18 million forced into debt – business news 24 November 2020.

James Salmon, Operations Director.

18 million forced into debt , vaccines boost economic outlook,  PMIs down, covid loans, house building, self-employment, government borrowing, youth unemployment, retail, tax, covid-19, market and other business news.

Here are CPA we want to share the business news stories we have seen that we think will affect our members and readers. Many of us are busy fighting to protect our businesses and therefore might have missed some of the news that could impact small businesses, their owners and those that sell on credit.

18m people forced into debt since start of pandemic

Research by debt charity Turn2Us shows that 18m people in the UK have had to use credit cards, go into their overdraft or borrow from friends and family since the start of the pandemic. The findings also show that people on furlough were considerably more likely to be borrowing money, with half of those who have been furloughed since March falling into debt, compared to 23% of people who have seen no change to the employment. Thomas Lawson, chief executive at Turn2us, commented: “Even if a vaccine for COVID-19 became available tomorrow, the damage has been done to people’s finances. People have spent their savings and used up their rainy day funds, there is nothing left.”

Haldane: Vaccine success boosts UK economic outlook

In evidence to the House of Commons Treasury select committee on Monday, the Bank of England’s chief economist Andy Haldane said news of three successful coronavirus vaccine trials meant the UK’s economic outlook was brighter than the Bank’s forecast earlier this month. However, he warned against the public dropping its guard triggering a third wave of COVID-19. Also speaking with MPs on the Committee, the Bank’s governor Andrew Bailey said the economic cost of a no-deal Brexit would have a greater long-term impact than the damage caused by the pandemic. Models suggested the longer-term consequences were due to the time required to adjust to a new trading relationship, he added.

IHS Markit PMI shows November slowdown

IHS Markit’s purchasing managers’ index fell to 45.8 in November from 51.4 the previous month, the lowest level since May. Chris Williamson, IHS Markit’s chief business economist, commented: “A double dip is indicated by the November survey data, with lockdown measures once again causing business activity to collapse across large swathes of the economy.”

Covid crisis threatens UK boom in self-employed work

The FT considers how self-employed workers have been hit hardest the pandemic and without support the upward trend in this model of working may be severely curtailed.

Treasury: Banks best placed to chase coronavirus loans

The Treasury insists banks should be responsible for chasing up and restructuring loans made to struggling businesses during the coronavirus crisis, despite City lenders calling for government help in dealing with the issue. With analysis suggesting that around £35bn of lending could become unsustainable, lobby group TheCityUK and EY had called on ministers to offer support, saying a ‘UK Recovery Corporation’ could turn risky debts into more manageable forms like tax liabilities. Responding to a Treasury Committee report highlighting the issue, the Treasury said: “We remain of the view that accredited lenders, not the government, are best placed to support borrowers [to] repay government-guaranteed loans.”

House building falls by a third

Housebuilders are set to deliver a third fewer new homes this year, with some of the decline attributed to the impact of the coronavirus crisis. Britain’s seven largest house builders – who account for 43% of the country’s new housing supply – have reported property completion figures that are down by 35% on average from a year ago. A survey from the Home Builders Federation and development finance provider Close Brothers Property Finance saw 44% of developers identify the pandemic as a barrier to new completions, while 83% cited delays in securing planning permission or discharging conditions as a factor.

Youth unemployment at four year high

One in twenty young people are currently unemployed, according to the Office for National Statistics, with this the highest level in four years. The analysis shows that 350,000 people aged 16-24 were classified as unemployed between July and September. The report says 7% of young men are unemployed, with the rate at 3% among young women.

Government borrowing set to hit £400bn

The cost of the coronavirus pandemic has seen the national debt climb to its highest level in 60 years. Government borrowing totalled £214.9bn in the first seven months of the financial year, putting it on track to reach almost £400bn over the full year. This would be a record and more than double that seen following the global financial crisis a decade ago. The UK’s national debt has risen to £2.08trn and has exceeded the size of the economy since May. It is now worth 100.8% of national income, a level not seen since the start of the 1960s. Howard Archer, chief economic adviser to the EY Item Club, said it was difficult to estimate the annual deficit amid uncertainty over coronavirus restrictions, but said he expected it to hit £400bn. He added: “The likely renewed economic contraction in the fourth quarter, caused by lockdown in England, will reduce receipts and further pu t up the deficit”. Dr Jonathan Gillham, chief economist at PwC, said people should not be “overly concerned” by the debt levels, with the Bank of England having committed to buy another £150bn of public debt, while the UK’s credit rating is relatively stable and borrowing remains cheap.

However some predict the borrowing could hit £500 billion. The Office for Budget Responsibility is expected to confirm this week that the Treasury will borrow almost £500bn this year, more than double the £227bn gilt sales in the year after the financial crisis. The Treasury’s Debt Management Office committed to at least £385bn in gilt sales by the end of November, already more than double its original March pre-Covid £156.1bn estimate for the entire financial year. Antoine Bouvet, senior rates strategist at ING, said: “The total figure could well rise above the £500bn market depending on the length and take-up of the furlough scheme, among other factors.” Meanwhile, Paul Johnson, the director of the Institute for Fiscal Studies, said he did not see “any possibility of the books being balanced this decade, if not for longer”.

Landlords approve Clarks’ rent plan

Shoe business Clarks has seen landlords back its rescue plan, with 90% of its creditors voting in support of a CVA that will see the firm pay no rent on a number of stores. The retailer, which was rescued in a £100m investment by private equity firm LionRock Capital earlier this month, says that all 320 stores will remain open, with rent cut to zero at 60 while the rest will see rent calculated on the store’s earnings. Deloitte’s Gavin Maher said the CVA and proposed investment from LionRock “will provide a stable platform upon which the management’s transformation strategy can be delivered.”

Retail sales rise by 1.2% in October

Figures from the Office for National Statistics show that retail sales rose in October, with sales volumes climbing 1.2% compared to September to deliver the sixth consecutive monthly increase. Year-on-year, October’s sales were up 5.8% on October 2019. While instore sales fell 3.3% year-on-year as some regions were placed under tougher restrictions due to coronavirus case numbers, online sales were up 52.8% on last October. Some of the increase recorded last month has been attributed to people bringing forward Christmas shopping in anticipation of further restrictions being rolled out. Ian Geddes, head of retail at Deloitte, said 2020 has seen “significant behavioural change” among consumers, adding that some lockdown habits look set to stay, with the shift to online shopping the most notable. Lisa Hooker, consumer markets leader at PwC, comments: “Looking ahead to December, with online delivery capacity already stretched to its limits, retailers will be hoping for a swift lifting of lockdown restrictions and that consumers continue to show they can bounce back into spending mode. ”

City should have been championed in Brexit talks

The Lord Mayor of London, William Russell, has accused the Government of “missing the point” of the City as a key national asset after failing to champion financial services in Brexit talks. Russell said the Government’s approach to financial services in the talks was “disappointing” as the Square Mile faces up to the loss of passporting rights and regulatory equivalence from January. He said the City “would have loved to have had more representation”, claiming that the UK’s financial sector has been a victim of its own success. A Treasury spokesman said the Government planned to “renew the UK’s position as the world’s pre-eminent financial centre”. The spokesman added: “By bolstering the dynamism, openness and competitiveness of the sector, we will ensure the UK moves forward as an attractive and well-regulated market, leading the world in pioneering new technologies and shifting finance towards a net-zero future.”

Covid-19 general news

New cases in the UK continued to fall yesterday with 15,450 new cases reported.

Globally 519,437 cases were added as deaths rose to a total of 1,397,176.

Prime Minister Boris Johnson has announced the introduction of a “tougher” three-tier system when England leaves its national lock-down next Wednesday. In a virtual address to the Commons, Johnson said the second national lock-down will be lifted on 2 December in place of a revised system of restrictions that will allow shops, gyms and hairdressers to reopen across the country

Ministers are drawing up plans to allow rules to be relaxed across the U.K. in time for Christmas, and Johnson said if all goes well with the rollout of vaccines, “the vast majority” of people who need a shot will get one by April.

The World Health Organization will carefully analyze AstraZeneca Plc’s data but welcomes the results so far, according to Mariangela Simao, assistant director-general for drug access, vaccines and pharmaceuticals. The WHO will receive more data, including clinical data, in the next week and expects to have finalized assessments in the beginning of 2021, she said.

WHO Chief Scientist Soumya Swaminathan said AstraZeneca’s shot’s advantage is that it can be stored at normal refrigerated temperatures, making it easier to deliver the vaccine around the world.

Italy became the second European nation after the U.K. to reach 50,000 deaths from the coronavirus pandemic

City group seeks to loosen public school grip on top jobs

A new task force created to increase diversity in the Square Mile will be backed by PwC and Deloitte, among others, and chaired by Catherine McGuinness, policy chair at the City of London Corporation.


The FTSE 100 fell 0.3% yesterday as sterling strength hit the index that is focused on oversears earnings. The more domestic facing 250 rose 0.4%. European markets were modestly up as well with Germany and France both climbing a quarter of a percent. Overnight the DOW rose 1.12%, the  S&P 500 rose 0.56% and the  NASDASQ rose 0.22%.

US November Manufacturing PMI (purchasing managers index) was encouraging at 56.7 (up from 53.4 in October) a 74 month high- this is the first data since the 3rd November 2020 presidential election.

Crude oil extended recent gains on Covid-19 vaccine optimism and the prospect of a cold winter. Brent crude rose 82 cents to $45.84 / barrel lifting BP by 9p to 253.5p and Royal Dutch Shell by 56p to 1252p. Gold prices eased.

Banks were higher on the view that corporate insolvencies might have turned the corner. Barclays jumped 2.4p to 139p, Lloyds rose 1.3p to 37.2p.

Markets responded positively to the news that Trump has given permission for his his team to cooperate with the transition and the GSA would work with Biden, freeing up funding and communication lines. Trump however has not conceded and continues his failing attempt to overturn the election result. Also the appointments of Janet Yellen to the treasury and John Kelly to the Environment have pointed at a moderate, skilled  and well respected cabinet.

AstraZeneca & pharma shares

AstraZeneca shares fell sharply, down 317p, as US investors took a relatively dim view of the performance of AZD1222 as a C-19 vaccine in competition with US peers. Some commentators noted that AstraZeneca had not provided the reasons as to why the different dosage results differed so significantly. Furthermore the results were preliminary, in that a further 20,000 people are still being tested so the data result is likely to change.

Oxford Biomedica notes the development and will receive £15m upfront and £35m over 2021 for large scale manufacture of AZD1222. Oxford Bio shares fell 17.5p in response. The world’s largest vaccine maker, GSK fell 27p to 1370p on concern that its GSK/ Sanofi C-19 vaccine is someway behind in terms of the peer group.

Inflation shake-up would hit incomes for 10m private pensions

Industry experts have warned that more than 10m pension incomes linked to the retail prices index (RPI) will lose out if the chancellor announces a move to a lower inflation measure in Wednesday’s spending review. Rishi Sunak is expected to announce that RPI will be replaced by the consumer prices index including housing costs (CPIH) – a measure of inflation that is typically far lower. The reform will save the taxpayer money, benefit commuters and help students but also reduce annual increases in incomes from defined benefit pension schemes linked to RPI. LCP partner Sir Steve Webb commented: “This is potentially a real loss for millions of present and future company pensioners, there is no getting away from that.”

Brexiteer lobby group calls for end to corporation tax

The Brexit-backing Independent Business Network is urging the Chancellor to scrap corporation tax and reform foreign takeover rules as part of efforts to boost British industry through Brexit and the pandemic. The lobby group called corporation tax a “disproportionate administrative burden” for companies, and added: “Without corporation tax, businesses will have more cash on their balance sheets, which can be deployed more effectively through greater investment in improving productivity, higher wages, lower consumer prices and higher dividends. Elsewhere, the Telegraph’s Matthew Lynn suggests Rishi Sunak’s Spending Review seem pointless without a review of tax – ruling out short-term rises and moving towards a simpler system. Finally, Paul Johnson, the director of the Institute of Fiscal Studies, outlines some of Mr Sunak’s options in a piece for the Mail, along with other experts including Andrew Sentance an d EY’s Chris Sanger, who calls for a “clear strategic path, shared with the public”.

UK facilitates a third of tax dodging

Analysis by the Tax Justice Network suggests that the UK and its overseas territories are responsible for more than a third of global tax avoidance each year. The report says abuse of tax systems by multinational firms and wealthy individuals deprived countries of $427bn, with more than $160bn facilitated by the UK and its territories and dependencies – with the UK itself responsible for $42bn of tax losses. The study says Europe lost the equivalent of one-eighth of its health budget to tax dodging last year. It also highlights that wealthy countries are responsible for 98% of tax avoidance. The Tax Justice Network is calling on governments to introduce an excess profits tax to recoup money from multinationals that have “short-changed” nations, with CEO Alex Cobham adding that a wealth tax alongside this “would ensure that those with the broadest shoulders contribute as they should

HMRC has little chance of recovering stolen furlough cash

HMRC would need to double its work force in order to pursue fraudsters who stole billions in furlough and bounce back loan cash, according to analysis carried out by the legal services firm, Integrated Dispute Resolution. Kevin Humphreys, tax expert at IDR, said: “HMRC would need 54,500 staff to claw the coronavirus losses back, broadly speaking, its entire UK workforce.” He said one solution might be for the Government to work with private firms to target fraudsters and tax dodgers. Separately, Blick Rothenberg has warned small businesses that have claimed under the furlough scheme that they could face extra tax scrutiny. It warns clients to be prepared for “random or selective” investigations.

Taxing our way out of crisis will backfire, Sunak told

The Chancellor has been warned that using tax rises to extricate the UK from its financial woes “would massively backfire” on the Government and risks permanent economic stagnation. David B Smith, a former City economist, argued in a Politeia paper that Britain’s tax burden already appeared close to the upper limit of “historic sustainability” before the pandemic, with public spending at the “high end of danger zone”. He adds: “The concern now is that the recent UK growth trend of around 1.5% each year will collapse to zero, or remain negative, even after the COVID-19 crisis has burned itself out.”

Stamp duty receipts rise 27%

HMRC figures show that stamp duty receipts for Q3 were 27% higher than in Q2. Overall transactions were up 68%, with the easing of the coronavirus lockdown measures and the introduction of the stamp duty holiday driving activity in the property market. The number of residential transactions were up by 72%, with non-residential deals up 38%. However, year-on-year comparisons show transactions in Q3 were down 18% on the third quarter of 2019 to 228,900, while receipts dropped by 43% from £2.4bn to £1.35bn. Meanwhile, ministers have been warned that the housing market could go into sharp reverse next year if the stamp duty holiday is not extended beyond the current cut off at the end of March 2021. Andrew Wishart, a property economist at the consultancy Capital Economics, believes that policymakers should extend the holiday “to avoid a damaging downturn”.

Majority of over-55s unaware of triggering Covid tax trap that cuts pension limit by 90%

Hundreds of thousands of savers have dipped into the pension during the coronavirus pandemic. However, NFU Mutual notes that 80% of those aged between 55 and 64 are unaware their future pension contributions will be capped after making a withdrawal. Withdrawing income from some types of pension triggers the money purchase annual allowance (MPAA), which reduces the amount a saver can pay in with tax relief by 90%, from £40,000 to just £4,000. More than 347,000 people made a withdrawal from their nest egg between June and September, an increase of 20,000 compared with 2019, according to data from HMRC. Ian Browne from Quilter called on the Chancellor to relax the MPAA triggers for at least the current tax year so people were able to recover the funding gap when their finances were in better shape. However, Aviva’s Alistair McQueen said the Treasury was unlikely to listen to these calls as the Government deficit was approaching £ 400bn. Mr McQueen advised savers against relying on Mr Sunak to relax the purse strings further while the ­pandemic was still ongoing.

Scrapping duty-free shopping could cost 40,000 jobs

The Association of International Retail (AIR) has warned Rishi Sunak that 25,000 retail staff and 15,000 factory workers who make luxury goods for top British brands face redundancy after the decision to axe the tax-free perk at the end of the year.

IDS: Spend and borrow binge would deliver a tax hit

Former Conservative leader Sir Iain Duncan Smith has warned that a “spending and borrowing binge” to help the country foot the coronavirus bill would only serve to “cripple the business sector with higher taxes”. His warning came in a report by the Centre for Social Justice think-tank which says the path to saving the economy post-pandemic is not “an ever-increasing rollercoaster of tax and spend”.

Wealth tax risks worsening the CGT regime

Edward Troup, a former first permanent secretary at HMRC, has told the Treasury Select Committee that “defects” in the existing tax system need to be fixed before a wealth tax is considered.

Sage to invest in expansion

Accountancy software group Sage has revealed an intention to expand its cloud-based business. CEO Steve Hare said it plans to invest an extra £50m to £60m in research, development, sales and marketing to grow the business and improve its offering across accounting, payroll and human resources. Sage said that its investments would squeeze profit margins next year but “drive recurring revenue growth and new customer acquisition, generate efficiencies and, over time, lead to significant value-creation through sustainable profit and cash generation”. Sage reported a 3.7% decline in underlying operating profit to £391m for the year to September

FRC calls for end to easing of pre-emption rules

The Financial Reporting Council (FRC) says listed companies will have to resume first-refusal rights for existing shareholders when they raise capital, bringing an end to a relaxation of pre-emption rights rolled out in March. The FRC-based Pre-Emption Group has said the relaxation in pre-emption rights, which was designed to speed up capital-raising for companies hit by the pandemic, will not be extended beyond the November 30 deadline. This means that as of December, firms will have to resume giving existing shareholders first refusal on new share issues.

Four million illicit cigarettes uncovered in Glasgow warehouse

Three men have been charged and 4.2m suspected illicit cigarettes seized by HMRC. Officers made the discovery when they attended a Glasgow warehouse. The goods found are believed to be worth an estimated £1.6m in lost duty and taxes.

Don’t let Covid-19 bust your business!

It will if your cash flow dries up, either sooner or later.

18 million have been forced into debt – could you be next?

The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid since 1914. We have seen many financial crises, this one will be particularly deadly for suppliers for sometime to come.

CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. Above all tactfully, because maintenance of goodwill is paramount.

To meet the needs of creditors in the current crisis, we have designed a “critical care” package especially tailored for the situation.

  • The annual package costs start at very low rates
  • A minimum performance warranty is provided
  • Several complimentary services included

Clients instruct CPA on-line via their PC or phone, completely user-friendly. Your late paying customers are told to pay you direct (not to us).

A very recent report shows a 23% increase in the number of unpaid invoices since March 11th THIS YEAR – are you getting a build-up of late payers?

with 18 million  forced into debt. it will only get worse.

Right now, overdue accounts must be a concern and CPA has a great track record of encouraging slow-payers to pay their suppliers quickly.

It takes less than 17 minutes to see how you would benefit, do you have the time now?

No face-to-face meeting required – just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.

When you see your money come in, you will be so glad you used CPA.

Do you sell on credit?

18 million have been forced into debt.

With pressures on the cash flow it is essential that you stay on top of the credit limits you grant customers and watch carefully for any late payments.

Those customers will look for the easiest option to boost their cash-flow. Don’t let it be you.

You can’t just assume your customers can and will pay you eventually, no matter how big their name is.

It is essential to have credit management systems in place to monitor and check your customers credit worthiness.

It is also best practice to use a trusted third party like CPA to make sure you are paid on time by customers, no matter how good a name they have.

About CPA

The Credit Protection Association can help!

Formed in 1914, CPA has been providing credit management services to SMEs for over 100 years.

At the Credit Protection Association, we provide first class credit information that can help you avoid being over extended to customers who are at risk. Our monitoring service can flag up warning signs long before the end, giving you the chance to adjust and reduce your exposure. We provide recommended credit limits and credit scores on a traffic light system and can help you set appropriate credit policies for your customers.

We regularly publish lists of the latest insolvencies but by then it is too late. Our credit reports however predict approximately 96% of company insolvencies long before they arrive.

Companies in trouble usually have very bad cash flow and they try to deal with it by delaying payment to their suppliers, increasing your exposure to them.

If you supply on credit, help us help you identify the risks.

Why use a third party collector?

As a third party collector, we can also get your payments prioritised over those who are not as hot on collections. When your customer receives a letter from the Credit Protection Association regarding their outstanding account, they are going to want to get that resolved as a priority. Our overdue account recovery service can get your unpaid invoices to the top of their “to do” list and get your invoice paid.

Over the years we have collected billions in overdue invoices for our customers.

18 million have been forced into debt – don’t let the debts owed to you be added to the pile of the unpaid.

Our debt recovery and credit management services give our members the financial freedom needed to grow and prosper, while our new Late Payment Compensation department could unlock hidden potential and offer the compensation needed to springboard your business to success.

You might be hesitant about contacting a debt collection agency. What are they going to be like?

Can they help your particular type of business?

There is no need for concern. CPA are courteous, helpful and very probably have had direct experience of working with your type of business.

Debt collection agencies are not all alike.

Success lies in both recovering money and keeping customers happy. The Credit Protection Association was founded in 1914 and has helped tens of thousands of UK businesses to collect outstanding payments and reduce the risk of incurring bad debt. We believe that creditors deserve to be paid for the work or goods they have supplied but we fully understand the need to maintain
the best possible relationship with customers!

At The Credit Protection Association, we provide solutions, advice and back-up in all areas relating to the supply of services or goods on account. Client-members receive everything they need from a single source to reduce debtor days and write-offs.

The Credit Protection Association has helped has assisted tens of thousands of UK businesses with their credit control requirements, since the First World War.

We are polite, firm and efficient when it comes to recovering outstanding debt.

“We have used CPA for a number of years now. The website is easy to navigate around with lots of helpful reports. The staff are always at hand and very friendly. CPA has helped us reduce our debt over the years and keep track of potential issues with our customers.”
~ CPA client in Buckinghamshire

“The service from CPA has proved to be everything that you said it would be. We have already seen a huge benefit. We have had a number of overdue accounts paid promptly and directly to us. It is also a huge weight off our mind to know that once we have passed an overdue payment over to you, you take care of everything whilst keeping us informed.
~ Credit Controller client in Warrington

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections


Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

CPA is passionate about late payment

The Credit Protection Association has been protecting smaller firms against poor payment practices for over 100 years.

We are extremely passionate about breaking the late payment culture that holds back the UK economy and threatens many SMEs, with cash flow difficulties being the single biggest killer of Britain’s small businesses.

If you were regularly paid late we can help. Those former customers used you to boost their own cashflow, regularly paying you late.

As a result you had extra costs, you had the distraction of having to chase payment, you had opportunity costs because your capital was tied up in their late invoices.

Under little used legislation, you are entitled to compensation for those late payments.

You put up with the PAIN – now claim the GAIN!

Now you can boost your own cash-flow.

CPA can help unearth the those hidden treasures.

We have the technology to reveal the compensation you are due and we have the extensive experience and expertise to then turn those claims into cash.

Did you know that your business is entitled to a minimum of £40 for every commercial invoice paid late to you over the past 6 years?

How many of your invoices are paid late each month – 20, 50, 100 or more?

At £40 per invoice that’s claim of £57,600, £144,000, £288,000 plus interest. The more invoices the bigger the claim! 

At £100 per invoice it’s £144,000, £360,000, £720,000 plus interest.

Discover NOW the potential value of late payment compensation hidden in your sales ledger!

For over 20 years, CPA has calculated and recovered Late Payment Compensation on behalf of Clients!  

Yes, CPA can help you boost your business cash-flow.

Don’t let your bankers control you, contact CPA today.

Discover NOW the potential value of late payment compensation hidden in your sales ledger!

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.

Read our blog here on how to crack down on the late payment culture.

Read our blog here on how to give late payers the slap they need.

The “Why” of the late payment culture.

New PM should walk the walk and back small firms over late payments

Paying late is “crack cocaine” to big business.

Late payment culture risks “spiraling out of control”

visit our late payment compensation page

See our full blog and FAQ on late payment compensation

Do you realise you could be sitting on a fortune?

Late payments often result in a cash flow crunch and leave SMEs in need of a cash injection.

If you sold B2B on credit then there may be a hidden source of capital you can call on.

If you fancy an extra bit of extra cash in your business, rather than jumping through hoops with your bank, you could look to uncover the resources from an unexpected source within your own business.

Are you among the 18 million have been forced into debt? If so we can help you find that cash from former business customers who owe you compensation.

Not many are aware but there could be a hidden fortune within your business, sitting there, just waiting to be uncovered and released.

We can help you uncover the pile of gold, you didn’t even know you were sitting on.

If you trade with other businesses and were often paid late then you could be entitled to significant compensation.

Under little known and under-utilised legislation your business could be due huge amounts in compensation that you didn’t even know about.

Let’s be clear – this is not a way to weaken any customer relationships you value. It is one that identifies who’s been paying late and then recover the potentially significant sums in compensation using Late Payment Legislation from businesses where the relationship has already ended.

You can pick and choose who you want us to follow up – but once we’ve agreed which companies you’d like to pursue compensation from it’s a fast process and there’s no financial outlay to you whatsoever. My team at CPA put its expertise to work to recover the compensation due and fight late payment culture.

That compensation could provide the cash boost your business needed.

But don’t delay, that compensation evaporates if not claimed within six years of the late payment.

How can CPA help?

CPA has developed a unique technology to dig into your accounting records and discover the cash injection you are due by means of compensation. The software does all the hard work. Our software interacts over the cloud with over 300 different software packages, working directly with your accounts package, just so long as it’s stored on a computer.

We recognise that most companies do not have the resources to spend time on the identification and calculation of Late Payment Compensation. Our service can produce an Analyses within just a few days with (usually) less than 30 mins of co-operation from our clients. We work directly with over 300 accounting packages but can also work with bespoke accounts packages. Indeed, speed is essential as the oldest invoices may fall foul of the 6-year time limit.

Once the Sales Ledger Analyses is made available to clients, all that is required is that management decide which commercially sensitive ex-customers to remove from the list and return it to us.

CPA then uses its years of collection experience to explain and recover the Late Payment Compensation Claims. Clients do not handle any part of the recovery process as our team will take all communications from the companies against who the claims has been made. Often, it’s simply a case of explaining the legislation, sometimes we have to go all the way and enforce the legislation through the courts.

The result is that we are realising clients’ claims worth tens and sometimes hundreds of thousands of pounds which, of course, is pure net profit. You may also be among the recipients of “hundreds of thousands of pounds” should you elect to take advantage of our services.

We do the work, you receive the cash.

If you have supplied goods and services to businesses on credit and were regularly paid late then you could be due significant sums in late payment compensation.

We are talking to companies and unearthing claims in the hundreds of thousands from former business customers who paid them late. Large business customers who abused their power to inflict unfair and sometimes illegal payment practices.

We are helping business owners who are looking to boost the returns from their business before they retire. We are helping businesses who have lost major clients after years of loyal service to get properly compensated for systematic late payment. We are helping companies that were looking to close down, who looked insolvent and finding that cash injection they need to avoid insolvency.

Those former clients who regularly paid you late can finally be made to pay.

Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.

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The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.