Jobless could pass 3m –  business news 14 September 2020.

James Salmon, Operations Director.

Jobless predicted to pass 3m, challenges for SMEs, office return warning, hospitality, retail, 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.

Pfizer Inc. Chief Executive Officer Albert Bourla said it’s “likely” the U.S. will deploy a Covid-19 vaccine to the public before year-end and that the company is prepared for that scenario.

Jobless total could pass 3m

Economists have warned that new restrictions to halt the spread of coronavirus could push unemployment above 3m by the end of the year, estimating that the jobless total could rise above the 3.28m recorded in 1984.

While a consensus among analysts calculated before new social distancing curbs were announced says the figure could near 3m by year end, it has been suggested that this total could rise on the back of the new restrictions. Economic Perspectives estimates the jobless total could reach 11%, or 3.75m people, while Professor Trevor Williams, a former chief economist with Lloyds Bank Commercial Banking, says unemployment could hit 13%. The Bank of England last month predicted unemployment could reach 7.5% by the end of 2020 but Howard Archer, chief economic adviser at the EY Item Club, says the outlook for the fourth quarter is now “much dodgier than a few weeks ago.” “Downside risks to the economy have picked up recently, not least with the danger of more restrictions on top of those just announced”, he added.

Firms plan 380k redundancies

Analysis by the Institute for Employment Studies (IES) shows that UK employers said 380,000 job cuts were being planned from May to July. This compares to 180,000 job cuts that were planned from January to March 2009, the height of the last recession. The figures on potential job losses come from a Freedom of Information request looking at notifications of planned job losses lodged with the Insolvency Service. With Labour Force Survey redundancy figures having been around 20% higher than figures identified through Insolvency Service notifications in recent years, the IES estimates that 445,000 jobs could be made redundant between July and September. Researchers say redundancies could reach 735,000 this autumn. It is noted that the figures do not include employers cutting fewer than 20 jobs, so the total redundancy figure is likely to be higher.

New challenges for small firms

Sarah Bridge in the Mail on Sunday says small firms that have made it through the lockdown face new challenges as support schemes wind down, adding that local lockdowns and uncertainty over Brexit mean many smaller businesses “feel they must dig deep to ensure they survive”. Tej Parikh, chief economist at the Institute of Directors, says now is a “crucial” time for small firms, noting that while support schemes are being lifted, consumer demand isn’t back to previous levels. “As a result, there’s great uncertainty over making key decisions such as launching new products or committing to new investment,” he adds. Emma Jones, founder of small business network Enterprise Nation, points to optimism among SMEs, however, saying: “Businesses have gone through so much uncertainty in recent years – for example, the General Election, Brexit and coronavirus. Many feel that if they have survived all these events, they can survive anything.” She believes that a lot of small firms “have come out of lockdown stronger than when they went in.”

Small business face local lockdown hit

James Hurley in the Times warns of the impact local coronavirus lockdowns could have on small firms, noting that British Chambers of Commerce director-general Adam Marshall says that as local restrictions are likely to become more frequent, “a comprehensive package of support will be needed for affected firms”. Ministers have announced that smaller firms with a rates valuation, annual rent or mortgage bill below £51,000 that are forced to shut amid a lockdown would be eligible for £1,000 every three weeks. The Federation of Small Businesses welcomed the assistance, but chairman Mike Cherry has called for “greater help”. He notes that resources are available, with £1.3bn linked to small business grants going unspent by local authorities. “There’s nothing to stop the Treasury repurposing that money to create a new discretionary fund for use by local authorities, aimed at those who have received no help to date and those affected by local lockdowns,” Mr Cherry suggested. He has also called for a successor to the job retention scheme, cuts to VAT and cost reductions “that can help those in hard-hit areas.”

CMI chief in office return warning

Ann Francke, CEO of the Chartered Management Institute (CMI), has warned that a Government drive to get people back into the workplace could create a two-tier system that sees white men in the office making important decisions while women and people from ethnic minorities are excluded at home. She told the Guardian: “The risk is when we go back into the office, the people that go back will be the senior leaders. And we know that those senior leaders are largely white men.” She added: “That will reinforce the kind of exclusionary, lack of diverse culture at the top of organisations. I think that would be a very dangerous step backwards.” This comes as a CMI poll shows 42% of managers believe a lack of childcare will have a negative impact for female employees, while just 20% believe it will be a problem for men.

Work shifts

Ben Chu in the Independent considers the impact a move toward home-based working could have on young employees. Carolyn Fairbairn, director general of the Confederation of British Industry, notes the importance of certain interactions, saying: “Learning face to face in the workplace is an unbeatable way to build skills and confidence”. William Gosling of Deloitte says digital technologies can replace some of the informal learning that takes place in a physical office, adding: “We’re in the foothills of how this is going to evolve”. Elsewhere, the FT looks at shifts in working patterns as staff return to offices, with PwC pointing to a blend that will see all staff using the office “on some days”.

Scholz: No-deal would hurt UK economy more than EU

German finance minister Olaf Scholz says a no-deal Brexit would do more damage to the UK economy than the EU’s, warning that an “unregulated situation would have very significant consequences for the British economy.” He added that EU preparations mean the bloc “would be able to deal with it and there would be no particularly serious consequences”.

Virus debt presents no-deal challenge for small firms

Debt taken on to help survive the coronavirus crisis means small firms in Wales face challenges preparing for a potential no-deal Brexit. The Federation of Small Businesses Wales says nine in ten members have reported cashflow problems related to the pandemic, with FSB Wales’ Joshua Miles saying: “One in five of our members have had government backed loans, others have gone into debt, used credit cards, some borrowed money from friends and relatives, and others have used their own life savings”. This, he adds, means small firms “just haven’t had the time or money to prepare for something like a no-deal Brexit.”

Hospitality sector faces new blow

Blick Rothenberg partner Richard Churchill has warned that new coronavirus restrictions limiting gatherings to six people will hit the events and hospitality sector, saying: “Just when businesses thought they would generate revenues in September, the rug has been pulled from beneath them.” Meanwhile, Peter Bracey, managing director of Bracey’s Accountants, has warned of an “insolvency time bomb” unless businesses factor in the cost of repaying the Government’s COVID-19 support.

End of eviction ban could see hospitality ‘bloodbath’

With a Government ban on evictions ending on October 1, retail and hospitality businesses could see a surge in collapses as landlords prepare to call in unpaid rent. Tenants that have been unable to cover rental costs amid the coronavirus pandemic may face legal action to evict them from shops, restaurants, bars and pubs once the ban is lifted. Trade body UK Hospitality has called on the Government to extend rent relief until the end of March 2021, with chief executive Kate Nicholls saying the sector could see a “bloodbath” if landlords take action over unpaid rent. Meanwhile, food firms have written to the Government asking for a targeted extension of the commercial evictions ban, with the bosses of firms including Deliveroo, Itsu and Burger King saying a rent holiday should be extended for restaurants in city centres and for those in areas under lockdown.

Retail coalition calls for fresh support

Chancellor Rishi Sunak has been urged to offer more support to the struggling retail sector, with a coalition of chains warning that 10,000 jobs could be wiped out if business rates are reinstated in April, saying they would be forced to close 800 branches. The group are calling for a decision on any aid package to come soon, saying that if firms are left without clarity they may assume no further support is coming and close stores and cancel stock orders. Mr Sunak announced a £10bn business rates holiday for high street businesses in March as the sector was hit by the COVID-19 lockdown.

UK economy grows 6.6% in July as coronavirus restrictions eased

The Office for National Statistics (ONS) reported GDP grew by 6.6% in July as more parts of the economy opened up from the coronavirus lockdown. ONS director of economic statistics Darren Morgan said of July’s growth: “While it has continued steadily on the path towards recovery, the UK economy still has to make up nearly half of the GDP lost since the start of the pandemic.” Yael Selfin, chief economist at KPMG, said of July’s GDP figures: “Expect more of the same in August owing to the boost from the Eat Out to Help Out scheme.” But she added: “The risk of a second wave of infections in the autumn could derail the nascent recovery and put the economy into a lower gear.” Debapratim De, senior economist at Deloitte, comments: “Activity has bounced back strongly over the summer. But the risks of a further spike in COVID-19 cases, the impending withdrawal of furlough support, and continued uncertainty ove r Brexit loom large.”

CEBR expects house prices to fall

With Nationwide data showing that average house prices rose 2% to a record £224,123 in August, the Centre for Economics and Business Research (CEBR) says the climb is likely to be an anomaly driven by a temporary stamp duty cut and pent up demand as the market stalled amid the lockdown. The CEBR says its analysis points to prices falling “significantly” toward the end of 2020 and into the first half of 2021. It said that while prices might see a “short spike” as the stamp duty cut draws to an end next March, average house prices are forecast to be 13.8% lower in 2021 than in 2020.

Economic crisis a threat to the union

Richard Murphy of Tax Research UK believes the economic crisis brought about by the coronavirus pandemic could lead to the break-up of the union, warning Prime Minister Boris Johnson that Britain’s “identity is at threat … if he doesn’t get the answers to this economic question right.”

Covid-19 general news

The World Health Organisation reported over 307,000 new covid-19 infections on Sunday, a daily record. It said around 5,500 people had died from the disease, taking the total to more than 917,000. India, Brazil and America remain the major hotspots. Israel, meanwhile, became the first country to reimpose a full lockdown.

New U.K. coronavirus cases held above 3,000 for a third day, prompting the government to tighten restrictions and bring in the rule of six and undermining efforts to convince Britons to return to work and help revive a shattered economy.

The University of Oxford and AstraZeneca Plc have restarted a U.K. trial of an experimental Covid-19 vaccine after it was halted over concerns about a participant who fell ill.

There won’t be enough Covid-19 vaccines available for everyone in the world until the end of 2024 at the earliest, the chief of the world’s largest vaccine maker said in an interview with the Financial Times.


UK and European stocks rose on Friday after choppy trading as a no-deal Brexit and a stronger Euro battled rising US stocks

While the S&P gained,  technology stocks again faded down the stretch Friday, pulling the Nasdaq down for the fifth time in six days. %. Selling in the US picked up after Dr. Anthony Fauci said the latest data on the U.S. COVID-19 outbreak was “disturbing,” with a worrying level of new infections even as the number of daily new cases remains far lower than the peak

Oracle announced it had been chosen as winner in the much discussed deal for TikTok’s U.S. operations. Reports indicate that ByteDance, the Chinese owner of the short-video platform, has agreed to enter a “technical partnership” with the American software giant, falling short of a full sale. President Donald Trump insists that TikTok’s American arm be divested, citing worries about national security.

SoftBank, a Japanese conglomerate, agreed to sell the UK chip designer Arm Holdings to Nvidia, an American chipmaker for $40bn. Four years ago SoftBank bought Arm for $32bn. Nvidia said its new acquisition would continue to be based in Cambridge.

The United Kingdom secured a free trade agreement with Japan that is set to increase trade with the country by an estimated £15.2bn. The UK-Japan Comprehensive Economic Partnership Agreement is the first trade deal to be signed since Britain left the EU earlier this year.

The House of Lords may block Boris Johnson’s efforts to pass controversial legislation seeking to override the Brexit withdrawal agreement, peers have warned. Former Conservative Party leader, Lord Howard of Lympne, said he would be “very surprised” if the UK Internal Market Bill was passed through the House of Lords. Former PM’s Blair and Major combined to denounce the plan which would break international law and damage the UK’s standing in future international treaties castigating the government for “embarrassing the UK”.

The US Budget Deficit has reached a record high after topping $3tn (£2.3tn) as the government’s mass spending on coronavirus relief continues. The treasury department said it spent more than $6tn in the first 11 months of its financial year, which included $2tn on Covid-19 programmes.

Rishi Sunak could delay autumn budget

The Chancellor has asked the Office for Budget Responsibility “to prepare an economic and fiscal forecast to be published in mid-to-late November” without setting a date for an autumn budget – raising the prospect that it could be delayed.

Former chancellors warn Sunak against tax increases

Rishi Sunak has been warned by two former Tory chancellors that a tax raid on business would risk wrecking Britain’s recovery. George Osborne and Sajid Javid said the Treasury should instead seek to rein in spending to restore public finances. The advice comes as forecasters warn that the country faces a brutal autumn with growth fizzling out. Speaking at an online conference hosted by the Centre for Policy Studies think tank, Mr Osborne said: “For the UK, an open trading economy, having a competitive business tax environment is really important. For me, Britain jacking up the business tax rate, what message does that send to business around the world?” Mr Javid echoed the warning, adding that ending the furlough scheme in October is a “gamble” and “billions of savings” could be found from government departments instead.

Sunak mulls tax breaks for businesses

Edward Malnick in the Sunday Telegraph reports that Chancellor Rishi Sunak is considering tax cuts designed to encourage big companies to invest in machinery and factories in a move the Treasury hopes would boost the economy. The mooted plan would see firms given a full tax break on capital investment, allowing them to deduct the costs from their bills immediately. Currently, companies are given tax relief on the first £200,000 of investment, with a temporary two-year increase to £1m expiring in January. Research in the US shows that full tax breaks can push investment up by 17.5% and increase wages by 2.5%. A Centre for Policy Studies report earlier this year said such an initiative “would mean businesses investing more, leading to higher incomes and more tax revenue”. Mr Malnick says the Chancellor could introduce full expensing for a temporary period as part of measures to jump-start the eco nomy after the coronavirus pandemic hit the nation’s coffers.

Tax cuts would help ‘levelling up’ plan

City AM ’s Stefan Boscia looks at reports that Chancellor Rishi Sunak is considering tax cuts for businesses that invest in property, plants and equipment in an attempt to stimulate economic activity in the wake of the coronavirus crisis. He suggests the move could spur firms in the North and Midlands to increase investment and employ more people and would be seen as a part of the Government’s plan to “level up” regions that have fallen behind due to de-industrialisation. Mr Boscia says news of potential tax breaks will be welcomed by those concerned over reports of potential tax rises in the autumn Budget, with the Chancellor said to be mulling increases for capital gains and inheritance taxes as he looks to rebalance the books following the economic hit from the pandemic.

Expert in tax warning

Blick Rothenberg partner Robert Pullen has warned over tax increases the Chancellor is reputedly weighing up, saying: “The Government might be eyeing up longer-term structural changes to the tax system but doing so now would be a huge gamble.”

Ministers urged to deliver ‘coherent message’ on economic policy

Phillip Inman in the Observer calls on the Government to deliver a clear message on economic policy, saying that a “coherent message from government would be one that learned the lessons of the 2008 crash and George Osborne’s failed austerity project in 2010.” He adds that this would “rule out tax rises, leaving talk of reforms to the balance of wealth and income taxes to longer-term reviews.”

Arcadia accused of exploiting furlough rules

According to leaked documents obtained by the Times, Arcadia, run by Sir Philip Green, exploited furlough rules to cut pay while taking tens of millions in government handouts. The company has accepted tens of millions of pounds to pay furloughed staff. It has also made 300 staff redundant at its head office and used a loophole in government regulations to pay them at a reduced rate during their notice period. The Times claims that many higher-earning employees will receive as little as 50% of the notice period pay they would have been entitled to if Arcadia Group had not taken advantage of the furlough scheme. Arcadia has since informed staff of a partial U-turn in its policy following questions from the paper. Those with a 12-week notice period who are not returning to work will now receive full pay from November 1st until the end of their notice period. The company said that this decision had been made after the consultation with employees had ended in late August. A leading editorial in the Times on Saturday says that the furlough scheme was intended to alleviate, not aggravate, the worries and hardship of British workers, and that Sir Philip has questions to answer.

Furlough fraud arrests made in London

HMRC officials raided homes in Romford and Walthamstow on Thursday where an accountant and a company director were arrested over a suspected £70,000 furlough fraud. The arrests come just days after MPs were warned by the taxman that up to £3.5bn has been overpaid as part of the Coronavirus Jobs Retention Scheme.


Landlords call for end of eviction ban

Commercial landlords have called on the Government to drop a ban on evictions so they can serve notice on retailers who fail to pay their rent. Vivienne King, chief executive of real estate lobby group Revo, has asked Suella Braverman, the Attorney General, to prevent the freeze on evictions from being extended. King said: “While we recognise the moratoria were imposed as an emergency measure, that emergency must now be treated as having passed with the requirement coming to an end, given that other government support interventions are ending.”

No loan charge deadline extension

Jesse Norman, the Financial Secretary to the Treasury, has said the Government has no plans to extend the deadline for people facing the loan charge. In a written response to a question tabled by MP Owen Thompson, who asked if the loan charge declaration deadline would be extended from the end of this month to the end of January 2021 due to the coronavirus outbreak, Mr Norman noted that the September 30 cut off already represents an extension from the previous January 31 2020 deadline. He said the deadline for individuals due to pay the loan charge to submit their 2018/19 self-assessment returns and pay the tax due or agree a time to pay arrangement “has long been established”. He added that HMRC “will keep the situation under review” and take a “proportionate and reasonable approach” to anyone unable to file their tax return and pay the tax due – or agree a time to pay arrangement – as a direct result of COVID-19.

France renews push for EU digital tax if global efforts fail

Bruno Le Maire, France’s finance minister, said on Friday that the European Union should push ahead with its own digital tax early next year if broader efforts to find a global solution do not bring a breakthrough in the coming months. With a blueprint for a deal due from the Organisation for Economic Cooperation and Development (OECD) next month, the aim of reaching an agreement by a year-end deadline is looking increasingly challenging. Speaking to reporters at a meeting of European finance ministers in Berlin, Mr Le Maire said he wanted to have a fair and efficient international taxation system as soon as possible, ideally within the OECD framework, but if that does not prove possible, then the EU should go it alone. France already has a tax on digital services, but has suspended it until the end of the year to avoid a clash with the United States, where the biggest digital firms are located, and to give the OECD time to work out a global solution.

Holiday park boss could be made bankrupt over debts

Simon Moir, the businessman behind collapsed holiday park operator Dream Lodge, could be forced into bankruptcy, with Deloitte pursuing him over unpaid debts. The Telegraph says Deloitte, which was called in by parent company Walsham Chalet Park Limited, remains hopeful that agreement can be reached to repay a director’s loan of £414,000, allowing investors to recoup at least some of their investment. Deloitte said: “We are in discussions with Simon Moir for the repayment of these sums. If he is unable to repay the liquidators will be entitled to make Simon Moir bankrupt without having to await the outcome of the substantive claim.”

Chemists in funding call

More than 1,300 local chemists have written to Chancellor Rishi Sunak urging him to look at pharmacy funding, with analysis suggesting as many as three-quarters of family-run chemists could be forced to close over the next four years. The letter warns Mr Sunak, whose mother was a pharmacist, that unless changes are made to how pharmacies are funded, many will be unable to survive. This, they add, will result in unemployment and put more pressure on the NHS. Analysis by EY shows 28% of independent pharmacies were making a loss in 2019, with it estimated that the average pharmacy will be making an annual loss of £43k by 2024.

BBC boss seeks greater efficiencies

Director general Tim Davie will use the launch of the BBC’s annual report to criticise the corporation’s wastefulness and call for efforts to deliver further efficiencies. The report itself, which identifies savings of £199m in 2019/20, cites an independent study from Deloitte showing 95% of controllable spend is on content.

Estate agents: Be quick to secure stamp duty boost

Estate agent body NAEA Propertymark has advised those looking to take advantage of the stamp duty holiday that they may need to act quickly. It says sellers need to market their home by the end of September to maximise their chances of getting the transaction completed before the March 31 2021 cut-off, noting many conveyancing services are operating at reduced levels, while mortgage applications and surveys are also said to be suffering delays amid backlogs and staffing issues.

Council’s failed energy firm leaves £60m debt

Nottingham City Council’s failed attempt to run an energy company left it with debts of more than £60m. A report from the council’s auditor Grant Thornton says issues around Robin Hood Energy, which was bought for an undisclosed sum by British Gas, “will have a direct impact on the council’s financial reserves and leave it with a need for more challenging savings plans.” Grant Thornton has warned the local authority that the need for “service cuts or increased efficiencies has thus been significantly increased directly as a result of the financial performance of Robin Hood Energy”. The auditor added: “This is not how local authorities should look after large amounts of public money.”

RBS altered files ahead of review

Documents suggest that Royal Bank of Scotland employees altered customers’ files ahead of an independent review into mis-selling of interest-rate swaps. By altering information ahead of the review carried out by KPMG and overseen by the Financial Conduct Authority, RBS staff potentially helped the bank to avoid paying millions in compensation. While the alterations appear on files related to a swap sold to a partnership of NHS doctors, a whistleblower has told the Independent other customers’ files may have been tampered with in a similar way.


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


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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.

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.

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 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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See all our latest news here!

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