One million to lose jobs –  business news 28 September 2020.

James Salmon, Operations Director.

A predicted million to lose jobs a new bailout fund, Brexit negotiations resume, a squeeze on living standards, insurance, housing, national debt,  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.

Predicted one million to lose jobs

Economists have warned that a further one million to  lose jobs by the end of the year with the Chancellor’s latest intervention deemed inadequate to prevent the likely surge in unemployment. Capital Economics said Rishi Sunak’s plan “won’t be enough to counter the economic impact of fresh restrictions” and that unemployment would rise to “at least 7%”. Deutsche Bank agreed that it “won’t do very much to stem the rise in unemployment”.

Chancellor leaving a million workers vulnerable, Labour claims

The Labour party is warning that over a million to lose  jobs  in sectors most vulnerable to lock-downs, such as the nightlife industry, sports, events and conferences, and creative, arts and entertainment. The Treasury’s new support scheme for jobs will see only staff able to work at least one-third of their normal hours receive wage top-ups – something that will prove “impossible” for entertainment and hospitality industries, Labour said. “Labour has called for the Government to come forward with an effective plan to recover jobs, retrain workers and rebuild businesses. This isn’t it,” said Lucy Powell, Labour’s business spokesperson. “Even for those who can access it, the job support scheme is badly designed and could lead to a wave of job losses, because the chancellor’s sums do not add up for businesses. He must think again.”

Banks hold steady amid unemployment threat

Analysis by the EY Item Club indicates that another full lockdown would blow a £100bn hole in the UK economy. Howard Archer, chief economic adviser to the Item Club said the fall in GDP during Q2 wiped more than £104bn off UK output. The full extent of a similar shock would depend on how long any new measures lasted, he said. But a bigger threat to the economy was rising unemployment,  with a predicted million to lose jobs , the fear of job losses leading to a reduction in consumer spending. On the upside, Sir Howard said the “banking system is open for business and there’s no sense of an impending credit crunch” and if “the mists cleared sufficiently” by the fourth quarter they will probably return to paying dividends

Natwest and Lloyds have hinted at the strength of their balance sheets, with Natwest chairman Howard Davies saying lenders would resume paying dividends if regulators lifted the ban. Following pressure from the BoE’s Prudential Regulation Authority, British lenders agreed in March to scrap dividends totalling roughly £8bn for the year in order to shore up their finances against the economic downturn caused by the pandemic. The PRA is set to assess whether to extend the ban beyond the end of the year in the next three months.

Officials race to build £15bn bailout fund by Christmas

The Treasury is in talks with a “significant range of institutions”, such as pension funds and insurers, over a private sector led fund to bail out struggling businesses. Stephen Welton, chief executive of the Business Growth Fund, is in talks with investors to create a £15bn pot, potentially backed up with taxpayer cash, to take equity stakes in companies laden with debts following the lockdown. Mr Welton said the longer it takes to act the harder it will be to recover. “These businesses can run on empty for three to six months, but they cannot keep doing that indefinitely,” he added. The fund would take equity stakes of up to £10m in mid-sized businesses where there is an “obvious and significant” funding gap. The move comes as restructuring experts brace for an insolvency surge next year. Ric Traynor, chairman of Begbies Traynor, states: “Those that are hanging on and had the advantage of furlough won’t have it any more and the modest contribution of the Government won’t make much difference.”

CBI concerned about Brexit-Covid combo

A survey by the Confederation of British Industry reveals 77% of British businesses want a deal between the UK and the EU to be agreed with only 4% of businesses saying they preferred a no-deal outcome. Carolyn Fairbairn, the CBI’s director-general, pleaded: “Now must be the time for political leadership and the spirit of compromise to shine through on both sides. A deal can and must be made.”


Cabinet Office minister Michael Gove is heading to Brussels at the start of a week of talks about the UK’s future relationship with the European Union. Mr Gove will meet European Commission Vice President Sefcovic to discuss implementation of the Brexit divorce deal.

The final scheduled round of Brexit talks gets underway today and both the EU and UK are warning that progress must be made in order to meet the October deadline for a trade deal. The European Union says the U.K. needs to accept some of the bloc’s key demands and the U.K. indicated it was hopeful that some progress can be made in areas of contention.

Thinktank warns of ‘major squeeze’ on living standards

The Resolution Foundation predicts that six million poor households will be £1,000 a year worse off from next April after the Chancellor failed to extend the £20-a-week boost to tax credits and universal credit. The thinktank has urged Rishi Sunak to rethink the move and reinstate the financial help he introduced at the start of the COVID-19 pandemic. Torsten Bell, the Resolution Foundation’s chief executive, added that the Chancellor’s winter jobs package provides little incentive to top up the wages of those working part time because it was cheaper to employ one full-time worker than two workers on short time. He went on to say that the “poorly targeted” £7.5bn job retention bonus should be scrapped with the cash redirected “to ensure the new support scheme gives firms the right incentives to cut hours rather than jobs.”

Poor money skills fuelling ‘rise in debt and despair’

New research  shows that almost 40% of people who say they lack money management skills are in more debt now than they were six months ago. A third are eating into their savings and 41% are struggling to pay bills. However, people with stronger financial skills have far fewer problems, with just 9% reporting problems covering their everyday costs. Almost 80% of people who have used a financial adviser have savings and investments of less than £100,000. Steven Cameron, pensions director at Aegon, comments: “We need to set the record straight that taking financial advice isn’t just the preserve of high earners or those who’ve already built up large amounts of savings and investments.”

Is the UK’s booming housing market heading for a bust?

The FT reports on predictions of a sharp downturn in the housing market next Spring as the stamp duty holiday comes to an end and the Help to Buy scheme gets overhauled and over a million to lose jobs.

UK national debt soars £36bn in August

Figures from the ONS show that the UK’s national debt surged by £35.9bn in August, £30.5bn more than the same month last year, as the price tag for support measures to help the economy through the pandemic rose. The extra borrowing took Britain’s total debt to a record of £2.024trn. Receipts from VAT, corporation tax and income tax all dropped substantially, the ONS said. The total tax take was £37.3bn in August, £7.5bn less than a year before. Day-to-day expenditure came in £19.5bn higher than in the same month last year at £78.5bn. Paul Craig, portfolio manager at Quilter Investors, said that although debt is now more than 100% of GDP, the Government should remain “comfortable” because interest rates remain low and may even turn negative.

MPC’s Silvana Tenreyro defends negative interest rates

Silvana Tenreyro, an external member of the Bank of England’s Monetary Policy Committee, has rejected criticisms about negative interest rates insisting the evidence from other countries was “encouraging” and that banks would cope with further pressure on their finances. Ms Tenreyro’s comments come after the Bank last week stirred observers with news it had launched formal talks with the Prudential Regulation Authority about the operational practicalities of the policy. But analysts think such a move remains unlikely, with Rob Wood, chief UK economist at Bank of America predicting zero rates rather than negative while Kallum Pickering, senior economist at Berenberg Bank expects an additional £100bn of QE in November instead, adding: “There are more merits for yield curve control in the UK than there are for negative interest rates.”

Covid loan lifeline delays reckoning

The Sunday Times’ Emma Dunkley considerED how Rishi Sunak’s extension to emergency finance for businesses has provided a lifeline for businesses and relief for under-pressure banks concerned about the prospect of bad debts. David Cumming, chief investment officer for equities at Aviva Investors, says future lockdowns will risk wiping out the benefit of the extension, due to the economic impact, but banks also expect loan impairments will not be as bad as expected. The Chancellor has said new support schemes will be available from the start of next year and Stephen Pegge of UK Finance says the breathing space he’s provided means there is more time to discuss what comes next. “What will be important for the new phase is that it supports a broader range of businesses with more flexible finance,” says Pegge. “Some sectors will be hit more than others and there will be local lockdowns, so you’ll want that flexibility.”

Small businesses in pain as insurers mull appeal

The Sunday Telegraph considerED some of the long and short-term implications of insurers appealing the case brought against them by the Financial Conduct Authority concerning Covid-related business interruption claims. The High Court ruled they should pay out on business interruption contracts and if insurers decide not to appeal some cash could start flowing to small businesses forced to shut during the pandemic. Experts predict insurers, partly influenced by reinsurers, will inevitably contest some of the judgement’s findings because the outcome is going to determine how contracts are written and interpreted for some years to come. If the High Court does grant permission to appeal, the fear is that by then thousands of firms could be forced to close before the case is resolved.

Insurers ordered to end ‘shameful’ cuts

Insurers have been ordered not to use emergency COVID-19 support provided by the Government to offset insurance payouts to businesses. John Glen, economic secretary to the Treasury, said the Government would take action to “protect financial support being issued to businesses” if insurers continued to deduct grants intended to help companies survive the crisis from insurance claims.

Flawed policies will speed London market’s decline

Rival insurance markets will profit from London’s insistence on using standardised insurance policies which are often ambiguous and leave policy holders unsure of their cover, according to a new report from insurance adviser Mactavish. Lloyd’s of London has been pushing the standardisation of contract wordings so that insurers can more accurately measure their exposure to possible payouts. But Mactavish CEO Bruce Hepburn says the vague contract wordings seen in Covid-related business interruption policies is being replicated across other types of business cover, including in the growing cyber insurance market.

When the time comes, the pandemic will have to be paid for

The Independent’s James Moore considers the mounting pressure for tax reform as countries look ahead to paying for the pandemic, noting EU moves to root out corporate tax avoidance and Ireland’s fight not to take €14.3bn in back taxes from Apple. Moore suggests companies like Apple that have benefited from the pandemic and their profits should be taxed appropriately to help pay for the rebuild. Companies that have had massive taxpayer support should also see a higher proportion of their future profits taxed, says Moore. But the corporate sector cannot shoulder the burden on its own, he continues, arguing for wealth taxes and green levies and zero cuts to public spending.

Covid-19 general news

Global Covid-19 cases topped 33 million as infections in India reached the 6 million mark. The official death toll neared one million worldwide with over 997,000, though experts say the real tally may be almost double that.

SAGE the UK government’s scientific advisory group estimates the reproduction level of C-19 is now between 1.2x- 1.5x. London Mayor Sadiq Khan said that London is at a “very worrying tipping point”.

The U.K. is preparing to enforce a social lock-down across much of northern Britain and potentially London amid a second wave, the Times of London reported. On Monday, a U.K. health minister refused to rule out more restrictions, even as lawmakers pushed back against allowing the government unfettered power to introduce new curbs. All pubs, restaurants and bars would be ordered shut for two weeks, according to the report. Schools would stay open as well as shops, factories and offices where staff can’t work from home.

A Conservative Party rebellion against Boris Johnson’s emergency covid powers is gaining momentum after opposition parties signaled their support. The House of Commons plans a vote Wednesday on renewing legislation that allows ministers to impose new rules to combat the pandemic without first seeking parliamentary approval. But a growing band of Tory rebels want to amend the law to put a check on the government’s power.

Tesco has reintroduced rationing and purchase limits on key items to prevent a de-stocking problem similar to lock-down in April 2020.

Research has shown that those with an impaired interferon response form a significant minority who get very ill from Covid-19.  One study showed that patients with antibodies to the immune substance are at high risk of severe infections, while a second found DNA flaws in interferon-related genes in at least 10% of severe Covid patients, most of them men. The research may help explain why men are at higher risk of serious disease; it also suggests that raising interferon levels may help some patients.


Sterling weakness at the end of last week led the FTSE to out perform indexes on the continent. There were concerns over resurgence in covid-19 infections in Europe, with worries over a return to lock-down. In the US stocks  shook off uncertainty about a deal on fiscal stimulus, as the economic woes of the COVID-19 pandemic continued to hit. Tech investors were buying the dip, lifting that sector 2.4% and pushing the Nasdaq composite up 2.3%,  while the S&P 500 rose 1.6%.

Oil prices dipped in early trade on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand. God prices however steadied as the dollar rally paused ahead of the first presidential debate.

future of Pre-Pack Pool in doubt

The body set up to provide independent oversight of contentious pre-pack administrations has warned that continued delays to the publication of a report from the Insolvency Service into prepacks could speed its demise. The Pre-Pack Pool said last week that referrals of connected-party pre-pack administrations remain low, “perhaps as a direct result of the Government’s relaxation of insolvency rules because of the economic impact of COVID-19”. Concerns over the Pool’s future come amid the prospect of an increase in pre-packs as companies struggle amid the fallout from the coronavirus pandemic.

PM could rebalance tax policy to rescue his levelling up promise

The Sunday Telegraph lookED at the challenges Boris Johnson faces in trying to hold to his promise to level up the country after the coronavirus threw a spanner in the works. Experts point to the “widening generational divide” as a key source of discontent with Deutsche Bank analyst Henry Allen arguing that the anger felt by younger generations toward the older is “manifesting itself into political outcomes”. Liz Emerson, cofounder of the Intergenerational Foundation, says it is time for tax policies to be reshaped to ensure the young “are not left to foot the bill for the economic carnage”. Suggestions from the Foundation include a greater emphasis on taxing assets over income, moving more of the tax burden from earned to unearned income and the scrapping of capital gains tax exemptions on main residences. Chris Sanger, head of tax policy of EY, puts forward other potential measures, such as a higher personal tax allowance for younger workers, or changes to pensions that match the reliefs on money going in with the tax paid on the income that eventually comes out.

Business rates must not be re-imposed, ministers warn

Ministers are warning the Chancellor that it will be “politically impossible” to reimpose business rates after the coronavirus crisis and he should scrap the levy altogether. Alok Sharma’s business department and Robert Jenrick’s communities department are leading the push while others want business rates replaced with a fairer tax. One minister told the Sunday Express: “We cannot reintroduce business rates. The trouble is once you take them away people get used to operating without them, and then if you reintroduce them it feels like a massive tax rise. It will be deeply unpopular and could put many people out of business.”

Report claims Boohoo knew of Leicester factory failings

An independent investigation reveals that Boohoo executives were aware of “endemic” problems at its Leicester suppliers, including that staff were not entitled to paid holiday or sick pay, were working brutally long hours and were paid less than the minimum wage. The review, conducted by Alison Levitt QC, found no evidence Boohoo had committed any crimes, but said the company failed to take action fast enough and warned that its supply chain is likely riddled with bad behaviour. It said that Boohoo’s monitoring of the factories was “inadequate” because of “weak corporate governance” and called the failure to assess the risk to workers during the coronavirus pandemic “inexcusable”. Several papers draw attention to reports that auditors witnessed large numbers of employees fleeing premises when they arrived to inspect them. Auditors found failures in identity verification, recording of hours, paymen t of wages, health and safety violations and instances of potential furlough fraud.

Millennial investors would go against morals

One in four millennial investors would go against their personal beliefs if the returns were high enough, according to research by Schroders. The study of more than 23,000 people around the world revealed that 25% of investors aged 18-37 would be willing to compromise for a return of 21%.

Sir Jim Ratcliffe moves to Monaco

Sir Jim Ratcliffe is to quit Britain for Monaco in a move that could save the petrochemicals magnate £4bn in tax. The Ineos founder is estimated to be worth £17.5bn. People who live in Monaco for at least 183 days a year do not pay any income or property taxes. The highest tax rate in the UK is 45% on income above £150,000-a-year.

Retired Brits abroad could face Brexit charges on pensions

British expats in Europe could face punitive charges to access their pension pots if their UK bank accounts are closed after Brexit. With increasing numbers of banks telling expats their accounts would be closed by the end of the year, expats who are paid their pensions through UK bank accounts could have to pay fees to money transfer companies and get poor exchange rates. A spokesman for UK Finance said: “The impact on each customer will vary depending on the operating model of their bank or provider, the product or service being provided, and the legal and regulatory framework in the country in which they are resident.” Ros Altmann, a former pensions minister, added that the fees facing pensioners were a “potential hidden cost of Brexit. It will increase costs for UK citizens living in the EU who may now need their pensions paid in to an EU bank account.”

Vestager to appeal judgement in Apple State aid case

The European Commission has said it will appeal a ruling from the General Court of the European Union (GCEU) in July which found the Irish government had not given a tax advantage to US tech giant Apple. The Commission’s team, led by the EU’s competition chief Margrethe Vestager, argued in 2016 that Apple had to repay €13bn euros in unpaid taxes to Ireland, after the latter granted “undue tax benefits” to the firm. The allegation was contested by Apple and the Irish government. The European Commission will now take the case to the European Court of Justice. Peter Vale, a tax partner at Grant Thornton, commented: “From Ireland’s perspective, the appeal by the EU Commission keeps the matter in the spotlight for a few more years, which could have adverse reputational implications for Ireland, regardless of the ultimate outcome. Had the commission decided not to appeal, closure would have been bro ught to the case, which would have been a positive development for Ireland, and indeed ironically for investment into the EU as a whole.”

Regus threatens landlords with insolvency if they don’t cut rents

The serviced offices giant IWG, formerly known as Regus, is threatening to dump hundreds of lease commitments unless landlords agree to swingeing rent cuts. Boss Mark Dixon is set to put Jersey-based subsidiary Regus plc into insolvency dissolving £790m of lease guarantees across 500 centres. The Times points out that in January last year IWG extracted a £635m dividend, all but wiping out its assets, so this move has infuriated landlords, one of whom said: “This was not about Covid — this was clearly pre-determined … It is immoral at best.”

Trump used losses to reduce tax bill, NYT reveals

The New York Times claims to have obtained tax-return data pertaining to US President Donald Trump and his companies covering over two decades, with the paper saying it shows the US president paid just $750 in federal income taxes the year he won the presidency and another $750 for the following year. In 10 of the previous 15 years he paid no income taxes at all due to chronic losses, the paper claims. The Inland Revenue Service is reportedly contesting a $72.9m tax refund Trump claimed after declaring huge losses. Trump’s lawyer Alan Garten, said that “most, if not all, of the facts appear to be inaccurate.” Trump himself declared the story “fake news”.

Buyer sought for Edinburgh Woollen Mill

The Sunday Times reports that Philip Day has enlisted advisory firm FRP to run an emergency sale process for Edinburgh Woollen Mill and budget fashion retailer Peacocks. Separately, buyers are also being sought for the more upmarket EWM brands Jaeger, Austin Reed and Jacques Vert. Due to the impact of COVID-19, Day has reopened fewer than half his 1,100 stores and has skipped rent payments. The Bangladesh Garment Manufacturers and Exporters Association says its members are owed £26.8m, and thousands of EWM’s 24,000 employees remain on furlough

Administrator of Monarch Airlines paid £5.5m fees

The Times reports on the administration on Monarch Airlines which collapsed three years ago. Up until April this year, KPMG has charged £8.2m in fees for its work and received £5.5m of that so far. The administration has been extended until April next year following an application to the high court last month as KPMG continues to deal with corporation tax matters. A KPMG spokeswoman said its fees “reflect the complexity of dealing with the administration of what at the time was the largest airline insolvency ever seen in the UK”.

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.

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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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.