A round-up of last year’s official business insolvencies, across all sectors, by Emma Reilly, MD of specialist credit referencing and debt recovery agency, Top Service Ltd: * 50 in every 10,000 active limited companies entered insolvent liquidation in 2022. This was an increase from the 33 per 10,000 active companies that entered liquidation in 2021, […]… Continue Reading
Latest quarterly figures from the Insolvency Service have shown that the number of company insolvencies across all sectors in England & Wales increased by 30%, compared with the previous year. After seasonal adjustment, the number of business insolvencies in Quarter 4 (Q4) 2022 was 7% higher than in Q3 2022 and 30% higher than in […]… Continue Reading
National Insolvency figures published (17 January 2023) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in December 2022 was 1,964: 32% higher than in the same month in the previous year (1,489 in December 2021), and 76% higher than the number registered three years previously (pre-pandemic; 1,119 in December 2019). There were […]… Continue Reading
Small and medium housebuilders struggling to access traditional development finance can take advantage of government funding to get homes built across England. Through the government’s Levelling Up Home Building Fund, Homes England provides development loans to small and medium housebuilders. The Fund supports smaller house builders that struggle to access finance through traditional bank lenders, […]… Continue Reading
Around £12m people in the UK are required to file a Self Assessment with HMRC every year detailing their earnings. The January 31st deadline for Self Assessment returns is approaching fast and those who file late will face fines of at least £100. The January 31st deadline also applies to payments of tax for which […]… Continue Reading
National Insolvency figures published (14 December 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in November 2022 was 2,029: 21% higher than in the same month in the previous year (1,676 in November 2021), and 35% higher than the number registered three years previously (pre-pandemic; 1,505 in November 2019). There were […]… Continue Reading
The complex nature of construction contracts means it is all too easy for construction businesses to pay you later than is agreed or even pay less than you are entitled to. The problem is exacerbated in times of economic unpredictability, when cash retention becomes a greater priority for many businesses. It means recovering debt and […]… Continue Reading
National Insolvency figures published (14 October 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in October 2022 was 1,948: 38% higher than in the same month in the previous year (1,410 in October 2021), and 32% higher than the number registered three years previously (pre-pandemic; 1,477 in October 2019). There were […]… Continue Reading
At Top Service we promote the use of great customer relationships to support our members’ business growth and help to improve cash flow. To improve cash collections it’s important to understand that this part of the business is as important as any other. Provide support or even extra training & credit management tools to the […]… Continue Reading
Trading experiences, available exclusively through Top Service, are instrumental in protecting its membership of UK based construction companies from crippling bad debt. In the following case study we will highlight a particular example where trading experiences saved one of our members hundreds of thousands of pounds. The submissions of information from members led to Top […]… Continue Reading
