Credit, Collections & Insolvency News
Reductions to business rates and National Insurance plus support with energy costs top concerns – as only 9% of small businesses looking to hire to support growth this summer As the UK welcomes a new Prime Minister and leadership team, 9 in 10 adults (90%) would like to see the Government do more to support…
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New Prime Minister (PM) Andy Burnham has announced a 20 per cent cut to business rates for pubs, clubs and live music venues from April. The move is expected to save a typical pub around £1,100 next year and benefit nearly 32,000 venues. The plans will be funded by cracking down on businesses like vape…
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A bogus care recruitment company that swindled overseas workers out of more than £19,000 by charging for visa sponsorship services it could not legally provide has been shut down. Medrecruiter Limited claimed to have nearly 6,000 carers on its books and be active in more than 500 care homes across the UK. In reality, Insolvency…
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Latest ONS data has shown that the UK consumer price inflation fell from 2.8% to 2.6% in the year to June, its lowest level since March 2025. The figure was below the 2.7% forecast and marked the third consecutive month in which inflation undershot expectations. Lower petrol and diesel prices, easing food inflation and clothing…
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More than half (52%) of SMEs are currently struggling to pay tax bills as the full impact of recent tax increases kicks in, new research1 from Premium Credit shows. The biggest tax bill issue currently is Corporation Tax, which more than a fifth (22%) say they are struggling to pay, while 12% say they struggle…
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Complaints escalated to the Consumer Council for Water (CCW) by business customers surged by almost a third, according to the watchdog’s annual Business Customer Complaints report. The 30% increase meant complaints to CCW from business customers about their water retailer rose from 1,966 to 2,562 in 2025/26 – reversing the positive progress seen in the previous year, when…
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A luxury car hire company which took thousands of pounds from customers and repeatedly failed to deliver vehicles or refund their money has been shut down. Classic Parade Ltd claimed to operate from an office in Knightsbridge, offering the hire of Ferraris, Lamborghinis and other supercars through its website. However, Insolvency Service investigations found a…
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Finance leaders have become progressively more optimistic about AI improving their own businesses’ performance, as 73% now report an improvement in AI optimism over the last 12 months, compared to 59% in Q4 2025 and 39% in Q3 2024. Nearly all CFOs (96%) expect to see a rise in investment in digital technology and assets…
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EY-Parthenon’s latest data has shown that FTSE retailers issued five profit warnings in Q2 2026, up from three in the first quarter of the year. This makes 2026 only the third year since 2007 in which the sector has recorded more warnings in the second quarter compared to the first. FTSE retailers issued a total…
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Andy Burnham has become the UK’s new Prime Minister, following a trip to Buckingham Palace after Keir Starmer formally resigned. In his first speech Burnham has set out his domestic priorities. Responding to the appointment of Andy Burnham and his first speech as the new Prime Minister of the UK, Jonathan Geldart, Director General of…
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A fraudster who illegally obtained five Covid loans at the height of the pandemic has been jailed. Cardiff-based Rupali Wagh fraudulently applied for £216,250 in Bounce Back Loans for her four companies between May and September 2020. The 50-year-old inflated the turnover of her businesses to secure the loans and used some of the funds…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 2% in May 2026 compared with the same month in 2025. In the first five months of 2026, new business was 5% higher than in the same period in 2025. The…
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The percentage of small businesses predicting growth has fallen to 24% – its lowest level for 12-years, with significant downturns in the construction (15%), retail (21%) and hospitality (21%) sectors. Whilst small business growth forecasts rose modestly in the north west, they fell in every other region of England and Wales – with the position…
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