Credit, Collections & Insolvency News
HM Revenue and Customs has launched a new hotline for the public to report fraud and evasion in the fight against tax fraud. This service will replace the two separate tax evasion and customs hotlines with one, streamlining HMRC’s intelligence gathering on tax fraud. Customers can report all kinds of tax fraud and evasion on the…
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New figures from the Association of British Insurers (ABI) reveals that trade credit insurers paid businesses the equivalent of over £4 million in claims every week last year. The ABI’s annual trade credit insurance statistics highlight that: Total claims paid to businesses due to non-payment in 2016 was £210 million, the equivalent of over £4…
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Three new alternative lenders have joined the recently launched Association of Alternative Business Finance (AABF) – Invoice Cycle, Merchant Money and Reward Finance Group. The AABF was launched on 1 February this year with the major ambition of championing and promoting the best standards of industry practice. The seven founding members, Capify UK, Catalyst Finance, Credit4,…
Read moreFour-fifths of the gains from tax and benefit changes coming into effect later this week (6 April) will go to the richest half of households, with the poorest third of households set to be £70 worse off on average, according to a new briefing note published by the Resolution Foundation. The analysis looks at the…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: (BE)SPOKE DERBY LTD 189 PICCADILLY LTD 1DS SOLUTIONS LTD 1GAS & POWER LTD 2GEN MOTORS LTD 3X3 SOLUTIONS LTD 4 COUNTIES FARM SERVICES LTD 434 THE PLEDWICK WELL INN LTD 52N RESOURCING SOLUTIONS LTD 63 DEGREES LTD 7074 LTD A &…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 4FRONT CLEANING LTD A & D HOMES LTD A & R HEATING & PLUMBING LTD A M GAS SERVICES AARON WEBSTER LTD ABSOLUTE HOME TEXTILES LTD ACTIONWAY LTD AE SYSTEMS LTD AERIAL CREATIONS LTD AGILE CONVEYANCING SEARCHES LTD AGP STEEL…
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Administration notices have been issued and advertised in the London Gazette for the following companies: 19 – 20 POLAND STREET LLP 1ST CLASS LEGAL (IS) LTD 4ENERGY LTD 99P STORES LTD A. JONES & SONS LTD ABSOLUTE HOME TEXTILES LTD ADRIAN PHILLIPS PROJECTS LTD AFC ANODISING & POWDER COATING LTD AGENT PROVOCATEUR LTD ALBURY PARK MANSION…
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Online invoice peer-to-peer specialist MarketInvoice has announced the appointment of Shaun Alexander as Head of Risk. Alexander is a highly regarded senior management level professional with over 30 years’ experience in retail and corporate banking, namely at Barclays and Santander, where he led teams focussing on asset-based lending and business finance. Alexander began his career at Barclays in…
Read moreExtra Energy has come bottom of Citizens Advice’s Energy complaints league table for small business customers for the second quarter in a row. The ranking table which was launched in January by Citizens Advice measures how effective energy suppliers are dealing with complaints from small business customers across Great Britain. Citizens Advice says good customer service from…
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Bradford & Bingley plc (B&B), part of UK Asset Resolution (UKAR), today confirms that following an open and competitive process it has agreed to sell two separate asset portfolios comprising performing buy to let loans for a total of £11.8bn to Prudential plc and to funds managed by Blackstone. Financial completion is expected within the…
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Restructuring and advisory work is an increasingly important focus for professionals who advise insolvent businesses, according to a survey by insolvency and restructuring trade body R3. A large majority (68%) of respondents said that demand for advisory work had increased in recent years, with over half saying this is because awareness of business rescue options has…
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Commenting on figures published by the ONS today (Friday), which shows that unsecured borrowing is at its highest level (as a share of household income) in 8 years, TUC General Secretary Frances O’Grady said: “Today’s figures should set alarm bells ringing. The last thing our economy needs right now is another consumer debt crisis. But…
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With the announcement that the new debt pre-action protocol (PAP) has been approved and the implementation date set for 1 October 2017, debt recovery specialists are examining what the changes will mean for creditors and debtors. The main departure from the previous regime is that sole traders are now to be considered an individual rather…
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