The Work place is a safe place – business news 28 August 2020.

James Salmon, Operations Director.

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.

The Work Place is a Safe Place

Boris Johnson will launch a campaign next week designed to persuade people to get back to the office amid fears working from home leaves workers vulnerable to being sacked. The messaging will promote the mental health benefits of working with colleagues, provide reassurance that “the workplace is a safe place”, and warn that bosses will find it easier to fire people they never see than colleagues who have been at their desks during the pandemic. The move comes as the Chancellor worries about the knock-on effect of office workers staying out of towns, with sandwich shops, gyms and pubs all threatened by the lack of footfall. Frances O’Grady, general secretary of the TUC, said the Prime Minister must do more to give people confidence it is safe to return: “We need to have a fast and reliable test and trace system and we need better enforcement of transport safety and workplace risk assessments.”

Optimism rises ahead of expected jobs cull

British business confidence in the UK has improved, according to Lloyds Bank’s business barometer, which is up eight points to -14, the biggest monthly increase in three years. Hann-Ju Ho, a Lloyds Bank economist, said: “it is encouraging to see gradual improvements in trading prospects and economic optimism, albeit from a low base.” However, with unemployment expected to rise as the furlough scheme comes to an end, analysts say the bounce-back could prove short-lived. According to Lloyds, only 18% of businesses with staff still on furlough expected to be able to retain all of them.

Regulating advisers will reduce R&D tax relief abuse

Scott Henderson, CEO of ABGI-UK, calls in Accountancy Daily for standards to be raised in the advice market to reduce the volume of R&D tax relief fraud. HMRC has identified and prevented over £300m fraudulent claim attempts through the SME R&D tax relief scheme alone and is conducting a consultation on preventing the abuse of this relief.

Covid-19 general news

Prime Minister Boris Johnson will lead a major drive to persuade Britons to return to their workplaces once schools in England reopen next week

French PM Jean Castex said France is experiencing “an undeniable surge” in Covid-19 and mask wearing will soon become compulsory everywhere in Paris. The news comes as the global case load exceeded 24.4m with more than 831,000 deaths.

In Asia, South Korea will impose stronger social distancing regulations in greater Seoul areas as daily virus cases stay near the highest level since March.

In the U.S., Abbott Laboratories shares jumped after the firm’s 15-minute test that will be priced at just $5 was granted emergency authorization. THe US government buys almost all the tests made this year.

India reported more than 77,000 new infections, its highest number of cases for a second straight day.

Peru passes Belgium as world’s deadliest Covid hotspot


The FTSE 100 fell 0.75% yesterday  with similar falls in Europe. In the US the S&P climbed 0.17% while the NASDAQ fell 0.34%

US Q2 GDP fell at the fastest rate since records began, declining 31.7% in an annualised basis,  only marginally better than forecasts.

Oil prices fell yesterday despite the damage from Hurricane Laura reaching landfall. Gold prices also fell  by $33 per ounce after Fed chairman Jerome Powell at the Jackson Hole symposium said that he was targeting full and inclusive labour market conditions and America’s Federal Reserve would shift policy in order to restore jobs and help the broader coronavirus-ravaged economy. The Fed’s chairman, Jerome Powell, announced that the central bank is adopting a policy of “average inflation-targeting”, allowing inflation to run at more than 2% for a while if that is necessary to keep the economy buoyant. The shift confirms that the Fed is likely to keep interest rates low for some time.

The pound climbed to 1.3281 US dollars and 1.1151 Euros.


Japan PM Shinzo Abe is stepping down due to a worsening colitis, a few days after becoming Japan’s longest serving PM.

Rolls Royce

Engine Maker, Rolls Royce has warned of ‘material uncertainties that cast doubt about the group’s ability to remain a going concern’. Rolls is targeting £2bn in proceeds from disposal of business assets to ease the pressure on its balance sheet. It recorded a record  pre-tax loss of £5.4bn  in the first half of this year off revenue of 5.8bn which was down 26%. The collapse in air travel during the pandemic has hit the firm badly, as it makes most of its money from servicing engines in use.

Rolls-Royce also said finance boss Stephen Daintith had resigned to move to retail technology firm Ocado. Julie Palmer, a partner at Begbies Traynor, commented: “With its reputation currently diminishing, shareholders starting to bail out and the full force of Covid headwinds yet to come, [CEO Warren East] still has a lot of work to do to make sure Rolls-Royce can ride out the storm.”


Today Elon Musk, an entrepreneur and boss of Tesla, an electric-car maker, will unveil the fruits of his efforts to develop implantable brain-machine interfaces. A working device has been produced by Neuralink, his firm based in San Francisco.

CIOT agrees all advisers should be professionally qualified

The Chartered Institute of Taxation (CIOT) has welcomed a proposal from the Government to require anyone who wants to provide tax advice on a commercial basis to belong to a recognised professional body. The Institute said an alternative proposal for a new government regulator of tax advisers would be costly and ineffective. John Cullinane, CIOT Tax Policy Director, suggested a transition period before changing the law to prevent disruption, but added: “HMRC acknowledge that most behavioural problems they encounter by tax advisers are not by members of professional bodies. We call on HMRC to publish far more of its data on tax advisers because we know very little about the population of advisers outside professional bodies. We understand from HMRC that they represent 30% of tax agents but are responsible for most behavioural issues they encounter.”

Buy-to-let purchase activity bounces back

Mortgage brokers have reported a surge in buy-to-let mortgage activity as property investors look to take advantage of the current stamp duty break. A survey carried out by mortgage adviser forum Cherry found an increase in demand from both individuals and those buying via a limited company. More than 30% of brokers reported an increase in individual purchases and almost 27% said they had arranged more deals for limited companies acquiring buy-to-let properties. According to the study, purchase activity is leading the way in terms of buy-to-let enquiries, with 57% of brokers seeing an increase in acquisitions, compared to less than 12% who reported more demand for capital raising on a remortgage.

Lockdown will not exempt foreign citizens from paying tax, says Spain

Spanish authorities have said that extended stays in the country due to coronavirus lockdowns would not excuse foreign citizens from having to pay tax in Spain. The finance ministry ruled that no exceptions would be made to the rule under which spending 183 days of a year in the country automatically makes foreigners tax residents. The statement came in response to a query by a Lebanese family who had spent longer than expected in Spain.

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

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