Tag: late payment
Small Business late payment rising due to cost of living increase
Nearly a quarter (24%) of small businesses and medium sized enterprises (SMEs) have seen a rise in the number of late payments. The late...
HMRC triples spend on debt collectors
In the last three years, pay to private debt collectors from the HMRC has risen by 500%, whereby signifying the HMRC are stepping up...
Half of Small Businesses trading in the red
According to the latest Small Business Insights published by Xero, half of the small businesses in the UK are currently trading in the red. The...
Why late payments are affecting SME’s
Every business whether it be large or small is effected by late payments and with many businesses being part of a supply chain and...
Calls For New Late Payment Legislation
A survey by the Institute of Directors (IoD) of SME’s across the UK revealed that of the 787 questioned, nearly half have suffered because...
Insolvency warning issued for UK’s Clothing retailers
Warnings have been issued within the UK's textile and clothing industry as it has been revealed that 9% of clothing retailers are facing financial...
Late payment is the silent assassin of UK Businesses
According to research from Bacs, more than 50,000 British small firms are closing every year, being owed £14.2bn in unpaid debt. Getting clients to pay...
HMRC seized assets from nearly 2,000 SME’s
More than 1,953 businesses had their assets seized from HMRC in 2016/17 demonstrating that the HMRC are using more aggressive methods to obtain unpaid...
UK Businesses Late Payment ‘Double Standards’
Studies have found that a number of businesses in the UK with regards to late payments are working under double standards. Companies who are insisting...
Late payment costing SMEs more than £2bn a year in the...
Small Businesses across the UK are feeling the pinch from late paying customers following the release of a report from Bacs.
The continuing practice of...
