Credit, Collections & Insolvency News
Tandem Bank has announced that it has appointed Neil Chandler as its new Chief Executive Officer (CEO), subject to regulatory approvals. Chandler brings a wealth of leadership, banking and tech experience to Tandem, spending more than 30 years in senior banking, eCommerce, retailer finance and technology roles. He most recently served as CEO of digital…
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HelpHub, a new support platform, has officially launched to provide organisations with a low-cost way of providing free, easy-to-access help for their customers across the UK. The tool’s AI matches vulnerable customers to a set of tailored, free support recommendations from over 75,000 service options across the charity sector and local government. The platform also…
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A survey of SME business owners and managers by Purbeck Insurance has found that three in four (77%) businesses are owed money by late-paying customers. On average, SMEs with ten or more employees across the UK are each currently owed £18k-£22K in unpaid invoices. The survey found that SMEs with 100-249 employees have the biggest…
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More than 7,000 British businesses are set to see their electricity bills slashed by up to 25% from 2027, as the Government unveils its new Industrial Strategy. Lowering energy costs for thousands of businesses by exempting them from some green energy levies will be the central part of the refroms. The modern Industrial Strategy sets out a…
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The Government has announced changes to the administration of council tax with an aim to modernise the billing process to make it fairer, simpler and more supportive. To help vulnerable families manage bills, the Government intends to move billing to 12 monthly payments by default, rather than the current 10 monthly, this will spread the…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 0.5% in May 2025 to a total of 10,014 compared to April 2025’s total of 10,060, and increased by 5.5% compared to May 2024’s figure of 9,493. The personal insolvencies consisted of 648 bankruptcies, 3,783 debt relief orders…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales increased by 7.9% to 2,238 in May 2025. when compared to April 2025 (2,074) and 15% higher than the same month in the previous year (1,946 in May 2024). The insolvencies consisted of 354 compulsory liquidations,…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland increased by 13% in May 2025. The data showed that there were 133 company insolvencies registered, which is 13% higher than in May 2024. The business insolvencies were driven by an increase in compulsory liquidations. The business insolvencies comprised of 56…
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New data from Uswitch.com has found that the vast majority of SME owners (86%) believe that a subscription model can help improve cash flow management, offering a more predictable and manageable income stream. Nearly half of SME owners (46%) have already integrated subscriptions into their businesses. Whether they’re offering curated product boxes, regular services, or…
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Latest monthly statistics from the Insolvency Service show that in May 2025, business insolvencies increased while personal insolvencies declined in Northern Ireland. The data showed that there were 53 business insolvencies, which was 20% higher than in May 2024. The insolvencies were driven by an increase in compulsory liquidations. The insolvencies comprised of 33 compulsory…
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One in two (50%) consumers have reported a fraud attempt had been made against them in the last three months, with many even reporting to falling victim according to new research by TransUnion. The survey found that 14% of UK respondents reported they had lost money to fraud in the last year alone, through various…
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Consumer confidence has seen a slight increase, with GfK’s consumer confidence index rising by two points in June. The index remains in negative territory at minus 18, four points lower than last year. Confidence among UK consumers has improved but remains fragile in the face of expected petrol price rises amid escalating conflict in the Middle…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.25%. The Bank of England has held interest rates at 4.25%. The Monetary Policy Committee (MPC) voted 6:3 for the hold, with three members voting for a cut. Commenting on the latest decision, John Phillips, CEO of Just Mortgages and…
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