Real living wage rises – Business news 9 November 2020.

James Salmon, Operations Director.

We look at the rise in the real living wage, GDP expectations, a pre-christmas slump prediction,  closed shops, debt levels, business loans, manufacturing, furlough , 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.

Real living wage rises

The Living Wage Foundation has announced an increase in the voluntary real living wage to £10.85 an hour in London and £9.50 elsewhere. The new rates will be paid by almost 7,000 employers giving more than 250,000 UK workers a pay rise. The Living Wage Foundation rate is now 78p an hour more than the Government minimum wage for over 25-year-olds and the London level is £2.13 an hour higher. Laura Gardiner, Living Wage Foundation director, said: “It’s an incredibly challenging time for us all, but today’s new living wage rates will give a boost to hundreds of thousands of UK workers, including thousands of key and essential workers like cleaners, care workers, and delivery drivers who have kept our economy going.”

Third-quarter GDP expected to have risen by 15.5%

The Chancellor’s “eat out to help out” scheme launched in August drove a rise in consumer confidence and with it GDP between July and September, analysts believe. Andrew Goodwin, chief UK economist at Oxford Economics, said without this increase in hospitality spending the 2.1% month-on-month growth in August would have been closer to the modest rise he expects took place in September, of 0.9%. Goodwin expects the continued reopening of the economy in July and the return of pupils to school in September will have pushed third-quarter GDP up by 15.5%. Philip Shaw of Investec puts his estimate at 15.8% following a more-optimistic growth forecast for September of 1.5%. The Office for National Statistics will on Thursday reveal the GDP growth rate for September and, with it, the figure for the entire third quarter.

Pre-Christmas slump expected amid further restrictions

Further job losses and shop closures are predicted in the run up to Christmas, according to business surveys. This comes despite measures to protect businesses during the latest COVID-19 lockdown. BDO said measures of business confidence and output fell for the first time since April in October. Kaley Crossthwaite, a partner at the firm said: “The green shoots of recovery that started to emerge in May have been dealt a blow by the announcement of a second lockdown.” Elsewhere, a study by the Chartered Institute of Personnel and Development (CIPD) and the recruitment firm Adecco showed that almost a third of UK companies planned to make redundancies. Gerwyn Davies, the senior labour market adviser for the CIPD, said: “The best that can be said is that the situation is getting worse more slowly. Employment looks set to keep falling and the relatively weak demand for labour means that it is going to be a long and hard winter, affecting young jobseekers in particular.”

Over one in eight shops failed to reopen after first lock-down

Research by PwC and the Local Data Company indicates that up to 5,552 retail outlets that closed in March have not managed to reopen over the summer, leaving over one in eight shops in limbo. A total of 36,209 of the 43,766 shops across Britain reopened after the lockdown, whereas more than 2,000 closed permanently, the analysis found. Zelf Hussain, retail restructuring partner at PwC, said: “Businesses including pubs and bars, Italian restaurants, dentists, cinemas, social clubs and entertainment venues are particularly exposed to remaining mothballed, while hair and beauty, Asian restaurants, estate agents, mobile phone shops and off licences, DIY shops and vaping stores are among those businesses that bounced back quickest and reopened at a higher rate.”

Unsustainable debt may stifle recovery

The Business Growth Fund is set to take stakes in growing SMEs to boost their survival chances during the pandemic, with the first investments of the £15bn National Renewal Fund expected to be made in the first quarter of 2021. But Stephen Welton, head of the BGF, warned the legacy of Covid could “materially affect the economy for generations”. He said: “We’re going to face the perfect storm of company failures, so increasing insolvencies and unemployment, combined with zombie companies that can survive but are just surviving to pay interest. Those two together will completely handicap the economy in terms of its ability to recover.” Separately, Sir Adrian Montague, head of the TheCityUK Recapitalisation Group, estimates that unsustainable corporate debt in the UK will hit £70bn by the end of March 2021 placing a “heavy drag” on the recovery.

Banks prepare for new bounce back loans boom

Following the decision by the Chancellor to extend the deadline for applications for bounce back loans and permit top-up loans from November to January banks are bracing for a flood of small business customers seeking access to the cash. NatWest estimated that about 100,000 businesses, or a third of its existing bounce back loan scheme (BBLS) customers, could be eligible for a top-up. Meanwhile, concerns have been raised over the high interest rates charged on debt accrued through the coronavirus business interruption loan scheme (CBILS), which can be as high as 14.99%, and big businesses are calling for the corporate financing facility (CCFF) to be extended for five years.

Small businesses may struggle to access fresh funding

The Guardian reports on concerns that, if the number of bounce back loans scheme accredited lenders shrinks, there will be a sharp rise in small businesses unable to access funds this winter. The worries stem from Tide being unable to offer any more loans because it is reliant on private investment to fund lending and the company ran out of funds in the summer. Tide is now reviewing formal documents linked to the scheme, and trying to figure out how it might finance the top-ups promised by the UK Government last week. Tide has so far failed to gain access to Bank of England loans to fund further bounce back loans. Mike Cherry, chair of the Federation of Small Businesses, said it was important that struggling businesses are given access to much-needed funds. “Given that many firms applied for bounce back facilities at a time when the extent of disruption was so unclear, it’s vital that the roll-out of the top-up initiative is a success.”

Outlook for small manufacturers stabilises

A survey of small manufacturing firms by the CBI has found that investment plans still remain weak for the year ahead despite improving in recent months. However, output fell at a considerably slower pace in the three months to October and the survey also indicated a decline in the number of firms worried about staff shortages, cash flow and demand for goods and services. Job cuts among SME manufacturers were significant in the latest quarter, but employment is now expected to rise modestly in the months ahead.

Reduced risk appetite causes borrowing rates to rise sharply

Interest rates for riskier borrowing hit multi-year highs during the pandemic with economists warning that rate cuts were failing to filter through to borrowers. The average interest rate on overdrafts for households has leapt 10 percentage points since February, while costs on high loan-to-value mortgages have risen as much as 140 basis points. Sanjay Raja, Deutsche UK economist, says policymakers at Threadneedle Street may need to intervene to ease credit conditions for borrowers. The Sunday Telegraph notes that a Bank of England survey found lenders were bracing for a sharp rise in mortgage defaults in the fourth quarter.

Tax reliefs would spur SME tech adoption

A report by Coadec, a business group representing start-ups, is arguing for tax reliefs to be provided by a Singapore-style digital adoption fund to help persuade small businesses to adopt productivity-enhancing technology. Coadec said government grants aimed at increasing business digitisation in Singapore were a “huge success” and a similar scheme could be “worth billions to SMEs” in the UK

Comments on Sunak’s latest furlough scheme

Both George Bull, senior tax partner at RSM, and Mike Warburton, former head of tax at Grant Thornton, comment on Rishi Sunak’s latest furlough scheme in letters published by the Times over the weekend. Mr Bull says the opportunity to remedy the shortcomings of the first scheme has been wasted and points out that unless changes are made immediately “workers whose income collapsed during the first surge because of gaps in that support scheme will endure hardship throughout the second surge.” Mr Warburton says the Chancellor’s latest announcements “appear less sure-footed” than those he made in March and he hopes Mr Sunak is able to maintain a degree of independence from No 10. Separately, the FT explains that those unable to claim from the Self-Employment Income Support Scheme include people who did not file a 2018-19 tax return because they had just started working for themselves, company directors, those earning more than £50,000 and people who earned less than half of their income from self-employment. Pressure is growing on the Government to support these groups too. Finally, a worker self-employed via a limited company says in a letter to the Telegraph that the Chancellor should “review the support for the public sector, rather than raking through the dying embers of the contractor and self-employed sector for additional savings.”

Covid-19 general news

More than 50.4m cases of covid-19 have now been recorded globally with 560,969 yesterday , according to Johns Hopkins University with 10 million in the US alone. Over 1.25 million have died with over 0.25 million in the US too. The U.K. reported more than 20,000 cases for the sixth straight day and Italy posted its fifth day above the 30,000 mark.

US President-elect Joe Biden is to make tackling the coronavirus pandemic his top priority following his win over Trump, his team says. Announcing the first steps in his transition plan, his team said there would be more testing and Americans would be asked to wear masks.

At least 12 people in Denmark’s Jutland region have been infected with a new strain of the covid-19, linked to mink farms. Minks appear to have caught the virus from humans, mutated it and passed it back to humans.  Health authorities warn that the mutated virus which has altered the spike proteins may be resistant to the covid-19 vaccines under development. The region introduced new lock-down restrictions and announced a mink cull. Britain removed Denmark from a list of countries from which arrivals do not need to quarantine.

The Pfizer vaccine has been shown to stop infections in 90% in the latest study.


Brexit continue this week with less than a week to solve the remaining issues on fishing and competition. Biden’s win and his poor view of Boris and Brexit will mean that a US trade deal has been pushed down the agenda and placed more pressure on UK negotiators.

EU negotiator Michel Barnier said the UK must “internalise” what is needed for a UK/EU deal. He has signalled the UK has shown no signs of movement on key issues.


The FTSE 100 was flat on Friday, closing up 0.07% at 5910 and the Euro Stoxx 50 fell 0.36% as European stocks fell. However markets are responding to the confirmation of Biden as the 46th president.

US Labor Department reported the unemployment rate fell to 6.9% in October down 1% as the economy regained 638k jobs, significantly above expectations largely due to hiring by hard hit sectors.

EU negotiator Michel Barnier said the UK must “internalise” what is needed for a UK/EU deal. He has signalled the UK has shown no signs of movement on key issues.

Markets rally at prospect of gridlock in Washington

The FTSE 100 recorded its best weekly performance since June on Friday, with gains for the week totalling 333 points, or more than 6%. Stock markets shot up on Wednesday and Thursday as it became clear that the late counting of absentee and mail-in ballots meant a big swing to the Democrat presidential candidate Joe Biden across key battleground states.

Wall Street boasted its best week since April while the S&P 500 rose some 7.3% through the week.

Markets were relieved by the prospect of a Democrat-led White House being constrained by a Republican Senate, preventing Mr Biden from introducing corporate tax rises and curbs on oil producers.

Technology shares rallied amid predictions they would no longer face changes to competition law.

Additionally, unemployment fell by a full percentage point, to 6.9%, beating forecasts of a decline to 7.7%. Chris Rupkey, an analyst at MUFG, said: “Surprisingly, the recovery from the recession for the labour market is more V-shaped than many thought. The job market is opening back up and will continue to do so as long as the economy doesn’t lock back down.”

The pound has fallen to 1.312 US Dollars and 1.106 Euros.

Average house price exceeds £250,000 for the first time

The cost of the average UK home has risen to more than £250,000 for the first time, according to the Halifax, with prices in October up 7.5% on a year ago. The stamp duty holiday and a surge in demand for larger properties with outdoor space, driven by pandemic lockdowns, have contributed to the rise in prices. However, the lender said the economic fallout from the COVID-19 crisis would put “downward pressure” on prices in early 2021.

Zoopla: House prices will keep climbing next year

House prices will continue to rise in 2021 even if the economy is rocked by soaring unemployment, Zoopla is predicting. Richard Donnell, Zoopla’s research and insight director, said prices could grow 4% this year and are unlikely to drop in 2021. He believes the property market will stay strong as wealthy people sell expensive city centre homes and move to the country. Prices will also be propped up for the first three months of next year by the stamp duty holiday and the extension of the Government’s furlough scheme until March. “I don’t see prices falling year-on-year by the end of next year. I just think they are going to slow down,” said Mr Donnell. “I don’t think we will see a lot of forced sellers next year and that limits the downwards pressure coming through on prices.”

No 10 explores ‘Crown Consultancy’ to stem billions going to private firms

The UK Government aims to reduce its dependence on outside experts by creating an in-house unit dubbed the “Crown Consultancy”, which would recruit young graduates to work alongside civil servants.

Amazon’s membership of CBI tax team raises questions about influence

The policy positions of the Confederation of British Industry are being influenced by big businesses that sit on its committees, the Times suggests. American tech giant Amazon is a member of the tax committee of the lobby group, which has criticised the UK’s new digital services tax, arguing that it was “high risk”. The paper points out that Unilever and Barclays, which are in dispute with HMRC over tax bills, are also on the committee. The Times cites a former chief executive of a FTSE 100 company who says Amazon’s membership “seems astonishing.” They add: “Whatever they’re thinking, it will reinforce society’s view that businesses have an agenda not to pay their way. That’s pretty stupid in these times.” Elsewhere in the paper further details of multinational influence on the CBI are detailed, leading John Longworth, former director-general of the British Chambers o f Commerce, to comment: “The [CBI] is rammed with foreign multinationals who are obviously not going to have the national interest at heart.”

Self-employed face tax trap if they borrow company money

Company directors forced to draw monthly dividends despite a steep drop in income during the pandemic could face hefty tax bills as they are technically taking out “directors’ loans” and unless they are repaid the individual is liable for the debt. William Wilson of Price Bailey estimated that thousands could now be at risk of falling into a tax trap. “Many small business owners are holding a ticking time bomb. They could be facing unexpected five-figure tax bills, which they are unaware of and are in no position to pay,” he said. George Bull of RSM adds that borrowing more than £10,000 from company funds would also result in an income tax bill for the director and National Insurance costs for the company.

Edinburgh Woollen Mill and Ponden Home collapse

Two retail chains owned by Philip Day have fallen into administration putting 2,900 jobs at risk. The Edinburgh Woollen Mill and Ponden Home chains collapsed on Friday after consultants failed to find buyers for the businesses. Tony Wright, joint administrator and partner at FRP, said: “The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses.”

Ashley ‘frozen out’ of auction for EWM brands

The Telegraph reports that Mike Ashley has been “frozen out” of the auction for three Edinburgh Woollen Mill brands. The tycoon’s Frasers group, which owns Sports Direct, House of Fraser and Evans Cycles, reportedly expressed interest in the Jaeger, Peacocks and Edinburgh Woollen Mill brands, part of Philip Day’s retail empire, which have been put up for sale. But according to a source quoted by the Telegraph, insolvency consultants at FRP Advisory “have been unhelpful throughout the process, either refusing to provide or providing very slowly the normal information a buyer would expect”. However, a spokesman for Mr Day said: “All the bidders for Peacocks and Jaeger have had access to the same information and ample opportunity to make an offer since we want to secure the best possible future for both these businesses.” The Edinburgh Woollen Mill and Ponden Home chains fell into administration on Friday after a protracted process to restructure the wider business.

Clarks CVA angers landlords

The 195-year-old shoemaker Clarks has been accused of abusing insolvency processes by pushing through a restructuring they have little chance of overturning. The CVA will result in most of its 320 UK stores moving to rents based on turnover and landlords are the only creditors whose debts, which total £160m, will be compromised by the CVA, yet they account for less than 25% of the votes. “This abuse of CVAs forces property owners to absorb significant losses with little attempt to build a recovery strategy they can support as economic partners,” said Melanie Leech, chief executive of the British Property Federation.

More people donating £1m or more when they die

A Freedom of Information request reveals that the number of people who leave charitable donations of more than £1m in their wills has risen by almost a third, to 3,043 in 2017-18, up from 2,328 the previous year. Eleanor Sepanski of Boodle Hatfield said wealthy individuals were probably leaving as much as 10% of their estate to good causes to make the most of generous inheritance tax breaks.

Review of listing structures aims to motivate more London floats

Lord Hill, former British commissioner to the EU and a non-executive director of the Treasury, is in line to lead a review into stock market listing rules as the Chancellor seeks to attract more tech start-ups to the City after Brexit. UK start-ups such as online fashion retailer FarFetch have picked the US over London, the Sunday Telegraph reports, with companies saying it is not just the listings regime that is attractive but the ease with which they can sell themselves to investors. Proposals likely to be considered by the review include reducing the minimum number of shares that must be sold publicly as part of a premium listing, and allowing dual-class share structures. The paper suggests both moves could raise questions over governance and control.

Last-minute fundraising expected ahead of rule change

A relaxation of fundraising rules comes to an end in three weeks, prompting the City to brace itself for a second wave of companies seeking funds from the market. The temporary change to rules on pre-emption rights was introduced by The Pre-emption Group, which represents the interests of shareholders, companies and brokers and whose secretariat is the Financial Reporting Council. Companies were permitted to raise the equivalent of up to 20% of their share capital through placings with a select group of shareholders under the new regime, in contrast to a typical threshold of 10% after which all investors have to be offered access. The regulator confirmed last week that the special measures will no longer apply from November 30th, however, the Times suggests the deadline could be extended.

Will Trump be charged with tax evasion after he leaves office?

Nick Akerman, a prosecutor during the 1970s Watergate investigation which led to the resignation of Richard Nixon, has predicted that President Trump will be charged with tax evasion after he leaves office. He claims that Mr Trump “has done a whole series of activities that could qualify as tax fraud.” New York prosecutors have been given permission to seek years of the President’s financial documents as part of an investigation into alleged “financial improprieties” within the Trump organisation which has been going on since 2017. A legal source familiar with the case said: “Trump has immunity from prosecution as long as he is President but come January 20, that immunity ends. No President has ever pardoned themselves but there’s always a first time.”

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.