Credit, Collections & Insolvency News
PKF Littlejohn has expanded its footprint in the North West with the launch of a dedicated restructuring practice in Manchester, welcoming three Partners to lead the new team. Paul Smith brings extensive board-level experience as a transformation leader and trusted advisor. A Fellow of the Institute for Turnaround, he has worked with a wide range…
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The boss of four companies, which owed HMRC more than £1 million, including £400,000 in VAT they falsely reclaimed, has been banned as a Director. Hassan Waqar was the director of HN Restaurants Limited, Kiani Construction Limited and Moneemint Ventures Limited when they submitted falsified documents to HMRC. A fourth company, Zoya Investments Limited, failed…
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Latest figures published by the Ministry of Housing, Communities, and Local Government show that council tax arrears have increased by over £600 million, with total debt reaching £6.6 billion, an increase of over 80 per cent since before the pandemic. The data reveals 400,000 more households fell into council tax arrears between 2022 and 2024, with 1.8…
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Barclays UK has announced that it has appointed Roland McCormack as its Head of Mortgage Intermediaries. The newly created role is a senior leadership position that reflects the bank’s broker-first approach and its continued commitment to the intermediary market. As Head of Mortgage Intermediaries, McCormack will be responsible for leading Barclays’ intermediary channel strategy, delivering…
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The vast majority of businesses using AI say the technology has helped them to boost their productivity and profitability according to new research from Lloyds’ Business Barometer. The data showed that of the 59% of UK companies currently using AI, more than three quarters say it has improved their productivity (82%) or profitability (76%). Productivity…
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The Lending Standards Board (LSB) has announced it will close. The UK’s non-statutory regulator will begin a solvency wind-down of its business operations, scheduled for 31st October 2025. The LSB’s decision to close follows the withdrawal from registration by the UK’s largest high street banks, who said that the FCA’s Consumer Duty provided sufficient protection…
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A criminal has been sentenced at Inner London Crown Court to over a year in prison for operating a SMS Blaster to conduct a mass smishing campaign against victims with the intent to harvest their personal details to be used in fraud. The sentencing follows an investigation and arrest by the Dedicated Card and Payment…
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More parts of the economy saw higher activity levels in May, according to the latest UK Sector Tracker from Lloyds. Four of the 14 sectors monitored by the Tracker grew in May – two more than in April. Software services expanded at the fastest pace (55.8), while food and drink manufacturing (51.1) grew for the…
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Moving away from the Ofgem fixed price cap and towards a flexible system of energy pricing – where costs vary according to region and time of day – could reduce the price of electricity by 4p/kWh by 2040, offering households savings of £200 a year, on average according to Resolution Foundation research. The research notes…
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The Financial Conduct Authority (FCA) has released a discussion paper on mortgage market rules to help boost home ownership. The FCA says that first-time buyers, the self-employed and people borrowing into retirement could benefit from further possible changes to mortgage rules. The regulator says that the mortgage market has changed considerably over the years. First-time…
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Premium Credit research has found a surge in growth for the total amount it lends and number of customers it helps spread the cost of VAT, corporation tax and self-assessment tax payments. The number of customers using the Tax and VAT funding service has more than doubled in the past two years by 108% while…
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Payment defaults dip 1% on average across UK across all industry sectors from May 2024 to May 2025 according to latest research by Atradius. Despite continued inflationary pressure, high operating costs, and global economic uncertainty, some sectors are showing strong signs of resilience. The most notable year-on-year declines in payment claims (May 2024–May 2025) were…
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Fears about the future have become part of daily life for more than one in three (36%) young people across the UK, according to new research from Co-op and Barnardo’s. The survey. to over 2,000 people aged 10-25 found that just 30% said they believe they will achieve their dream job, while more than a quarter…
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