CVA’s drop 47% after HMRC changes Debt Collection rules
The latest Data analysed by Mazars shows the number of struggling businesses applying for Company Voluntary Arrangements (CVAs) has fallen by 47%. It is suggested that this large drop is due to a change...
Madame Tussauds owners served with winding up petition
The owner of Madame Tussauds and London Dungeons has been slapped with a winding up petition by Experian.Merlin Entertainments, which owns theme parks such as Alton Towers and Legoland as well as some of...
Late payment warning issued by Small Business Commissioner
In a recent podcast, The Small Business Commissioner, Liz Barclay, issued a warning that without confidence in cash flow, the UK’s small and micro businesses would be restricted from investing in new jobs, equipment and...
37% increase of Businesses in critical distress
The number of businesses in critical distress has increased by 37% in the past year. This is according to financial data from insolvency specialists Begbies Traynor.The latest Begbies Traynor Red Flag Alert report has...
Private Bailiff tenant evictions up by 39%
Tenant evictions by bailiffs in the private rental sector (PRS) have increased by 39% say latest government figures released.The figures show that 3,405 households in the private rental sector were evicted by bailiffs in...
Businesses must act to collect unpaid invoices as UK recession looms
Businesses are being urged to take action to collect unpaid invoices as a new UK recession in on the horizon. The latest setback fro the UK economy has been touted as the "final straw"...
Survey shows 1 in 2 Small Businesses struggling with late payments
The latest survey and research undertaken the the Federation of Small Businesses shows late payment is worse than ever. A survey of 1,300 Small Businesses and sole traders showed that half of SME's are...
Ambulance trust writes off £339k after Debt Recovery failure
An Ambulance trust has had to write of £339k after they were deemed unrecoverable. In a meeting of the West Midlands Ambulance trust board (WMAS), members agreed to write off a whopping £339,000 owed...
Uk’s top 10 worst Business late payers named and shamed
New IPSE research finds that late payments have worsened despite recent government reforms, alluding that not enough is being done to crack down on companies that do not pay freelancers on time.Now more than...
New powers used by Insolvency service to ban covid-loan abusers
The UK's Insolvency Service has utilised its new powers for the first time against directors that dissolve businesses to avoid the payment of its debts. The move is seen as the Insolvency Service ramping...
