Support for directors? – business news 7 December 2020.

James Salmon, Operations Director.

Treasury agrees to discuss plan to support directors and business owners, export finance for SMEs, Goldman Sachs optimistic on rebound, Covid vaccines boost hopes of recovery, Billions of unspent savings could spark explosive recovery, Over-50s illustrate Britain’s entrepreneurial spirit, covid-19, market and lots more business news.

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

Treasury agrees to discuss plan to support directors and business owners

Business leaders and tax experts have drawn up a rescue scheme for two million business owners to support directors currently locked out of coronavirus support. The Directors Income Support Scheme – designed by the Federation of Small Businesses, the Association of Chartered Certified Accountants and campaign group Forgotten Ltd – would be a grant based on the trading profits of small, actively trading companies. The idea will be discussed at a meeting with Jesse Norman, the Treasury minister, according to the Telegraph. Craig Beaumont, of the FSB, said: “Directors have set themselves up the right way, and paid their taxes just like everyone else, but have not received the income support lifeline.”

Government shakes up export finance support for small businesses

The UK Government is to provide extra financial help so exporters can apply for larger loans from the UK’s five high street banks after Brexit.

Goldman Sachs optimistic on rebound

Goldman Sachs analysts predict a rebound for the UK economy next year, with the bank forecasting that GDP will expand 7% in 2021, exceeding economists’ consensus. Goldman Sachs says the economy is likely to regain its pre-pandemic size by early 2022, climbing 6.2% that year, with economist Sven Jari Stehn saying: “We see substantial room for bounceback”. He adds that the UK is “well placed” to benefit from a COVID-19 vaccine, given the quantity it has pre-ordered and the speed with which regulators have approved the first jab. Meanwhile, Bloomberg Economics suggests the UK could see growth of 6% in 2021 on the back of the rollout of the vaccine. However, other analysts have urged caution, with Peter Dixon, an economist at Commerzbank, expecting the UK to “pick up more slowly than the rest of the EU.” He added that with “the complexities of Brexit to deal with … I don’t think the UK is in a very good place.” The median private sector forecast for GDP growth next year is 5.7%, according to forecasts compiled by the Treasury. The report shows that JP Morgan and Pantheon Macroeconomics are the most optimistic, having both predicted GDP growth of 7.5% next year.

Covid vaccines boost hopes of recovery

With vaccines set for mass roll-outs in the UK, business confidence is soaring to levels not seen since the lock-down in March, according to a survey by the Institute of Directors (IoD). Net optimism rose by 16 points but pessimism about the long-term prospects for the British economy remains with only one in four business leaders feeling upbeat about the economy next year. Tej Parikh, chief economist at the IoD, said: “The arrival of the vaccine provides some light at the end of the tunnel.” However, he added: “The prospect of a recovery makes it all the more important to support businesses for the time being. It would be a crying shame to see viable companies collapse just as the vaccine was round the corner.” Brexit remains a worry for business, with half of companies surveyed saying the lack of clarity over trading rules with the EU after Brexit was causing concern. Elsewhere, John Harris in the Guardian cites the OECD which says the recovery in activity is “becoming increasingly hesitant” and an economist in the New York Times who suggests that “the very concept of normalcy now seems open to question”. The pandemic is “the largest of a long chain of setbacks and calamities that date back decades,” Harris concludes. Roger Bootle offers a more “glass half-full” vision in the Telegraph, predicting a surge in consumer demand to kick off the recovery followed in time by a hike in corporate investment.

Billions of unspent savings could spark explosive recovery

Bank of England chief economist Andy Haldane says British families have saved an additional £100bn during lockdown and have begun to spend it as Christmas approaches. Mr Haldane said that between April and June, the Office for National Statistics’ savings ratio rose to 29% compared with 6.8% for the same period last year. Laith Khalaf, an analyst at AJ Bell, commented: “There’s an awful lot of dry powder sitting in people’s bank accounts which could spark an explosive economic recovery.” But it’s not good news for everyone. Figures from the Institute for Fiscal Studies show that middle class families had, on average, an additional £350 a month sitting in their bank accounts between March and September. The poorest households were typically £170 a month worse-off.

Over-50s illustrate Britain’s entrepreneurial spirit

The over-50s are responding to the pandemic job crisis by striking out on their own, setting up online businesses and typically working from home. Unemployment for this demographic jumped 33% in 2020, the biggest increase of any age and well above the average of 24% across all groups, according to job site Rest Less. The firm’s founder Stuart Lewis said over-50s offer decades of work experience. “They also have life skills – loyalty, resilience, empathy – and think laterally,” he added. Separately, the Independent looks at some of the high earning professionals who have used the chaos caused by the pandemic to kick-start a new career path, such as Amber Honey who left a £60,000 job at Deloitte to go into teaching. Ms Honey tells the paper that months of the lock-down and working from home provided lots of time for self-reflection and for a new perspective to develop.

Britain’s fintech industry will continue to boom post-Brexit

John Collison, the billionaire co-founder of payments titan Stripe, has said that the City’s fintech firms will continue to flourish post-Brexit as the industry raises its sights beyond the EU. The London market outstrips the US in terms of sophistication, Collison adds, and with London also home to the centres of the banking, political and technology sectors, start-ups are easily able to lobby for better regulations while also raising capital.

PM’s Green Revolution a “crazy” distraction from the pandemic

Lord Lawson, a former Conservative Chancellor, has described Boris Johnson’s Green Revolution as “absolutely mad” and a “crazy” project designed to distract the British public from the pandemic. He cautioned against what he called the PM’s “suicidal commitment” to going green at a time when the UK economy enters its biggest recession in 300 years as a result of coronavirus shutdowns. Lord Lawson goes on to say that the enthusiasm for shutdowns is “misguided” adding that “the evidence is accumulating that the harm done by the lockdown is greater than any good.”

PPE glut leaves UK manufacturers fearful for their future

A revival in manufacturing PPE equipment “has been strangled almost at birth” after the Government awarded contracts to firms with no experience in the field, creating a stockpile that has destroyed domestic producers.

Half of retailers at risk of collapse

Analysis by corporate health monitoring group Company Watch has found that 49.7% of all retailers are at risk of going bust, with health scores of 25 out of 100 or less. While historically, the average health score for the sector would be 50, it currently stands at 35. A score of 25 or under indicates a weak position with a one in four chance of failing within three years. The research also found that 18% of retailers are “zombies” with negative balance sheets, with a combined total of deficits of £2.4bn. However, the analysis is based on the latest accounts retailers have filed with the Government, with the majority not including trading since the COVID-19 pandemic hit in March, meaning that the situation is likely to be far worse. Nick Hood, senior adviser at Opus Restructuring, said that more retailers are likely to collapse after Christmas, particularly as their quarterly rent will be due.

Small Business Saturday sees shoppers spend £1.5bn

Shoppers spent an estimated £1.5bn yesterday, on Small Business Saturday, as they flocked to high streets for the first weekend since the second national lockdown in England was lifted. While the high spend will bring some relief to struggling retailers, the scenes of packed crowds in the busiest areas have sparked concerns of a rise in COVID infection rates, even before the five-day window where three households will be able to mix from December 23. Small business campaigner Michelle Ovens said: “We are optimistic that Saturday will be one of the biggest days for small businesses, helping boost those facing a compressed Christmas. The rising groundswell of affection we’re seeing for small firms from the public is also a positive indicator.”

More stores pledge rates relief return

Lidl, Pets at Home and WholeFoods have said they will hand back business rates relief, following moves by a number of fellow retailers that were granted a rates holiday despite remaining open throughout coronavirus lockdowns. Lidl yesterday confirmed it will refund more than £100m in rates relief, Pets at Home will repay £28.9m and Amazon-owned WholeFoods will pay back £2m. Tesco was first to announce plans to hand back money, pledging to return £585m, while Sainsbury’s has announced an intention to repay £440m. Asda has said it will return £340m, while Morrisons is giving back £274m and Aldi is handing over £100m. B&M has said it will repay £80m in relief, with CEO Simon Arora calling on ministers to reform the “outdated” business rates system. Meanwhile, Waitrose owner John Lewis and Marks & Spencer say they will not hand back money as the forced closure of department stores hit sales, while Co-op will determine its approach in January and Iceland is yet to comment.

Chancellor urged to boost small stores with returned rates money

With a number of large retailers pledging to hand back business rates relief, smaller retailers have called on Chancellor Rishi Sunak to use the returned money – which currently stands at close to £2bn – to extend support for smaller stores. Andrew Goodacre, chief executive of the British Independent Retailers Association, said: “This money should be used wisely by the Government by using it to extend the existing rates holiday for a further 12 months for the smaller independent retailers.” Craig Beaumont, chief of external affairs at the Federation of Small Businesses, believes the business rates system is in need of a revamp, saying: “We have asked the Government to look at the next wave of bills in April, and into the medium-term, to finally sort this out”.

Home loan demand climbs amid stamp duty holiday

UK Finance data show that home purchase lending recovered strongly in the third quarter, coming close to levels seen in Q3 2019 after the nationwide lockdown earlier in the year paused much of the market. The trade association’s Household Finance Review says that while activity is likely to be strong through the first three months of 2021 as the stamp duty holiday remains in place, demand is likely to come under pressure once the relief measure concludes at the end of March. Eric Leenders, managing director of personal finance at UK Finance, said: “As the stamp duty holiday and current Help To Buy schemes come to a close at the end of quarter one 2021, demand for mortgages is likely to be inflated over the next couple of months – beyond that the outlook is uncertain.”

Berkeley boss: Make stamp duty cut permanent

Rob Perrins, CEO of housebuilder Berkeley Group, has called on Chancellor Rishi Sunak to permanently scrap stamp duty for houses worth under £500,000 and halve the rate for those above that cut off. Mr Perrins said the holiday on the levy rolled out until t he end of March 2021 has “proved what a poor tax stamp duty is”, adding that it “causes a huge drag on the economy, and causes people to live in the wrong home.”

House prices remain stable despite second lock-down

Research from estate agency Knight Frank shows the UK property market largely shrugged off the second UK Covid lock-down with prices remaining stable, in contrast to the dip during the first national lock-down. However, pressure is growing ahead of the end to the stamp duty holiday in March. Tom Bill, head of UK residential research at Knight Frank, said: “Nerves are rising ahead of the end of the furlough scheme. The struggle faced by the conveyancing system to process the high number of deals agreed this year looks likely to continue, and calls to extend and taper the stamp duty holiday will grow louder at the start of 2021.”

Mini property boom set for abrupt end

The property boom triggered by the stamp duty holiday looks to be slowing down with experts saying new mortgage searches dropped by 12.6% in November. This follows the build-up of a backlog of transactions as lenders, conveyancing solicitors and local authorities struggled to process a mass of deals, leaving many homebuyers fearing they will fail to complete before the stamp duty deadline expires. PwC economist Jamie Durham warns that property transactions are likely to drop off sharply after March as the stamp duty holiday and the extended furlough scheme both come to an end.

MoD looks at buying Trident steel maker

The Ministry of Defence is in talks about taking over Sheffield Forgemasters, one of Britain’s oldest steel makers, to protect the supply chain of the nuclear submarine fleet. Sources told Sky News the department Deloitte had been brought in to advise it on negotiations.

Management offer for Peacocks

Administrator FRP Advisory has seen a management buy-out bid submitted for the Peacocks fashion chain. Josh Lowes, a senior e-commerce manager at the retailer, has submitted a bid backed by a private investor after Peacock’s parent firm Edinburgh Woollen Mill Group collapsed into administration. While financial details of the offer have not been disclosed, it is known that the proposal includes intentions to acquire the full company and retain its 4,908 staff and 470 stores.

Nando’s in talks with lenders

An additional £20m bill to make its restaurants Covid secure has pushed Nando’s into crisis talks with Barclays as bosses look to secure potential waivers to the covenants on £300m of loans. Auditor KPMG said: “The group is reliant upon agreeing waivers of covenants in May 2021 with the bank. If this is not successful further financing would be required.” Talks are also continuing with landlords to secure rent holidays and deferrals.

Ann Summers launches CVA

Lingerie and adult toy retailer Ann Summers has announced plans for a CVA, having agreed rent cuts with landlords for two-thirds of stores but failing to reach deals on 25 premises. In return for landlords’ approval of the CVA, the chain’s owners have committed to provide Ann Summers with £10m of additional funding to support its turnaround and future growth.

Ashley makes another move for Debenhams

Mike Ashley is making a last ditch move to rescue Debenhams in a move that could save 12,000 jobs. Ashley’s Frasers Group is in discussions with advisers to Debenhams about a deal which could value the chain at more than £200m.

Lenders ban new business accounts over fraud fears

HSBC, NatWest and Lloyds Banking Group have temporarily halted opening new accounts for small businesses after industry data showed up to 55% of applications were potentially fraudulent. Smaller banks including Virgin Money and Metro Bank have also put a block on new small business accounts. One source told the Mail that just 15% of those applying ended up opening a current account after identity and fraud checks, meaning vast resources were being wasted. Kevin Hollinrake, Tory MP and chairman of the All Party Parliamentary Group on Fair Business Banking, commented: “You have people made redundant who want to open businesses, yet we’re closing the door to them. The banks doing this are excluding our most important sector that drives economic activity.”

Lenders urge savers to move cash to investment products

High street banks including Lloyds, Barclays and NatWest have all started offering their current account customers the option to move cash to investment products. According to the Sunday Times, lenders are seeking ways “to boost their squeezed margins and cash in on beleaguered savers who are seeking a better return than they can get from cash.” The Financial Conduct Authority expects all retail banks to offer an automated advice service soon, noting in a report last week: “Consumers may be more inclined to trust an established brand and the entry of retail banks into the market may attract more first-time investors.”

A strategic rethink can mean ambitions are realised

Stuart Lisle, a senior tax partner at BDO and co-chairman of the firm’s Brexit taskforce, considers how business owners have had to adapt to the pandemic and how some of the strategic thinking managers employed can be applied to other challenges. Writing in the Sunday Times’ Fast Track 100 supplement, Mr Lisle says Britain’s exit from the EU is one example stressing that companies that trade overseas need to act, whatever the outcome. Although the immediate road ahead will be “full of pitfalls,” Lisle concludes, “we are confident that for every obstacle, Fast Track 100 companies will seize opportunities and continue to grow.”

Entrepreneurs warn against raid on CGT

More than 2,200 entrepreneurs have signed an open letter to the Chancellor urging him to scrap plans to align capital gains tax with income tax, warning it would stifle innovation and discourage risk-taking. Rishi Sunak is considering plans to equalise the taxes, which could see many business owners paying CGT at the higher rate of 45%. The letter, organised by Lord (Howard) Leigh, founder of Cavendish Corporate Finance, and Shalini Khemka, chief executive of entrepreneurs’ group E2E, says CGT must remain at an “appropriate level to reflect the risk we have taken and the prosperity we have brought to others in creating a new enterprise”.

OBR chairman supports shake up of fiscal rules

The chairman of the Office for Budget Responsibility has backed a change to UK fiscal rules that would take account of national assets as well as debts in judging the health of the public finances. Providing a “comprehensive understanding” of the national balance sheet would allow ministers more flexibility to rebuild Britain after the pandemic, Richard Hughes said, adding that having all assets and the cost of debt on the balance sheet would inform policy makers on whether they were getting a good return on investments.

Rees-Mogg: Breaking promises on tax will cost Tories election

Eurosceptic Tory MP Jacob Rees-Mogg has cautioned the Chancellor against breaking a promise not to increase taxes, stating doing so will lose the party the next general election. Speaking on his fortnightly podcast on the Conservative Home website, Mr Rees-Mogg said: “No sensible party or government ever breaks manifesto commitments willy nilly: it needs extraordinary circumstances and it also needs public consent.” The Tory manifesto pledged a tax triple-lock to freeze rates of income tax, national insurance and VAT for five years. Asked whether Mr Sunak could keep the promise by raising income tax thresholds instead of the rate itself, Mr Rees-Mogg warned: “It undermines trust in politics. It’s a mistake to think you can follow the letter of a manifesto promise but not the spirit of it.” He continued: “It’s not for me to try and influence what the chancellor’s going to do so it’s best if I talk about these things in general economic terms rather than the specifics. But I think most people would agree that at the point at which an economy is coming out of an extraordinarily deep slump, that is not the time when you want to slap the economy down with higher taxes.”

Interest rates

The Bank of England can probably cut interest rates slightly below zero, and it should be ready to pump more stimulus into the economy quickly if needed to recover from the coronavirus crisis or a Brexit hit, BoE policymaker Michael Saunders said. “In my view, there may be some modest scope to cut Bank Rate further but, if we do, it may be preferable to move in relatively small steps,” Saunders said in a speech on Friday

Brexit talks

With three weeks to a no deal, talks are on a knife edge.  A British official warned that talks over a future trade deal with the European Union could collapse in the next few hours unless negotiators make progress. Europe is asking Britain to make the next move as fishing and competition rules continue to be issues where gaps remain between the parties. An EU diplomat close to the talks said the negotiations are approaching a make-or-break moment. There has been some progress but nothing decisive

Covid-19 general news

The UK is to start vaccinating this week as vaccines were delivered to hospitals.

BioNTech SE said it’s on track to produce 50 million doses of Covid-19 vaccine with partner Pfizer Inc. this year, easing concerns that they might miss production targets.

Rudy Giuliani, President Donald Trump’s personal lawyer, was hospitalised with covid-19

America’s Health and Human Services department said every American who wants a covid-19 vaccine should be able to get one by the second quarter of 2021.

New cases in the uk rose to 17,271 yesterday. Total UK cases now are 1.72. deaths are now at 61,245. m Global covid cases surpassed 67 million, with record infections sweeping across U.S. states and hospitalizations rising by almost 2,000 a day. Global deaths reach 1,537,260.


The FTSE 100 rose almost 1% to above 6550 on Friday.  US indexes rose on Friday with the S&P 500 up 0.88% and the NASDAQ up 0.7% despite disappointing US job data.

The pound is falling on Monday on negative EU negotiation news with the pound currently at 1.095 Euros and 1.326 US Dollars.

Brent is at $48.9 following news that OPEC+ secured an agreement that would allow production to increase by 500k barrels in January 2021 and gold is at $1830

US jobs

United States job hiring slowed sharply last month as the country was hit with a surge in coronavirus cases. Employers added just 245,000 jobs in November, the Labor Department said, below many economists’ expectations. The jobless rate dropped to 6.7% from 6.9% a month earlier, partially because many people stopped looking for work.

Chinese exports explosion

Chinese exports grew by 21% in November compared with the same month last year, the biggest increase since February 2018. It is the sixth consecutive month that the country’s exports have grown, propelling its trade surplus to a massive $75.4bn. China’s factories have been working flat out to supply locked-down Westerners.

Global debt

Globalk debt will reach $200 trillion by the end of this year, predicted S&P Global, which owns a credit-ratings agency. The amount is equivalent to 265% of the world’s GDP. But the firm said that the increase in the global debt-to-GDP ratio was not a crisis, provided interest rates remain low and covid-19 vaccines become widely distributed.

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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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.