Credit, Collections & Insolvency News
Debt advisory specialist, Azets, has announced two appointments with Matt Garside joining as Scotland’s Director, and Lyle Ammon, who joins as Director for the South region this week.. Garside will work out of the Edinburgh office, covering the Scottish region, and joins from Skipton Business Finance. His financial services career includes Virgin Money (Clydesdale Bank),…
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Adverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the Financial Conduct Authority (FCA) logo without permission have been banned by the FCA. Conclusive Financial Ltd (Conclusive), a claims management company (CMC) which also trades as PCP Refunds, was required to remove its advertising…
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The owner of two firms, which installed fire alarms, has been banned as a company director after paying almost nothing of the more than £300,000 owed in tax. Alex Shorthose caused Siamo Fire and Security Limited and Alex Fire and Security Limited to run up VAT and PAYE debts of £185,538 and £142,092 between December…
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Accountants and financial advisers warn that clients are increasingly struggling to pay tax bills with Corporation Tax the biggest concern, new research* from Premium Credit, a leading provider of finance for businesses, shows. The number estimating that at least 15% of clients found it difficult to pay tax bills (37%) has more than doubled from…
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British households reduced non-essential spending last month due to rising fuel prices and uncertainty from the Iran war. According to Barclays’ consumer spending report, fuel spending rose 1.6% year-on-year, pushing essential spending up by 0.5%. However, non-essential spending growth slowed to 1.1%, with travel spending down 3.3% due to flight disruptions. Consumer card spending increased…
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The Financial Conduct Authority (FCA) has outlined new measures that aim to give consumers and businesses greater control over their financial data to help secure better deals. The FCA says that open finance will unlock the potential for people and businesses to share their financial data securely with a range of financial services providers, helping…
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Rising energy prices caused by the war in the Middle East will cause a drop in living standards for households, according to new analysis by the Resolution Foundation Despite some lower-income households receiving a long-overdue real-terms increase in their benefits, we now estimate – based on market-forecasts for the rise in energy prices consistent with…
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Business lender 365 Finance has reported a sharp rise in the demand for funding from high street businesses, with a staggering 43% increase in restaurants opting for revenue-based finance when comparing Q1 2026 in-house data to Q1 2025. Among SMEs in the hospitality industry that increasingly seek finance, the owners of pubs and bars are…
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IDenteq has announced that it has appointed Nisha Korpal as Chief Growth Officer. Korpal brings over 18 years of experience across data, software and financial services, with deep expertise in credit risk and collections, and a strong track record of scaling digital customer solutions, translating complex data into actionable insight, and driving sustained commercial growth…
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Retail footfall in the UK increased by 2.4% in March, driven by Easter shopping, according to the British Retail Consortium (BRC). However, this boost fell short of retailers’ expectations. Total UK footfall increased by 2.4% in March (YoY), up from -4.7% in February. High Street footfall increased by 2.0% in March (YoY), up from -5.4% in…
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Neither the Covid-19 pandemic nor the cost-of-living crisis produced significant deterioration in average collections on established paying portfolios, according to analysis by credit management firm Intrum. Using advanced econometric techniques, Intrum examined the performance of proprietary portfolios of defaulted debt between 2016 and 2025. The analysis examined the influence of macroeconomic variables (such as real…
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Business optimism among UK CFOs has fallen to a six-year low, according to Deloitte’s latest survey of Chief Financial Officers (CFOs). CFO confidence fell to a net -57% from -13% in the previous quarter, with concerns around energy prices, inflation and interest rates surging in the wake of the situation in the Middle East. As…
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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 5% in February 2026 compared with the same month in 2025. In the first two months of 2026, new business was 1% lower than in the same period in 2025. The…
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