Experts expect wave of corporate insolvencies – business news 16 November 2020.

James Salmon, Operations Director.

Experts expect wave of corporate insolvencies, firms fight to survive amid the pandemic PM urged to adopt four-day working week, remote working, mortgages, personal insolvencies, debt crisis,  retailers, the wealth gap,  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.

Experts expect wave of corporate insolvencies

Experts have warned that the withdrawal of government support will deliver a wave of business closures. While official figures show that the number of corporate insolvencies fell to 856 in October, down from 925 in September and 1,485 in October 2019, analysts say the number would have been far higher but for Government support. Colin Haig, president of insolvency and restructuring trade body R3, said: “Gravity cannot be defied forever, and – with temporary measures stopping creditor enforcement actions against debtors due to expire at the end of the year – the first few months of 2021 could turn out to be difficult ones for large swathes of businesses which have built up arrears with landlords, suppliers, or the taxman.”

Firms fight to survive amid the pandemic

Russell Lynch in the Sunday Telegraph reflected on the challenges small traders are facing as they look to stay afloat during the coronavirus pandemic, noting analysis which suggests more than half a million firms are in severe financial distress and concern that 2021 could deliver a spike in insolvencies.

Begbies Traynor’s “red flag” alert system suggests 557,000 companies are in “significant” financial distress, with this based on outstanding county court judgments and financial metrics.

Chairman Ric Traynor, who says his company is speaking to around twice as many businesses as usual, believes that “somewhere between 21,000 and 22,000” firms will become insolvent. While the number of companies falling into insolvency fell 39% year-on-year in September thanks to bans on winding-up orders and evictions, Mr Traynor says: “There will be a catch-up, no doubt”.

PM urged to adopt four-day working week

The Prime Minister has been called to adopt a four-day working week, with politicians and trade unions among those signing a letter that suggests the move would help the post-pandemic recovery. The letter to the PM, which lists former shadow Chancellor John McDonnell and Unite general secretary Len McCluskey among signatories, says reducing working hours is essential for the “advancement of civilisation”. Commenting on the letter from the 4 Day Week UK Campaign, New Economic Foundation chief economist Alfie Stirling said: “Reducing working hours while also providing pay protection is a powerful tool for minimising economic damage during any recession, and is has been put to particularly good use during the pandemic.” He added that a shortened working week “provides a double boost” as it reduces redundancies by distributing hours and maintains pay packets and wider spending, “which in turn protec ts more jobs.”

More firms make remote shift permanent

The Observer reflects on the change in working life brought about by the coronavirus outbreak, saying most companies expect to offer more flexibility after the pandemic, while firms including PwC have said a shift to more remote working will be permanent


Despite the economic uncertainty, mortgages arrears have been kept low as 140,000 mortgage payment holidays remain in place as at the end of October and over 2.6 million mortgage payment deferrals have been approved over the pandemic.

Personal insolvencies rise  by 60%

Personal insolvencies rose by 60% to 11,939 in October 2020, compared to September’s figure of 7,458, according to the latest Insolvency Service data

The nation is “sleep-walking into a £10bn debt crisis”, charity warns

Household borrowing and arrears attributable to covid-19 have reached £10.3bn, up £4.3bn since May 2020, according to a new report from StepChange Debt Charity

Retailers hit as consumer confidence slides

Considering the climate for retailers, PwC analysis shows that consumer confidence has fallen to -10 amid England’s second national lockdown.  PwC expects confidence to climb again providing shops can reopen after December 2.

Incomes barely boosted by lockdown exit

A report from the Resolution Foundation think-tank shows that the end of Britain’s first coronavirus lockdown did little to boost the incomes of people hit financially by the restrictions, with the proportion of adults reporting a drop in incomes hitting 23% in Q3 compared to 27% in Q2. Those in the top 20% income band were more likely to have seen their finances improve than deteriorate from before the pandemic, with many managing to save more, while those on £13,000 a year were more than twice as likely to have seen their budgets deteriorate.

Pandemic widens wealth gap

Research from the Centre for Enterprise, Markets and Ethics (CEME) shows that the coronavirus crisis has widened the wealth gap between rich and poor people in the UK. The think-tank says that a third of people now have less than £1,500 in the bank, with many lower-paid employees’ finances taking a hit as they have been furloughed or made redundant. The CEME report says households have been able to save an average of 29.1% of their disposable income since March, while savings ratios in 2019 stood at around 5%. CEME has suggested an increase in tax relief on savings would encourage more investment by the less well-off, with the think-tank also calling for higher interest rates on savings.

Covid-19 general news

The UK reported 24,962 new cases yesterday.  Globally there were 443,028 new cases taking the total to over 54.4 million and deaths rose to 1,317,812.

Boris Johnson went into self-isolation after attending a meeting with an MP infected with covid-19.

Following on from the annoucemnt from Pfizer, Moderna said its Covid-19 vaccine was 94.5% effective in a preliminary analysis of a large late-stage clinical trial

AstraZeneca Plc and the University of Oxford are expected to report preliminary data from their advanced trials in the coming weeks.

Austria announced a strict lock-down.

America reported its 11 millionth case

Mexico passed 1m confirmed infections with almost 100,000 deaths.


With little progress being made, both sides are talking up the possibility of extended talks beyond the deadline at the end of this week. The Environment Secretary George Eustice said it may be possible to “squeeze out extra time” beyond this week. With state aid and fishing remaining key sticking points. The question is what effect on the talks Dominic Cummings departure will have.

Firms lack Brexit plans

A study from BDO shows that almost two in five medium-size businesses have no plan for Brexit or have delayed their preparations as a result of the coronavirus outbreak. More than a quarter of 500 business leaders surveyed said adapting their plans for Brexit is their most immediate concern. BDO managing partner Paul Eagland comments: “There are rough seas ahead for businesses. As we draw closer to exiting the EU, it is important that those in the sectors most impacted are offered support and information to help them navigate a myriad of complex challenges.”

Sunak to invite freeport bids

Chancellor Rishi Sunak will today detail plans for low-tax business hubs, inviting bids for at least seven “freeports” in England. Cities and towns with freeport status will benefit from tax breaks, simpler customs procedures and Government support to attract investment.


Markets were weaker on Friday following the cautious joint statement we covered on Friday from Central bankers, Jerome Powell, Fed chair, Christine Lagarde, ECB president and Andrew Bailey, Governor of the Bank of England all saying it is too early to assess the impact of the Pfizer vaccine, and warning against exuberance. It has been a week full of major news items so a breather was overdue. Oil prices fell as fears rose regarding the global economy and demand in light of rising infections and less optimism about the immediate effects of a vaccine. gold conversely rose. Sterling was also among the strongest currencies.


Asia Pacific nations including China, Japan, Australia, New Zealand and South Korea signed the world’s largest regional free-trade agreement, encompassing nearly a third of the global population and gross domestic product (GDP).  15 nations sealed the Regional Comprehensive Economic Partnership, or “RCEP,” after negotiating for a decade, eliminating tariffs on at least 92% on traded goods among member countries. Asian stocks soared on the news.

Google & the EU

Google chief executive Sundar Pichai has apologised to EU industry chief Thierry Breton after leaked documents revealed plans to attack the commissioner over new antitrust laws. In a video conference last night, Pichai insisted he had not seen or signed off on the document and apologised for the way it had come out.

Analysts: Toxic loans could hit eurozone economy

Analysts at UBS have warned that the eurozone economy risks being stifled by a surge in toxic loans, with corporate debt levels pointing to an increase in defaults next year. While stimulus measures from policymakers amid the coronavirus crisis have delayed possible bankruptcies, UBS analysts say defaults could almost quadruple in Italy, rise 180% in Spain and double in Germany and France.

Sports retailer merger ok’d

The competition watchdog’s decision to block a merger between JD Sports and Footasylum has been overturned following an appeal. The Competition Appeals Tribunal said that the Competition & Markets Authority had acted “irrationally” when it ruled in May that the tie-up would lead to a “substantially” lessening of competition nationally.

Office exodus puts valuers in the spotlight

Louisa Clarence-Smith in the Times looks at concerns over office valuations, noting that vacancies are rising and rents are falling while some of the UK’s biggest corporate office occupiers, including Deloitte, are looking to shift toward home-working following a change in working practices brought about by the COVID-19 pandemic. Ms Clarence-Smith notes that the ICAEW raised the alarm about the lack of evidence for objectivity of property valuations in accounts in September.

Investors call on European businesses to include climate change risks in accounts

Investors have urged large companies to include climate change risks in financial statements. A recent Financial Reporting Council review found that few listed companies’ statements made reference to the issue.

Firms hit by U-turn on job retention bonus

Businesses have warned that Chancellor Rishi Sunak’s decision to scrap a bonus scheme for firms that retain formerly furloughed workers has hit budgets, with the money having been factored into cashflow forecasts. Mr Sunak replaced the Job Retention Bonus – which pledged £1,000 for every worker kept on the payroll by the end of January – with an extension to the furlough scheme when England’s second national lockdown was announced. Craig Beaumont, external affairs chief at the Federation of Small Businesses, said: “Small businesses that have got lots of revenue issues were looking forward to a bit of guaranteed income in January.” He added: “That one little bit of light at the end of the tunnel has gone.”

Missing stamp duty holiday may save some buyers money

While a number of homebuyers are looking to push through purchases before the stamp duty holiday concludes at the end of March 2021, Melissa Lawford in the Telegraph says some are waiting to buy in the hope that the end of the tax break will see prices dip. She notes that the stamp duty holiday has helped drive a post-lockdown property surge but with values climbing, some buyers have found that what they gain from the tax holiday is outweighed by price inflation.

JD Sports could rescue Debenhams

JD Sports could step in to rescue Debenhams, with the retailer understood to be examining the department store chain’s finances ahead of a potential takeover. While momentum is reportedly with JD Sports as a buyer is sought, Sports Direct and House of Fraser owner Mike Ashley is said to remain close to the sale process, which is being managed by FRP Advisory and bankers at Lazard.

Charitable fund could help pay down deficit

A High Court judge has said a charitable fund set up by an anonymous donor in 1928 could be used to pay off some of the UK’s national debt. The National Fund was created with a gift of half a million pounds that was to be left until it had grown large enough to discharge the UK’s national debt. Mr Justice Zacaroli ruled that the fund, which is now worth £512.2m, is a valid charitable trust, meaning it can be used to help pay off the country’s national debt.

Rates holiday saves supermarkets £2bn

Analysis by real estate adviser Altus Group suggests supermarket chains are set to benefit from almost £2bn in business rate tax breaks, despite sales soaring during the coronavirus crisis. Chancellor Rishi Sunak earlier this year announced a business rates holiday for retail, leisure and hospitality firms until March 2021, with this designed to support firms facing a financial hit from the pandemic. The Altus Group report suggests that the UK’s four largest chains – Sainsbury’s, Tesco, Asda and Morrisons – as well as rivals Aldi and Lidl, will save around £1.87bn as a result of the rates holiday. This represents more than a sixth of the total £10.1bn written off business rates bills during the year.

Some critics have called on the supermarkets to hand back the money. Liberal Democrat leader Sir Ed Davey has questioned the boost for the chains, which comes despite them seeing sales rise amid the pandemic and lockdown, saying that the Government made a “huge mistake in the design of the business rates holiday”. Conservative MP Kevin Hollinrake comments: “It’s now clear that supermarkets didn’t need this concession on business rates, yet they haven’t paid it back”.

The fact that some of the chains have made dividend payments while accepting state support has also drawn criticism. Retail analyst Richard Hyman says “something doesn’t feel right or smell right” about the shareholder payouts, given the circumstances. Robert Hayton, head of property tax at Altus Group, said that with some parts of the retail sector thriving during the pandemic, “the rates holiday has been the icing on an already very sweet cake.” Shadow Business Minister Lucy Powell believes firms that received government subsidies but performed strongly should waive their entitlement to the rates holida y, urging them to “do the socially and morally responsible thing”. Conservative MP Esther McVey said supermarkets should hand back the money, suggesting it would be better directed toward owners of small companies that have not been eligible for emergency support.

OECD candidate optimistic over tech tax

Michal Kurtyka, a candidate to become secretary-general of the Organisation for Economic Co-operation and Development (OECD), says agreement over an international tax on large tech companies is possible if countries show “political will”. The OECD has been overhauling tax rules but a lack of agreement has prompted many countries, including the UK, to press ahead with their own measures for taxing tech giants. Commenting on the efforts, EY’s Chris Sanger said the OECD will look to convince states that there is “a workable solution that can be implemented and managed.”

MPs warn Chancellor over end to tax-free shopping

A group of Conservative MPs have written to Rishi Sunak, warning the Chancellor that axing duty-free shopping will make Britain less attractive to international visitors. The MPs told Mr Sunak that they believe the tax rethink will “set back the Government’s levelling-up agenda, and damage our ambitions for a global Britain.” Retail groups say tax-free shopping is worth £3.5bn a year and directly supports 70,000 jobs.

Superdry boss calls for VAT ‘goodwill gesture’

Julian Dunkerton, CEO of fashion retailer Superdry, has called on ministers to cut VAT and extend business rates relief to support stores hit by England’s national lockdown. He said a 5% reduction in VAT in December would be a “goodwill gesture” from the Treasury to the public and retailers. Mr Dunkerton also called for “targeted help” in regard to business rates, saying any extension of the holiday from the levy should not apply to supermarkets or food retailers as they have been able to remain open during lockdowns.

HMRC crackdown targets tax avoidance

Tax-related investigations and arrests have risen 40% on the back of a crackdown on offshore avoidance schemes. Figures show that HMRC’s Offshore Corporate and Wealthy unit carried out 70 arrests, dawn raids or interviews in the 12 months to the end of March, up from 50 in the previous year. Analysis by law firm Pinsent Masons shows these probes yielded £414m for the Treasury. Meanwhile, data show that whistleblowers who reported tax evasion were paid £473,000 in 2019/20 – a rise of 63% from a year before.

HMRC launches tax crackdown on businesses shifting profits overseas

HMRC is cracking down on profit diversion by multinationals, asking firms to review their transfer-pricing arrangements having found that large businesses with UK operations may owe an additional £34.8bn in tax for 2019/20.

FCA: Carillion and bosses misled investors

The Financial Conduct Authority (FCA) has found that Carillion and some of its top executives misled markets as the outsourcer’s finances deteriorated before it eventually collapsed into liquidation in 2018. The FCA found that a series of the construction firm’s announcements in 2016 and 2017 were misleading and did not accurately or fully reflect the firm’s financial performance. It has issued warning notices to the company and “certain previous executive directors” over breaches of financial rules. The Financial Reporting Council (FRC) delivered a report to auditor KPMG in September outlining possible breaches of professional standards in the firm’s work for Carillion between 2014 and 2017

Opinion: Tax rises not the best path to recovery

Daniel Hannan in the Sunday Telegraph says that as Britain looks at how best to foot its coronavirus crisis bill, a “dangerous consensus has formed” that suggests tax rises are the best option. He highlights that within the last week, the Office of Tax Simplification has proposed an increase in the rate of capital gains tax; Deutsche Bank has suggested a tax on people working from home; and the Resolution Foundation has called for an extra £40bn in tax rises, including a higher rate of corporation tax and a windfall levy on profitable firms. Mr Hannan points to a 2018 study from the European Central Bank which argues that spending cuts are a far better way to balance the books than tax rises. He argues: “Instead of weighing ourselves down with additional taxes, we should aim to shrug off some excess weight. Elsewhere, the Observer’s Business Leade r column calls for Chancellor Rishi Sunak to look “imaginatively” at ways to raise money through tax increases, arguing that while tax rises “should not be applied until a recovery is at full throttle, the thinking needs to begin.”

Think-tank warns Chancellor over CGT increase

The Centre for Policy Studies has urged the Treasury to ignore proposals that call for an increase in capital gains tax. The think-tank issued the warning to Chancellor Rishi Sunak after the Office for Tax Simplification suggested that doubling rates and reducing exemptions could raise around £14bn. Centre for Policy Studies tax expert Tom Clougherty has questioned the proposals, saying: “Fully aligning CGT with income tax would be a big mistake.” He added: “Doubling the tax paid on capital gains would deter investment, punish saving, and leave us with a very uncompetitive system internationally.” Mr Clougherty said minsters should look to simplify the tax system but added that the Government “needs to make sure it also supports entrepreneurs, savers, and economic growth.”

Don’t let Covid-19 bust your business!

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

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?

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 today.

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

Do you sell on credit?

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.

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.

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.

Keep up to date with the latest news by following us on social media:-

CPA on Linkedin

CPA on facebook

CPA on twitter

See all our latest news here!

Housekeeping: Opening a New Account

Late payments are never good for business. What can you do?

Get paid earlier by understanding why late payments happen.

Protecting Your Business isn’t Half As Painful As You Think

The Good, the Bad and the Ugly – recognising the types of payers you do business with!

See our blog on how to communicate with your debtor early and clearly to set the framework for prompt payments

Everything You Always Wanted To Know About Debt Recovery (But Were Afraid To Ask)

Understand the “why” behind late payments

Read our blog on what to do when not paid on time

10 Bad Habits Every Credit Controller Should Give Up

The Credit Controller’s Best Friend

Debt Recovery: It’s Easier Than You Think!

How Managing Your Cash Flow Can Make You (and Your Business) A Success

Avoid insolvency – Don’t let your money go up in smoke

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.

25 excuses for late payment and how to get around them.

Read our Cash Flow Advice

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog – How to select a debt collection agency

20 ways to avoid identity theft

see our blog – 15 steps to avoid invoice fraud

Overcoming 5 common reasons for disputed invoices

As insolvencies rise, could you spot these warning signs in your customers?

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