Insolvencies increase – business news 18 January 2021.

James Salmon, Operations Director.

Insolvencies increase, GDP fell, a call for common sense on rates, business interruption insurance ruling, the self employed, tax, house prices, covid-19, market and lots more 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.

Insolvencies increase

The number of company insolvencies increased in England and Wales to 1,228 in December, data from the Insolvency Service reveals.

This is up by 9.2% on December 2019 and marks the first increase since February, with Government support rolled out amid the coronavirus crisis helping prevent a number of company failures – with temporary restrictions on winding-up petitions also playing a part.

Colin Haig, president of insolvency and restructuring trade body R3, said: “These figures show that the economic impact of the pandemic may now finally be pushing increasing numbers of struggling businesses and individuals over the line into formal insolvency”.

The Insolvency Service said: “It is too soon to tell whether this represents an emerging trend.” Elsewhere, company insolvencies in Scotland fell by 36%, while Northern Ireland recorded a 79% decline.

Personal insolvencies increased also by 38% increase in England and Wales over the last three months compared to the same quarter in 2019.

GDP falls 2.6% in November

Data from the Office for National Statistics (ONS) shows GDP fell by 2.6% month-on-month in November, with the decline pushing the economy toward a double-dip recession. GDP fell to 8.5% below its pre-pandemic level in November, with the slide driven by the second national coronavirus lockdown in England. Analysis shows that GDP dipped 3% in the first three months of 2020 before registering a record 19% fall in Q2 – a period that saw the UK in its first nationwide coronavirus lockdown.

While Q3 saw a record jump of 16% as growth returned, analysts expect Q4 to see another dip. With tough new restrictions currently in place, Q1 2021 is forecast to show a decline, meaning two consecutive quarters of falling GDP and a second recession.

Chancellor Rishi Sunak said the ONS figures highlight the scale of the challenge being faced, saying: “It’s clear things will get harder before they get better”.

James Smith, research director of the Resolution Foundation, says that while the economic story “is of only the second-ever double-dip recession on record, the story of the year will be a vaccine-driven bounceback in economic activity”.

Suren Thiru, head of economics at the British Chambers of Commerce, believes a “clear and comprehensive plan is urgently needed to support the economy throughout this year.”

Bank chair: Britain’s recovery may exceed expectations

William Vereker, chairman the UK arm of Spanish banking group Santander, believes the UK’s economic recovery this year could be stronger than most experts predict, saying: “I can see sterling strengthening and the economy growing faster than forecast”.

Mr Vereker feels the Brexit deal and the coronavirus vaccination programme could deliver a “big uptick” in consumer spending and business investment. He said that despite there being “so many negative predictions … there is another possibility – things might be okay.”

Mr Vereker said he can see a “quick bounce-back”, with “significant” pent-up consumer demand and savings set to flow into the economy later this year. He added that the Brexit deal is “going to remove a big element of uncertainty” and encourage business investment, while “on a relative basis, the UK looks good in terms of the opportunity to invest, employ and develop businesses”.

Timpson calls for ‘common sense’ on rates

Sir John Timpson, chairman of Timpson, says that unless policymakers get their “thinking straight on business rates”, retailers will continue to close, saying: “I pray the Treasury will see common sense.” Sir John believes Rishi Sunak’s rates holiday and furlough scheme “was a shrewd investment” when many shops were shut, arguing that by keeping strong firms solvent, the Chancellor has secured a substantial future source of tax revenues. However, he says a lack of news on any extension to the business rates holiday before the March budget has left retailers “on our knees”, arguing that confirming a concession now could help retailers plan ahead and avoid closures. Sir John adds that there are two “even more fundamental business rate problems”, a lack of a level playing field between bricks-and-mortar and online retailers; and a continual increase in rates when rental values have been falling.

Court rules on business interruption payouts

The Supreme Court has ruled that insurers must pay out on disputed coronavirus business interruption claims, meaning small firms could share around £1.2bn in payouts. This comes as a result of a test case brought by the Financial Conduct Authority (FCA), with the ruling potentially affecting up to 370,000 firms holding 700 types of policies issued by 60 insurers.

Judges rejected appeals from six insurance companies and largely supported the arguments made by the FCA and a group representing policyholders. One of the judges called the insurers’ actions “clearly contrary to the spirit” of their policies.

The FCA says it will be working with insurers to ensure they “move quickly” to pay claims to businesses. The Supreme Court ruling follows an appeal from insurers who questioned a decision by the High Court, which had found in favour of policyholders on most key issues in September 2020.

The Federation of Small Businesses welcomed the Supreme Court ruling, with chairman Mike Cherry saying many firms had been left in “financial limbo” by insurers refusing to pay out on claims for losses caused by the first national coronavirus lockdown. Rob Benson, head of insurance at Grant Thornton, said insurers will now need to review policy wordings in order to assess the impact on their potential liabilities.

Loan woe for the self-employed

Some banks are refusing to provide mortgages to self-employed workers if they took coronavirus support loans or income grants, despite the Government and the banking watchdog saying the payments would not affect credit ratings. Robert Sinclair, chief executive of the Association of Mortgage Intermediaries, said banks are referring applications from the self-employed to their manual underwriters automatically, meaning fewer self-employed people are being granted a mortgage.

The Financial Conduct Authority has said making use of one of the financial support schemes should not prevent self-employed people from accessing credit.

Meanwhile, analysis shows that Santander is limiting its mortgage products to 60% loan-to-value for the self-employed, while NatWest will ignore debts being cleared for employed borrowers when assessing affordability on a mortgage application but will still factor them in for the self-employed. TSB limit s new self-employed borrowers to mortgages with a maximum LTV of 75%, Halifax has placed limits on how much the self-employed can borrow, Metro Bank requires more bank statements from the self-employed than other applicants and Nationwide is limiting its 90% mortgage products to salaried employees only.

Labour says Universal Credit cut will damage the economy

Labour has warned that the economic recovery from the coronavirus crisis will be damaged unless the Chancellor extends a £20-a-week increase in universal credit. Rishi Sunak is reportedly planning to give benefit claimants a £500 payment as an alternative to a £20-a-week benefit uplift to universal credit put in place to help people amid the pandemic. Responding to reports of the mooted one-off payment, shadow work and pensions secretary Jonathan Reynolds warned that with Britain facing “the worst economic crisis of any major economy,” winding down support by cutting universal credit “will be devastating for families already struggling to get by, and leave unemployment support at a 30-year-low.” He added that the move “will damage our recovery.” Torsten Bell, CEO of the Resolution Foundation think-tank, said it would be “madness” to decrease basic unemployment benefits at a time when t he economy needs a boost from consumer spending.

Concerns raised over workplace safety

Unions have expressed concern that employees are being forced to go into workplaces that are not compliant with coronavirus-related safety guidelines during lockdown. Analysis shows that the Health and Safety Executive (HSE) received 2,945 complaints about safety issues between January 6 and January 14. Pointing to a Government pledge to get tougher on those flouting lockdown rules, TUC general secretary Frances O’Grady said: “If the Government is upping enforcement, ministers should start with employers who break COVID safety rules.” She added a call for greater resources for HSE, saying this would help “stop rogue employers getting away with putting staff at risk.” HSE said inspectors “continue to be out and about, putting employers on the spot and checking that they are complying with health and safety law”.


The  government will begin a support scheme to help airports survive the downturn in flights due to the covid pandemic. They will get up to £8m each to cover costs such as business rates. Today all Britain’s “travel corridors”, which allow passengers from certain countries to enter without having to quarantine, will close, hitting airports in the pocket.


BT Group is facing a class action lawsuit over claims it failed to compensate elderly customers who were overcharged for landlines for eight years. In 2017, telecoms watchdog Ofcom found that BT had been overcharging 2.3 million landline customers since 2009.

House Prices

UK House Prices eased monthly in January, with buyers desperately racing to beat the stamp duty deadline. According to Rightmove, the average price of new properties coming to market declined 0.9% to £317,058 in January from £319,945 at the end of 2020.

100k call for stamp duty holiday extension

A petition calling for the stamp duty holiday to be extended beyond the March 31 cut-off has drawn signatures from more than 100,000 home buyers and sellers. Passing the 100,000 milestone means the matter must now be formally considered for debate in Parliament. More than 50 MPs have added their voice to calls for the tax break on property transactions to be extended by a further 12 months to help support the property market amid the coronavirus pandemic.

Housebuilders back extended stamp duty holiday

A number of developers and housebuilders have backed a campaign calling for the stamp duty holiday to be made permanent. Sarwjit Sambhi, chief executive of developer St Modwen, said the levy is an “impediment” to some deals, arguing that “everybody recognises” scrapping the duty is good for the economy in the long run. Greg Fitzgerald, CEO of housebuilder Vistry, believes that “from a confidence perspective”, stamp duty is better off being axed or reduced as “you will get more money from housing transactions generating tax.” Rob Perrins, managing director of Berkeley Homes, commented: “Any transaction tax is a very bad tax”.


Boris Johnson is holding talks with business leaders today about cutting red tape, as ministers draw up plans to turn Britain into the “Singapore of Europe” now that it has left the EU. The Prime Minister will speak to 30 senior leaders about “regulatory freedom” and reforming EU rules. Leaders from BP, BT, Unilever and Jaguar Land Rover will be at the first meeting of the committee, named the ‘Build Back Better council.’

Equivalence delay may drive divergence

Industry sources say with the EU refusing to grant UK financial services access to the single market, Britain may be forced to diverge from EU rules. The European Commission are said to have no immediate plans to provide British firms in 28 sectors market access through equivalence.

While the UK granted the bloc equivalence in several areas of business in November, Brussels will not grant equivalence to UK firms unless the Government details how far it plans to diverge from EU rules in the future. Miles Celic, chief executive of TheCityUK group, said that both markets are “dynamic and as they evolve the likelihood, and value, of equivalence will shrink”, while Professor Sarah Hall of Nottingham University, said equivalence should be seen as a “perishable good”, arguing that the longer it takes for a decision to be made on it, “the more likely it is that UK based financial service firms will take decisions to operate without equivalence”.

Financial services and the future

The Sunday Telegraph’s Michael O’Dwyer weighs the post-Brexit climate for financial services, saying that Chancellor Rishi Sunak believes leaving the EU will “reinforce the UK’s position as a globally pre-eminent financial centre”. Tony Gaughan, leader of global asset management at Deloitte, says: “The industry would like more opportunities to bring the broader aspects of investment management and servicing industries back onshore into the UK,” while Richard Hammell, Deloitte’s UK head of financial services, says the UK may want to “economically invest disproportionately” in infrastructure and technology so as to be the “leading centre for the digital future of financial services.”


Friday the FTSE 100 closed down 1% at 6735.7 and the Eurostoxx 50 fell 1.15% as stocks ended down at the end of a rough week.  Stocks in the US likewise fell with the S&P down 0.7% and the Nasdaq down 0.9% as traders weighed President-elect Joe Biden’s $1.9 trillion stimulus plan along with the latest earnings from some of the biggest US banks.

Asian Markets were mostly lower outside of China (which was up on strong GDP numbers), tracking the weakness on Wall Street on Friday.

Sterling is at 1.121 Euros and 1.353 US Dollars. Brent Crude is at $55.1 and Gold is at $1832.


China’s GDP grew by 2.3% in 2020 and by 6.5% in the fourth quarter, year on year, making it ironically the best-performing large economy by far, during the covid-19 pandemic.  And it is speeding back up as with growth in the fourth quarter at an annualized rate of 6.5% with the main momentum in its manufacturing sector as it become the worlds factory during the pandemic. As the west spends its money on goods rather than services while shut in at home, those goods are made in China.

Next in line for Topshop

With final bids due tomorrow, Next is seen as the frontrunner to buy Sir Philip Green’s Arcadia retail empire out of administration. The fashion chain is bidding for the group in partnership with US hedge fund Davidson Kempner. It faces competition from JD Sports, which has held talks with Authentic Brands over a joint bid, while Mike Ashley’s Frasers Group is also said to be in the running. Administrators from Deloitte are aiming to wrap up the sale of Arcadia by the end of the month

Ashley in Peacocks bid

Sports Direct boss Mike Ashley has bid around £65m for Peacocks, the discount fashion chain which collapsed in November. If the bid – which is said to be £5m below the figure sought – is not accepted, it is believed that Peacocks founder Philip Day or his associates are likely to buy the chain’s stores. Edinburgh Woollen Mill, another of Mr Day’s chains, was recently bought out of administration by Purepay, whose assets are pledged to Mr Day, with administrators from FRP saying the deal has saved 246 stores

NCP withholds rent

NCP is in dispute with landlords, with the car park operator refusing to pay rent and calling in Deloitte to negotiate – a move that has prompted speculation that it may seek a CVA. NCP, which is owned by Japan’s Park24 and the state-backed Development Bank of Japan, has reportedly missed the December rent quarter payment. It is also said to have told landlords it is unable to pay monthly rents.

HMRC urged to waive late-filing penalties

With the self-assessment tax deadline fast approaching, HMRC has been urged to waive penalties as filers struggle amid the coronavirus crisis. The ICAEW has requested the Government reconsider its stance on late-filing penalties due to the impact of the pandemic, with chief executive Michael Izza writing to HMRC to suggest fines should be waived for at least two months. Pointing to the disruption stemming from the latest nationwide lockdown, staff absences due to sickness and self-isolation and continuing postal delays, Mr Izza said resources are stretched, adding: “To relieve the mounting pressure on tax agents and their clients, we believe that HMRC should announce an automatic waive of late filing penalties as soon as possible.”

25k delay tax bills, while 1-in-4 freelancers plan to spread payments

HMRC data show that almost 25,000 people have opted to spread their tax bill over 12 months rather than paying it by the January 31 deadline, with the delays covering around £69.1m. Meanwhile, analysis from Which? shows that a quarter of self-employed workers plan to delay paying. HMRC has said it will be lenient to those who miss the deadline, will accept coronavirus as a reasonable excuse for being late and waive fines. The Revenue has also extended the appeals window by three months to April. Separately, the Guardian offers tips for those filling in their tax returns, noting that HMRC expects to see more than 12m submissions, with it thought that around 4m have yet to be logged.

Chancellor rules out wealth tax

The Chancellor has reportedly opted against using an emergency wealth tax to help cover the cost of the coronavirus pandemic. While Rishi Sunak has been presented with a proposal that would see a one-off levy on those with assets of more than £500,000 – or couples with assets of £1m – including family homes and pensions, he is said to have privately ruled out the move, deeming it “un-Conservative” and against the party’s aspirational values. The proposal, put forward by the Wealth Tax Commission, said a 5% levy on wealth could raise £260bn. Former head of the Civil Service Lord O’Donnell believes that taxes will need to rise if austerity measures are to be avoided. Writing in the Commission’s report, he says that to avoid breaking a manifesto pledge, ministers may need to consider new taxes. He adds that governments have made “radical changes to taxes when there has been public understanding that change is needed”. While suggesting a wealth levy is not the way to go, Mr Sunak is considering proposals to raise capital gains tax. The Office for Tax Simplification has suggested cutting the tax-free sum for CGT and aligning rates with income tax bands of 20%, 40% and 45%, with the Institute for Public Policy Research think-tank estimating that such a move could raise an extra £90bn over five years.

Sunak planning tax increases

Rishi Sunak is planning to begin raising taxes in March’s budget, with the Chancellor looking at ways to start rebuilding the nation’s finances after the blow dealt by the coronavirus crisis. The Sunday Times’ Tim Shipman and Caroline Wheeler say that after talks with the Prime Minister, the Chancellor is set to announce an extension of government support, including the furlough and business loan schemes, and could also extend the stamp duty holiday. They add that senior government sources have suggested that if the coronavirus vaccination programme proves to be a success, Mr Sunak could confirm measures designed to tackle the deficit, with corporation tax the first levy in line for an increase. While property taxes are not expected to be altered in the upcoming budget, officials are said to be exploring measures that could see council tax and stamp duty abolished in the future, with the charges re placed with a proportional property tax levied on the existing values of homes.

Think-tank: Tax rethink could help level-up the UK

Think-tank Onward has urged Chancellor Rishi Sunak to cut taxes that dis-proportionally hit the UK’s poorest regions, saying doing so would help advance the Government’s levelling up agenda. Onward analysis highlights how the tax system could be targeted to reduce inequalities, suggesting that while corporation cuts would “overwhelmingly benefit London”, raising investment allowances would benefit the north, the Midlands and Wales. Onward director Will Tanner has warned that “ministers are trying to overturn decades of regional economic divergence with one hand tied behind their back” by overlooking tax policy. He said decisions such as whether to raise council tax or to cut corporation tax “are not regionally neutral decisions”, arguing that the Treasury has “probably not done enough to understand the regional consequences of its tax policies.”

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.

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