Subcontractors demanding new Late Payment legislation
A Construction Industry organisation is demanding tough new measures to combat a new wave of late payment in their sector. The Specialist Engineering Contractors’ (SEC) Group represents the countries largest sector within the Construction...
Business owners left feeling suicidal due to late payment survey says
Business owners are being left feeling suicidal due to late payment it has been revealed. 9 out of 10 business owners across the UK's construction industry have suffered a variety of mental health issues...
Four Construction firms suspended from Prompt Payment Code
Four Large players within the UK's construction industry have been suspended from the Prompt Payment Code. Persistent late payments to sub contractors and suppliers and have lead to the suspension.
The Prompt Payment Code is...
Nearly half a million UK firms in Financial distress
The latest research from Begbies Traynor has shown that the number of UK Businesses in serious financial distress has increased by 40% in the past three years.489,000 Companies in the UK are flagged as...
Research shows Late Payment affects Freelancer & SME owners health
Startling New research has shown that over three quarters of Freelance Business owners have experienced mental health issues as a direct result of non payment in the last twelve months.The latest market research report...
78,000 Premises visited by Bailiffs due to Business Rate debt
Research by real estate adviser Altus Group revealed that, during the last financial year (2018/19), over 78,000 non-domestic properties from retailers to restaurants to pubs to factories were referred to Bailiffs to levy ‘distress’...
UK Companies still failing to chase Business Debts
The latest new research from Lloyds Bank Commercial Banking Division has shown that a roughly a third of UK businesses who experienced late payment over the past year did nothing about it.The fear of...
Debtor jailed for attack on Debt Collection Agents
A 25 year old man from Derby has been sent to prison for 10 months following a violent attack on two Bailiffs in Derbyshire.Sameer Shabir was one of a trio of men who physically...
Kent College applies for ‘education’ administration
A Kent based college is set to enter 'education administration' under the rarely used insolvency procedures created by the Technical and Further Education Act 2017.West Kent and Ashford College (WKAC) has filed for administration...
SME’s say late payment is on the increase
Small and Medium sized Businesses across the UK are advising that late payment has increased compared with a year ago.This is growing concern due to a new Business Confidence monitor report that has been...
