Credit, Collections & Insolvency News
There was no festive cheer for retailers as December rounded off as the worst year for consumer spending since 2012 according to new research by Visa. Commenting on the data, Mark Antipof, Chief Commercial Officer at Visa said “Christmas rounded off a lean year for retailers with consumer spending seeing its first consistent 12 month…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09753626 LTD 1ST NATION LTD 365 ENERGY LTD A G M (RIVERSIDE) LTD A&G DESIGN & BUILD LTD ABBOTT & SON ELECTRICALS LTD ABSOLUTE EVENT SOLUTIONS LTD ACQUISITION 395445593 LTD ADAM MOTORS LTD AEJIS LTD AGRO FOOD LTD…
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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…
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Tackling the late payment culture that devastates thousands of small businesses each year must be at the top of the Government’s domestic agenda for 2018. In his New Year message, Mike Cherry, National Chairman of the Federation of Small Businesses (FSB) called on the Government and its new Small Business Commissioner to make 2018 the year…
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Nearly 45,000 retailers are in financial trouble this Christmas as rising inflation and the squeeze on household budgets are having an impact on high street spending. There has been a 22 percent increase in retailers facing ” significant financial distress”, according to a survey by the advisory company, Begbies Traynor. The furniture chain Multiyork collapsed…
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The government has annnounced that it has launched a complaint handling service of the Small Business Commissioner to ensure fair payment practices for small businesses. This follows the appointment of Paul Uppal to the role of Small Business Commissioner. Regulations made by Small Business Minister Margot James mean the Commissioner can now handle complaints from small…
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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 moreWinding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 10141715 LTD 2028 X LTD 53 CAPITAL TRADE LTD A F REPROGRAPHICS LTD A-B-A-C-U-S FRANCHISING COMPANY LTD A1 SOUTH LTD ACE SCAFFOLDING SERVICES LTD ACH GROUP MANAGEMENT LTD ACORNFORD ESTATES (NORTHERN) LTD ACQUISITION 395445642 LTD ACTONVILLE CONSULTANTS LTD…
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SMEs in the UK are missing out on over £250 billion of cash flow every year due to late payments to SMEs through invoices and associated costs according to a new report by Siemens Financial Services. The report emphasised how integral SMEs are to the UK economy. SME’s growth is being unfairly stunted by large numbers…
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The Supreme Court handed down a judgment in the case of Tiuta International Limited (in Liquidation) v De Villiers Surveyors. The question before the Supreme Court was: can a lender recover all its loss on a refinance loan from a negligent valuer, or is the lender limited to the “top up” advanced after the existing…
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The percentage of Scottish companies which report that they are benefiting from at least one sign of growth may have taken a tumble in recent months, according to new research by insolvency and restructuring trade body R3. The indicative research, part of a long-running survey of business distress by R3 and BDRC, estimates that the…
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Research reveals internal processes and a lack of automation are top causes of late payments to suppliers, above cash flow constraints. Slow internal processes and a lack of automation are among the biggest challenges for businesses when it comes to paying their suppliers on time, according to new research by Tungsten Network and the Institute of…
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The Manufacturing sector has seen a dramatic fall in confidence in the third quarter, as Brexit talks stall and business organisations warn of increasing uncertainty across the UK. Figures in the Q3 2017 UK Credit Managers’ Index (CMI), a quarterly barometer from the Chartered Institute of Credit Management (CICM), shows a 10.6-point fall in confidence…
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