Profits increase at Indesser

Integrated Debt Services (IDS) trading as Indesser, a company created to help the government chase unpaid fines, loans and council tax has announced a 132% increase in profits last year.

Indesser whose parent company is the credit information firm Equifax, saw its pre-tax profits rise to £18.1 million in 2022, an increase on 2021’s figure of £7.8 millions. Revenues also nearly doubled to £60 million.

The Covid 19 pandemic had caused Indesser to pause some of its operations but there was an “acceleration of activity” in 2022.

Indesser was created in 2014, the idea of the Conservative and Liberal Democrat coalition government. Its first six customers were HMRC, the Department for Work and Pensions, the Home Office, the Student Loans Company, the Legal Aid Agency and the Driver and Vehicle Licensing Agency (DLVA).

The company acts as a middleman between the government and debt collection agencies.