tax avoidance tools have on those individuals affected. Tackling the abuse of the tax system is needed, but efforts to do so should…
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In 2016, insurance company Zurich found that more than 53% of Britain’s small and medium sized businesses (SME) have issues with late payments with 41% of those experiencing serious cash flow problems as a result. According to Zurich’s SME risk index, £225bn is owned in late payments to British SMEs and two-thirds of UK SMEs agree that…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 02 ENVIRONMENTAL SURVEYS LTD 10100442 LTD 1ST ALERT STEEL LTD A.J.’S COSTCUTTER LTD ABI BUSINESS SERVICES LTD ABUILDERS LTD AGL AVIATION LTD AGNI WHOLESALE LTD AGP STEEL STRUCTURES LTD AIS (MARINE) 2 LTD ALE WEB LTD ALLANSONS LAW LTD ALTERDERMA…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 142 TRADING LTD 350Z LTD 4D LEISURE LTD (CANNOCK) LTD 4U NATIONWIDE LTD 505 ASSOCIATES LTD. 57A LOGISTICS LTD 8 MILE RECRUITMENT LTD A & C LANDSCAPES LTD ACTIVE AIR LLP A G T C BIO PRODUCTS LTD A STEP ABOVE…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: A&R HUGHES (ACADEMY GARAGE) LTD ABBOT GRANGE LTD AGE UK BLACKPOOL AND DISTRICT AGENCY COMMUNICATIONS LTD ASTON STUDENT VILLAGE BLUCARS (BUGBROOKE) LTD BLUE CUBE BUSINESS LTD BRAKEWORLD LTD BRW SERVICES LTD CARING FOR YOU PTS LTD CIRCLE OIL JERSEY LTD CITADEL…
Read moreThe advantages of the fall in the value of sterling post-Brexit may not be able to overcome the other strong headwinds the sector faces, resulting in 1,800 UK hotel companies having at least a 30% chance of going insolvent within the next three years according to Moore Stephens. While a weaker pound may encourage more…
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Business failures across West Dunbartonshire have left a trail of debt. The council has written of £535,646 in unpaid business rates, the total amassed by firms across the area who have either dissolved or gone into liquidation Councillors on West Dunbartonshire Council’s corporate services committee agreed to write off the National Non Domestic Rates (NNDR),…
Read moreThe £15 million supplementary levy imposed on mortgage brokers by the FSCS will hit the best-qualified brokers hardest, says the National Association of Commercial Finance Brokers (NACFB). Rob Lankey, CEO of the NACFB, said “Of course we welcome any move that protects borrowers. The steps we’ve taken to embrace regulation have not been cost-free and our…
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The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreDespite over half (56%) of UK organisations being affected by fraud, confidence levels in fraud prevention techniques is remarkably high, reveals research from Callcredit Information Group. The Fraud & Risk report of 201 Fraud Prevention Managers and Directors, finds that a majority of businesses (75%) believe they are one step ahead of fraudsters, with a…
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