Monthly Archives: July 2011

Call for legislation amid late payments and cash flow problems escalating

More than two years after the introduction of a code of conduct (The Prompt Payment Code) to crack down on late payment in business a new survey shows that the problem is actually getting worse. Now industry experts are calling for legislation and sounding warnings that an escalating culture of late payment is holding back the [...]
Posted in Blog, Industry News |

Communications, transport and construction industries worst hit by late payments

According to research conducted by LloydsTSB, it found that although the national average of firms experiencing late payments was a staggering 63%, almost two in three, that some firms had worrying exposure to the onset of late payments. As per the law of averages, some will have lower levels than the average, and others higher. Those [...]
Posted in Blog, Industry News |

Client win for Corporate Credit Debt Recovery

We are pleased to announce that CCDR have recently secured a £100k client win contract in Spain. The contract was so successful that our client is now providing a second batch of instructions which will likely be to the equivalent value to that of the first part of the contract. This is once again a true [...]
Posted in Company News |

UK economy will remain sub-par over European sovereign debt crisis

According to the latest Ernst & Young ITEM Club report, out the other today, growth in the UK economy will remain sub-par as concerns grow over the European sovereign debt crisis and persistent uncertainty amongst Euro businesses remain. While it has been noted that the current level of world trade has just now surpassed 2008 peaks, [...]
Posted in Blog, Industry News |

Deloitte comments on the Payments Council decision to keep cheques

The Head of Payments Risk at Deloitte Stephen Ley commented on the Payments Council decision to keep cheques and cancel the 2018 deadline by saying; “The Payments Council’s decision to retain cheques will be welcomed by many, but particularly by charities, small businesses, the elderly, schools, and other organisations that rely heavily on this payment method….” He [...]
Posted in Blog, Industry News |

More aggressive debt recovery for HMRC owed nearly £1bn from Time to Pay?

On the revelation that HM Revenue and Customs (HMRC) is owed nearly £1 billion in outstanding debts from its deferral scheme, concerns on both sides of the debt are increasing. HMRC is under pressure from Whitehall to show improvement in its debt recovery and revenue recovery practices, whilst the Time to Pay scheme, largely intended to [...]
Posted in Blog, Industry News |

Government to name and shame big business late payers?

According to some news agencies and business blogs “Large companies that fail to pay their small suppliers on time will be named and shamed online, the government has announced”. On first reading this we wondered if we had somehow stumbled back in time to 2008, whether the Government had put a typo in the press release [...]
Posted in Blog, Industry News |