Retail sales climb while manufacturing and services soar –  business news 24 August 2020.

James Salmon, Operations Director.

Retail sales climb while manufacturing and services soar, SMEs prove their resilience, a surge in new companies, a war on waste and lots more business news.

Here are CPA we want to  share the business news stories we have seen that we think will affect our members and readers. Many of us are busy fighting to protect our businesses and therefore might have missed some of the news that could impact small businesses, their owners and those that sell on credit.

Retail sales climb while manufacturing and services soar

Retail sales climb to above pre-pandemic levels in July, according to Office for National Statistics (ONS) figures, with volumes up 3.6% between June and July and sales now 3% higher than February.

Ruth Gregory, senior UK economist at Capital Economics, said the figures suggested that “the recovery in physical shops was more impressive than the headline figure and that shoppers are starting to return to the High Street”. But Helen Dickinson, chief executive of the British Retail Consortium, warned the results “mask a crisis under way in some parts of the retail industry.”

Separately, activity in the UK’s manufacturing and service sectors during August grew at the fastest rate for nearly seven years, according to the IHS Markit/CIPS composite purchasing managers’ index (PMI), which gave a preliminary reading of 60.3, the highest figure since October 2013. A figure above 50 indicates expansion.

However, IHS said the companies it spoke to “continued to note that levels of demand remained well below those seen prior to the pandemic”. Samuel Tombs, an economist at Pantheon Macroeconomics, warns that the slump in the composite PMI in the eurozone, where the rebound is roughly one month further advanced, “suggests that the UK’s recovery soon will lose momentum too.”

SMEs prove their resilience

Small retailers are the most bullish of all SMEs, according to data from Barclays, which show retail SMEs expect their revenues to grow 16% over the July to September period, compared to just 5% for all sectors.

A third maintain a positive outlook for their sector, versus a 24% average for all businesses. SMEs in general are more optimistic as second quarter losses came in lower than expected.

Rob Cameron, chief executive of Barclays Payments, said: “SMEs are once again proving their resilience and role at the heart of the UK economy, especially in the face of coronavirus.”

Post-lockdown surge in new companies

The Sunday Express reports that 75,000 new companies were formed in June, a rise of almost 25,000 on the same month last year. In the first seven days of August, 21,000 new companies were formed, which is equal to an annual rate of almost a million.

Clive Rich, the chief executive of LawBite, an online platform which connects SMEs with affordable expert lawyers, said: “Even in the height of COVID-19, 80% of our inquiries were about SMEs wanting to get on and move their business forward. I think small businesses are more resilient than forecasters give them credit for.”

He added: “I expected a surge after Covid as a lot of people finding themselves out of a company job can say to themselves this is the perfect opportunity to do something for myself, be my own boss and balance my work-life better, knowing they can now do it all remotely. Even the SMEs that have struggled in Covid may want to have another go with another venture.”

Sunak to launch war on waste

The Chancellor Rishi Sunak has moved to bolster the Treasury’s grip on infrastructure projects as part of a new Whitehall war on waste, the Sunday Telegraph reports. The move comes amid mounting concern over the state of public finances and growing pessimism over the prospect of a V-shaped economic recovery.

A Government source said: “The UK economy has taken a huge hit and it’s fair to say our public finances are now under significant strain. So now we really have got to get to grips with how money is being spent and scrutinise in close detail on what. The Chancellor is determined to ensure that in these difficult times taxpayers’ money is spent efficiently and that government projects deliver good value for money for people.”

Workspace firm forced start-ups to pay rent

A workspace company has come under fire for allegedly ordering start-ups to pay thousands of pounds a month for offices they did not use during the COVID-19 lockdown. IWG is said to have rejected tenants’ requests for full payment holidays when the Government had ordered workers to stay at home. Boss Mark Dixon said all 306 of the shared workspace offices run by his Regus brand in the UK had remained open and that it was up to tenants if they did not use them. “It is more of an ‘I don’t want to commute’ story’,” he said. A number of start-ups and entrepreneurs have set up a crowdfunding campaign to fund a group litigation against IWG.

Government urged to extend business grant deadline

The Local Government Association, the Institute of Directors, the Federation of Small Businesses and the British Independent Retailers Association are among a raft of groups calling on the Government to extend business support grants before the schemes are closed at the end of this week. Over £11bn has been distributed to some 880,000 small businesses since March by local authorities, but roughly £1.5bn remains unallocated. Many small businesses claim that they have been unfairly excluded from accessing the grants due to eligibility requirements and say that they still need financial help.

Landlords facing crunch as remote working gains traction

Estate agency Savills predicts that vacancy rates at City office buildings will rise from 6.5% this year to 7.2% next year, before peaking at 8% in 2022. The forecast comes as businesses shrink their headquarters in the wake of the coronavirus pandemic as workers prove they can work from home productively.

For some companies, the enforced switch to remote working is likely to be a springboard to permanent change, says Sam Chambers in the Sunday Times, pointing to expectations at PwC that most of its 22,000 UK staff will work flexibly after the pandemic and plans by KPMG for staff to be allowed to spend part of the week working remotely permanently.

Anna Purchas, head of people at KPMG UK, comments: “This is a chance to break free from engrained, traditional routines, and say goodbye to presenteeism.” But a shrinking London office market will prove tough for landlords such as British Land and Land Securities, already hit hard by the collapse in retail property values.

Investors in property funds must prepare for fall in assets

Analysis by the data company Morningstar has found that people who invested property funds that have since been frozen have seen the value of their savings dwindle by more than £338m in four months.

Laura Suter, a personal finance analyst at the investment platform AJ Bell, said: “Investors need to brace themselves for a sharp reduction in the value of the assets when the funds do reopen.” She pointed out that property investment trusts are down about 18% since the start of the year. This compares with an average decline of about 3% in their open-ended counterparts.

Time to revise business rates system

The British Retail Consortium (BRC) and the Federation of Small Businesses (FSB) are calling on the Chancellor to reform business rates arguing that high street shops need a fairer tax system to help them compete against online giants.

FSB chief Mike Cherry said: “It clobbers those with shop fronts and barely touches the out-of-town warehouses of online-only giants.” He added: “Smaller, independent high street businesses are at the heart of their communities and remain on-trend with millions of savvy consumers.” BRC chief executive Helen Dickinson comments: “Government must ensure a more sustainable long-term tax system – avoiding retailers being hit by a sudden end to the business rates discount in April.”

UK public sector debt goes above £2trn

Public sector debt has exceeded £2trn for the first time following extraordinary borrowing measures by the Government to support the economy during the coronavirus pandemic. Total debt hit £2.004tn in July, £227.6bn more than last year, the Office for National Statistics (ONS) said.

Spending on measures such as the furlough scheme means debt has risen above 100% of GDP for the first time since the 1960-61 financial year, with July’s borrowing at £26.7bn marking the fourth highest borrowing in any month since records began in 1993.

Chancellor Rishi Sunak commented: “This crisis has put the public finances under significant strain as we have seen a hit to our economy and taken action to support millions of jobs, businesses and livelihoods. Without that support, things would have been far worse. Today’s figures are a stark reminder that we must return our public finances to a sustainable footing over time, which will require taking difficult decisions.”

Some 6m furloughed employees worked from home during lockdown

A study by academics at Oxford, Cambridge and Zurich universities suggests nearly two-thirds of the 9.4m workers put on furlough during the coronavirus pandemic broke the rules by doing their jobs from home during lockdown.

Surveys involving almost 9,000 workers found about a third of those who broke the rules were “explicitly compelled” to carry on working by their bosses.

MP Meg Hillier, chairman of the Public Accounts Committee which will question HMRC bosses on the issue next month, said: “HMRC needs to urgently get a grip on these issues around fraud of the furlough scheme. Employees are being put in incredibly vulnerable positions and employers need to face tough sanctions for this. We know people are trying it on and it’s right they should be tackled.”

Treasury denies plans to scrap Digital Services Tax

Reports over the weekend that the Government could drop the Digital Services Tax have been dismissed by the Treasury. The Mail on Sunday claimed the tax was about to be scrapped as it was hampering negotiations with US trade officials while bringing in only £500m a year.   One source told the Mail on Sunday: “At just half a billion quid, Rishi has concluded it is just more trouble than it is worth, given the anger of Trump and the Washington establishment.” One source told the Telegraph the claims were “rubbish” while an official statement read: “We’ve been clear the Digital Services Tax is a temporary tax that will be removed once an appropriate global solution is in place – and we continue to work with our international partners to reach that goal.”

Eviction ban to be extended by four weeks

The ban on landlords evicting tenants in England and Wales, which was due to end on Sunday, has been extended until 20 September. Ministers were concerned that an estimated 230,000 renters were at risk of homelessness. The devolved administrations in Scotland and Northern Ireland have already banned convictions until next March.

Restructuring experts prepare for fresh wave of UK company failures

The FT reports on how specialists across accountancy, investment banking and law are preparing for a fresh wave of corporate distress in the autumn, when government furlough and loan schemes come to an end.

STA Travel collapses

The student travel agency STA Travel has ceased trading with 500 staff set to lose their jobs as a result. The company said all its 50 shops will close due to the impact of the coronavirus crisis, with customers told they would be contacted in the coming days regarding their bookings.

Debenhams owner calls in advisers as administration looms

The parent company of Debenhams has brought in FRP Advisory to work on its administration. Celine UK Newco 1 Limited, which is controlled by Debenhams’ lenders, bought the department store chain’s operating subsidiaries when it collapsed in April. Celine is the issuing entity of Debenhams’ £200m of 5.25% notes due in 2021, the coupon payments for which will now not be paid.

Harvey Nichols brings in restructuring experts

Harvey Nichols has called in restructuring experts from PwC as depressed footfall and an absence of tourists takes its toll. The group is understood to be reviewing the viability of its store estate and financing requirements.

Cullinane: How will we cover the cost of the coronavirus bailout?

Writing in the Independent, John Cullinane, the tax policy director at the Chartered Institute of Taxation, wonders how we will ever pay back the immense borrowing undertaken to keep the economy afloat during the coronavirus pandemic. Cullinane provides a succinct history of debt control in Europe from the C19 to present, and the role tax policy played. He points to wealth taxes as a current focus for some, but goes on to speculate on whether we need to worry about paying the debt at all: “If people simply save the money that they would have spent on meals out, and everything else foregone during lockdown, then these excess savings would balance the Government’s excess spending – there is no sign of inflationary pressure, and it’s not as if the Government has to pay much interest.”

Hancock plans mass testing regime to identify asymptomatic carriers

The Health Secretary has been intalks with Deloitte about developing a mass coronavirus testing regime that could see up to 4m people tested every day in the UK by early next year. Sources say Matt Hancock sees mass testing as critical to easing remaining restrictions on businesses and meeting family and friends as it would identify asymptomatic carriers and help ministers identify outbreaks and stop the spread of the disease.

Covid-19 general news

More than 800,000 people are now confirmed to have died from covid-19. America has suffered the most fatalities, about 176,000, followed by Brazil with 114,000, Mexico with 60,000 and India with 57,000. Fears of a second wave in Europe are growing. France, Italy and Spain reported the highest numbers of daily new infections since at least early May.

Britain’s chief medical officers said children should return to school after the country’s summer holidays, warning that missing out on their education posed much bigger risks to them than catching coronavirus. The country’s education minister, Gavin Williamson, is betting his cabinet career on getting children back in school in September in the teeth of fierce opposition from teachers’ unions.

France reported 4,897 new Covid-19 cases on Sunday, the largest one-day jump since the previous peak in mid-April. , While new cases reported in the U.K. stayed above 1,000 for a fourth day, and Italy reported 1,210 new covid cases on Sunday

America’s Food and Drug Administration gave emergency authorisation for the use of blood-plasma therapy to treat the virus. The treatment involves injecting antibody-rich blood from people who have recovered from the disease.

South Korean police executed a search warrant for membership lists of a church at the heart of the country’s latest outbreak of covid-19. Two waves of infection have been linked to religious groups. In the recent outbreak, more than 700 members of the church have tested positive, including its leader. Church members accuse the government of faking the results.

COVID-19 crisis demonstrates how essential management consultancy services are

Tamzen Isacsson, the chief executive of the Management Consultancies Association, explains in a piece for the Telegraph how the coronavirus crisis has shown how essential management consultants are. She points to how consultants have helped both public and private organisations with rapid digital transformation, cost cutting, supply chain repairs and other organisation developments whose change was accelerated by the pandemic. “If you ever thought that management consultancy services were simply a “nice to have”, the COVID-19 crisis has shown how they are essential – a “must have” if organisations are to achieve their goals quickly and effectively.”

Johnson resists Chancellor’s call to limit pension rises

Boris Johnson is pushing back on proposals from Chancellor Rishi Sunak to remove the “triple lock” on pensions to prevent a considerable rise in costs fearing a backlash from older voters. The PM reportedly believes the “optics are terrible” for such a move, which would also break a manifesto promise. New analysis by the Resolution Foundation has found that the state pension could rise by 7.4% over the next two years, costing taxpayers an extra £2bn annually. For pensioners, it would mean an increase from £6,981 a year to £7,497 in the two years. Scrapping the triple lock and aligning the state pension with earnings over both years would see rises reduced to 4.4%, while pensions would rise by just 1.8% if kept in line with inflation over both years.


Brexit was in focus on Friday after the UK’s chief negotiator David Frost said a trade deal is still possible with the EU, however warned “there has been little progress” after several rounds of talks. Sterling was subsequently lower against the Euro and the Dollar, and while the FTSE 100 started the day flat they slid into the red as the day progressed and eventually closed modestly lower at 6001.89, down 0.19%. The Erostoxx 50 closed down 0.43%.

Investors were also closely monitoring the release of economic data, looking for signals of recovery from the coronavirus pandemic. UK retail sales were up 1.4% in July, which was ahead of analysts expectations of zero growth. PMI was also ahead of analysts estimates, suggesting business activity across the UK was continuing to gain traction and the economy was in recovery

The UK Economy bounced back sharply in August after coronavirus restrictions were lifted, with a closely-watched measure of growth hitting its highest level in almost seven years. However, companies slashed jobs at the fastest pace since May as they adjusted to life during the pandemic, in a worrying sign of what could turn into a wave of unemployment. UK purchasing managers index soared to 60.3 in August from 57 in July, according to an early estimate. The highest score in almost seven years, it was well above the 50 mark that indicates expansion and better than analysts’ expectations of 57.1.

US Manufacturing PMI rose to a 19-month high of 53.6 in August, up from 50.9 in July, according to data released today. The market anticipated a more modest rise to 51.9.

Global dividends suffer worst quarterly fall since 2009

A report from Janus Henderson shows global dividend payments plunged by a fifth in the second quarter of the year – a $100bn drop which is the worst fall since 2009. The fund manager said that in the best-case scenario, it expected dividends to fall by 19% on an underlying basis this year, or 25% in its worst-case. It had previously forecast falls of up to 35%. “Despite the cuts witnessed so far, we still expect global dividends to exceed $1trn this year and next,” said Jane Shoemake, investment director for global equity income. The UK was one of the worst affected countries with over half of UK-listed companies cutting their payouts or cancelling them entirely, dragging total dividends paid in the quarter to $15.6bn, 54% lower than the same period a year ago. Of the countries with major stock markets, only France and Spain suffered steeper declines.

Eurozone industry fears rebound from virus crash will be shortlived

Economists fear a resurgence for manufacturing over the summer will fizzle out as pent-up demand is fulfilled and confidence remains depressed by the coronavirus pandemic.

Pandemic shows US must make vital products at home

Kevin McCarthy, the Republican leader of the US House of Representatives, explains in the FT how tax reforms will help re-shore production of medicine and technology back to the US. Elsewhere, the Times cites a report from Bank of America which estimates the cost of reshoring all foreign manufacturing (intended for export) from China at $1trn, describing the cost as “significant but not prohibitive”. The pandemic, fears of a US-China trade war, and a shift to stakeholder capitalism have all accelerated plans for reshoring, analysts said, adding that governments will be expected to encourage reshoring through tax breaks and other subsidies while manufacturers will attempt to offset costs with more automation.

Taxman to contact employers over furlough errors

HMRC is to contact some 3,000 employers asking them to review funds received as part of the Government’s Coronavirus Job Retention Scheme (CJRS), suggesting mistakes may have been made. Employers have 90 days from receiving the CJRS money they are not entitled to, to inform HMRC and then repay the money on time. Andrew Sackey, a tax partner at Pinsent Masons, said HMRC is “likely to come down hard” on employers which fail to use the amnesty to admit errors. Data reveals over 30,000 applications for the scheme were rejected, with HMRC understood to believe that many were clear attempts to defraud the system.

Over 20 large companies probed for tax evasion

HMRC is investigating 23 of Britain’s largest companies for tax evasion according to reports. Pinsent Masons says the businesses, which each have a turnover of at least £200m or assets worth £2bn, were referred to the HMRC tax evasion referral team, which the law firm says means “detailed investigations are almost certain to follow.” Andrew Sackey, a partner at the firm, suggests the taxman will step up its investigations into wealthy individuals it believes could be hiding funds offshore as it seeks to plug the hole in the Government’s finances, but HMRC has dismissed this as speculation.

HMRC probing over 10,000 reports of tax scams

HMRC is investigating more than 10,000 reports of tax scams designed to exploit the coronavirus pandemic, according to a freedom of information request by Lanop Accountancy. Scams included emails, text messages, social media posts and phone calls from fraudsters and typically offered tax refunds. Reports peaked at 5,152 in May falling to 2,558 the next month.

Pent-up demand drives surge in property sales

July saw a jump in property sales, according to official data, but levels were still well below those seen last year. Figures from HMRC showed sales in July were up 14.5% on June as pent-up demand boosted activity. However, sales were still 27.4% lower than last July. July’s figures do not incorporate the expected “mini-boom” in transactions following the Government’s cut to stamp duty announced on July 8. Shaun Church, of mortgage broker Private Finance, said: “The Government urgently needs to start preparing for how it is going to maintain high levels of demand after the tax threshold reverts to normal. A phased reintroduction of the lower threshold would ensure buyer activity does not suddenly fall off a cliff.”

A quarter of listed financial services companies issued alerts this year

Research by EY reveals that UK-listed financial services companies have issued more profit warnings so far this year than in the whole of last year. Forty-two were issued in the first seven months of 2020, with 36 of these citing the effects of the pandemic. Retail-focused companies such as banks, finance and credit services and non-life insurers were suffering the worst, with 50% issuing alerts, while investment banking, brokerage firms and asset managers fared better with 15% of such companies issuing warnings. Tom Groom, UK head of financial services strategy at EY, said: “Since the financial crisis, banks, asset managers and insurers have all built up strong reserves and largely entered this period of economic challenge in a position of capital strength, but no sector has been immune, and the uptick in listed financial services firms issuing profit warnings is concerning.”

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.

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.

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

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

CPA on Linkedin

CPA on facebook

CPA on twitter

See all our latest news here!

Housekeeping: Opening a New Account

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

Get paid earlier by understanding why late payments happen.

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

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

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

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

Understand the “why” behind late payments

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

10 Bad Habits Every Credit Controller Should Give Up

The Credit Controller’s Best Friend

Debt Recovery: It’s Easier Than You Think!

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

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

Read our blog here on how to crack down on the late payment culture.

Read our blog here on how to give late payers the slap they need.

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

Read our Cash Flow Advice

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog – How to select a debt collection agency

20 ways to avoid identity theft

see our blog – 15 steps to avoid invoice fraud

Overcoming 5 common reasons for disputed invoices

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

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