The balance between health, wealth, and happiness is often delicate for business owners. One significant factor that can disrupt this equilibrium is the issue of late payments. When clients delay or default on payments, it's not just business growth at stake; your...
Dealing with late payments is a critical challenge, especially for smaller businesses. Not only do late payments present ethical and moral issues, but they also significantly impact cash flow and, in severe cases, can jeopardise a company's survival. It's crucial for...
The High Court has decided that Administrators can be prosecuted personally for failing to notify the Insolvency Service about collective redundancies. Following the recent decision in the High Court in R (on the application of Palmer) v Northern Derbyshire...
Thousands more people who are struggling in problem debt will be able to apply for their payments to be written off after an extension on current rules came into force at the end of June 2021. Debt Relief Orders (DROs) can now be used if you owe a maximum of £30,000...
Let me you ask you a simple question. At what time do you throw in the towel at the end of the working day? When do you think enough is enough and head for home? Flexi working has encouraged employers and employees to open the mind and think differently about their...
It has been confirmed that from 1 December 2020 the UK tax authority, HMRC will move back up the creditor rankings in English insolvency proceedings in respect of certain taxes. It means they will rank ahead of floating charge holders and unsecured creditors in...
If you are thinking of trading internationally, it is worth remembering you face the same problems with debtors that you do on home turf; with the added headache of defining whose laws govern the agreement. Before you enter into any contracts overseas you must...
I am often asked by prospective customers and new contacts how do I know that I am using a legitimate firm and that firm will act in our best interest when recovering our debts? I always maintain that as a starting point you need to understand the values of the firm...
With the increased use of debit cards and chip and pin technology, the humble cheque is being accepted by fewer and fewer retail outlets as a means of payment. It remains, however, a popular method of payment for business. Cheques are written orders from account...
With the forthcoming suspected interest rate rise, 40% of SME’s admit to having no financial buffer despite having outgoings of over £4k per month. SME loan approvals have falled from 58% to 43% in the past year. Where SME’s do have something in reserve, the most...
