Credit, Collections & Insolvency News
The Federation of Small Businesses (FSB) has warned an EU-wide ban on preventing credit card charges from being passed on to customers presents a “double-edge sword” for small businesses and called on policymakers and businesses to work together to bring down the charges. UK companies will no longer be able to pass on the fees…
Read more
SA Insolvency, which has practices in Worcester, Hereford and Northampton, has agreed to merge with Benedict Mackenzie. The new business will be branded as Benedict Mackenzie. Director Sanjay Swarup said the two firms brought together more than 20 years of experience of providing insolvency and advisory services. “The scale will allow for better service, with…
Read moreNine companies which had provided services to directors of insolvent companies, have been placed in provisional liquidation. The actions follow an investigation by the Insolvency Service The companies names Rigil Kent Acquisitions Ltd; Rigil Kent Corporate Acquisitions & Turnaround Ltd; Rigil Corporate Rescue Ltd; Rigil Kent Group Ltd; RK Acquisitions Ltd; RK Corporate Rescue Ltd;…
Read more
SMEs could for the first time be paying a higher effective rate of tax than bigger businesses, according to research by Moore Stephens. The effective rate of corporation tax* paid by SMEs (businesses with a turnover of less than £25m) was 21.7% in 2016. This is higher than businesses with a turnover of more than £1bn,…
Read more
Bibby Financial Services (BFS) has appointed Kash Ahmad as UK Specialist Director as it looks to grow its support for businesses trading domestically and overseas. Joining BFS with more than 25 years’ experience in the financial services sector, Kash has held a range of senior executive positions throughout UK, the Middle East and Asia, supporting SMEs, mid-market…
Read more
Irish SMEs are writing off €1.7 billion every year due to bad debts, according to a new report by Bibby Financial Services. Bibby said the firms are losing the money due to customers not paying bills, or customers becoming insolvent. The Global Business Monitor report from the firm found that an average of €13,780 is…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 07428380 LTD 08161993 LTD 4 YES LTD A & J SALES MARKETING AND CONSULTANCY LTD A C MORRIS BUILDERS LTD AAYA LTD ACH GROUP MANAGEMENT LTD ACORN BUILDING CONTRACTORS LTD ACURATE SECURITY SERVICES LTD ADAM WATER LTD…
Read more
The HMRC has announced that taxpayers will no longer be able to pay their tax bills by credit card. A letter sent out to taxpayers last month confirmed that HMRC would “no longer accept payment by personal credit card”. Coming into force from 13th January, the ban leaves those completing their annual tax returns just eighteen…
Read more
A new corporate supply chain finance platform has launched, which aims to improve credit management and provide additional transparency, security and flexibility for banks and their corporate customers. The new platform is called Monimove, and aims to enable banks to create new revenues and be able to track approved funds, optimising their liquidity management in…
Read more
The number of Scottish companies at higher than average risk of insolvency rose markedly over the course of 2017, according to insolvency and restructuring trade body R3. In December, 26.6% of Scottish firms fell into the category of companies at greater than usual risk of insolvency, up by 36% from January 2017, when the equivalent…
Read moreAsset finance provider, Haydock Finance has announced that Apollo Global Management has signed an agreement to acquire a majority shareholding in th company, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018. Established in 1980, Haydock is one of the…
Read more
AIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
Read more
Data Interconnect has announced background to a major financial investment, in a move that supports a hefty growth strategy, using research and development (R&D) as a strengthening resource. Tom Dodd-Noble, Managing Director of Data Interconnect said “Investing in growth isn’t just important for the long-term success of our business – it’s also important for the…
Read more