The Bank of England is expected to lower the base interest rate from 4.5% to 4.25% at its meeting on 8 May 2025. This move comes in response to slowing inflation and wider economic challenges. While the rate cut may seem small, it could have a real impact on the construction industry—and for the credit […]… Continue Reading
Background Stuart, a director of new Tech Roofing Limited, reached out for support regarding an outstanding debt totaling £120,309.00, with the oldest invoice date being November 2024 and was 79 days overdue, when passed to Top Service. He had been introduced to our services by another satisfied member and was frustrated by the non-payment from […]… Continue Reading
Today, Sheen Lane Developments Ltd has filed a Notice of Appointment of an Administrator. The appointed administrators are Quantuma Advisory Ltd. This information follows the update we provided in January 2025. As you may recall, on 6th January, Sheen Lane Developments Ltd filed an Administration Application. Thanks to our early warning alert issued in October […]… Continue Reading
Overview of Insolvency Trends The latest data on company insolvencies in February 2025 paints a concerning picture for many industries, with construction continuing to bear the brunt of high insolvency numbers. In February 2025, the number of registered company insolvencies in England and Wales was 2,035, reflecting a 3% increase compared to January 2025. However, […]… Continue Reading
We recently celebrated another incredible 20-year anniversary—congratulations and a huge thank you to Shelley Tatlow! Over the past two decades, Shelley has grown with the company, building her industry knowledge by working across all departments. We truly appreciate your dedication and hard work. Watch now and enjoy reflecting on your amazing journey!… Continue Reading
Introduction Relying solely on generic credit reference agencies to assess a company’s financial health can leave you exposed to unexpected risks. In construction, where margins are tight and late payments are common, you need a full picture of a customer’s payment behavior—not just their credit score. While credit reports provide useful insights, they only tell […]… Continue Reading
Introduction In the construction industry, late payments aren’t just an inconvenience—they can throw your cash flow off track, delay projects, and put your business at financial risk. Yet, many firms still operate without a clear credit policy, exposing themselves to bad debts and unreliable payers. A well-structured credit policy is your best defense against late […]… Continue Reading
We are delighted to announce that Top Service Ltd has been awarded the Gold Award under the newly launched Fair Payment Code, introduced by the Small Business Commissioner in January. As a company committed to supporting fair payment practices in the construction sector, we applied for the award on the day of its launch and […]… Continue Reading
The latest data on company insolvencies for January 2025 reveals a continuing trend of high insolvency numbers, despite a slight decrease from the record levels of 2023. The construction industry has been particularly affected, continuing to report the highest number of insolvencies across all sectors. Below is a detailed analysis of the insolvency landscape, with […]… Continue Reading
HMRC interest rates for late payments will be revised following the Bank of England interest rate cut to 4.5%. The Bank of England Monetary Policy Committee announced on 6 February 2025 to reduce the Bank of England base rate to 4.5% from 4.75%. HMRC interest rates are linked to the Bank of England base rate. As […]… Continue Reading
