Credit, Collections & Insolvency News
More small businesses expect to downsize or close than grow over the next 12 months, according to a survey by the Federation of Small Businesses (FSB). In the first quarter of the year nearly half of small businesses (48 per cent) expected to grow over the coming year, while only around one in six (18…
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Four in ten (39%) senior financial professionals working in the UK say the country’s dominance in financial services has weakened in recent years, according to research by CRIF. As a result, nearly half (44%) say they no longer consider the country a global leader in financial services, with the top reasons behind this including Brexit’s…
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Latest ONS data has shown that GDP unexpectedly fell by 0.1 per cent in May, marking a second consecutive monthly decline. This follows April’s decline of 0.3 per cent and underscores the challenge the Government’s faces in terms of the overall economy. Manufacturing, retail, and energy sectors saw notable drops, including weaker car production and…
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A record 128,000 households are living in temporary accommodation in England, an increase of 160 per cent since 2010, as support for lower-income families through social housing and the benefit system continues to decline, according to new Resolution Foundation research. With the creation of affordable homes being one of the Government’s central milestones, the Foundation’s…
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The Money Advice Liaison Group (MALG) has announced that it has appointed Fiona Hoyle as its new Chair. Hoyle is the Head of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA) and has been on the board of MALG for four years. She replaces former MALG Chair Paul Smee, also…
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The British Beer and Pub Association (BBPA) has warned that one pub will close every day this year, with a projected 378 closures across England, Wales, and Scotland. The industry body, which represents more than 20,000 pubs, estimated that the pub closures would amount to more than 5,600 direct job losses. The BBPA says that…
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Business confidence in the UK has fallen to its lowest level in three years according to ICAEW’s Business Confidence Monitor. Tax worries, weakening economic conditions and growing global volatility pulled UK business confidence deeper into negative territory in Quarter 2. The research put confidence at -4.2 on the index, its weakest reading since Q4…
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The Consumer Council for Water (CCW) is concerned that Ofwat’s decision to change the billing accuracy requirement in the Customer Protection Code of Practice (CPCoP) will negatively impact business customers. The consumer watchdog strongly believes the change to the code, which now states that retailers only need to issue one customer bill a year based…
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The Financial Conduct Authority’s (FCA’s) annual report has shown that over 1,600 websites suspected of promoting financial services without permission were suspended, removed or blocked in 2024. The regulator also collaborated with big tech platforms, resulting in over 50 apps being removed from Google Play and the App Store, helping the regulator to block fraud at…
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Latest Government statistics have shown that in April 2025, 469,780 Universal Credit households were affected by the two-child limit policy: that is, they had a third or subsequent child born on or after 6TH April 2017. This was an increase of 13,520 (3%) from the total number of households affected on either Universal Credit or…
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New research by Aviva and Age UK has found only half (48%) are confident they are on track to make their private pension savings last for life. Just over a quarter (26%) reported feeling financially secure, with women (19%) feeling less financially secure than men (32%). The research surveyed 1,000 mid-retirees aged 65-75 who have…
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Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows. The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but…
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Debt charities are calling for a fundamental overhaul of the personal insolvency system in England and Wales, warning that current debt remedies are no longer working for people in crisis or for creditors. In a new joint paper Citizens Advice and the Money Advice Trust, the charity that runs National Debtline, have set out a…
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