Credit, Collections & Insolvency News
The Government has been criticised for failing to collect £42bn in unpaid tax from businesses and individuals. The Public Accounts Committee (PAC) says HMRC is still not deploying the resources required to maximise the tax revenues it collects or provide an acceptable level of customer service. At a time of huge strain for the public…
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BDO is warning taxpayers who are in arrears that HMRC is expected to get much tougher when it comes to recovering tax debts in 2023. For the last two years, HMRC has waived late filing and late payment penalties for a month after the 31st January Self Assessment deadline to ease Covid pressures, but the…
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Financial education charity, The Centre for Financial Capability, is calling on the Government to intervene in the growing cost of living crisis, as households across the North of England in particular struggle to make council payments. New research published by The Centre has found that over the last five years, the number of households struggling…
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Credit Connect’s hosted its fifth Online Collections Technology Think Tank 3.2 last week which saw collections strategies and the impact of cost of living economic stresses discussed by twelve collections professionals from a variety of industry sectors. The themes of collections risk, customer engagement, affordability and the future of collections were discussed by panellists and…
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New analysis from Age UK has indicated that one-in-five (21 per cent) older households are living in poverty or just above the poverty line and/ or are in receipt of income-related benefits. The Charity is warning that these older households, which include some of the poorest and most vulnerable older people in England, will miss…
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Catherine Brown, the former Chief Executive of the Food Standards Agency and current Chair of environmental charity Hubbub, has been announced as the first Chair of the Enforcement Conduct Board. The Board is a new independent oversight body for the civil enforcement sector and will act to drive up standards, improve the effectiveness of enforcement…
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Fraud prevention service, Cifas is urging consumers to report fraud committed against the public purse as new research reveals one in ten people know someone dishonestly claiming a discount on their Council Tax Bill. Current rules mean any household with only one adult living at the address can claim a 25% discount on their Council…
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The Government is urging households across England to set up direct debits with their local council to receive a £150 council tax rebate that will help millions of families manage costs of living. People who pay council tax by direct debit, which is a safe, simple and quick way to pay will see the cash…
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The Online Collections Technology Think Tank 3.1 has confirmed its agenda and speaker line-up ahead of the event for Thursday (3rd February). The event takes place on a big day for cost of living announcements with Ofgem set to announce changes to its price cap limit and with the Bank of England potentially announcing an…
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New research by Which? has found that around 2.5 million households missed payments in January. According to the latest findings from Which?’s consumer insight tracker, an estimated 2.5 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2022. This marks a significant increase on December 2021,…
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Benefits will need to be hiked by twice as much as planned this spring in order to protect millions of the poorest in society from the impact of surging inflation according to new analysis by the Insititute of Fiscal Studies (IFS). The analysis shows poorer households tend to spend almost three times as much of…
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Here is an overview of The Money Charity’s latest statistics for November 2021 Personal debt in the UK People in the UK owed £1,749.2 billion at the end of September 2021. The average total debt per household, including mortgages, was £62,938 and per adult was £33,072, around 108.6% of average earnings. Net mortgage lending rose by…
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Here is an overview of The Money Charity’s latest statistics for October 2021 Personal debt in the UK People in the UK owed £1,745.7 billion at the end of August 2021. The average total debt per household, including mortgages, was £62,813 and per adult was £33,006, around 108.9% of average earnings. Net mortgage lending rose by…
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