New research shows that HMRC is clamping down on businesses that don’t pay their taxes, as the number of winding up petitions brought to small businesses hits a five year high. Figures compiled by Funding Options show that in 2017,…
Carillion was forced into liquidation last Monday putting thousands of contractors and small businesses in an uncertain position. Industry groups and business analysts are concerned that Carillion’s collapse could send shockwaves through the economy, causing more firms to close. Industry…
Christmas is expensive. As more people are choosing to put festive spending on credit, the average Brit now suffers from a three-and-a-half-month debt hangover in the New Year. Research shows that a typical British adult borrowed £398 to cover the…
Councils in England and Wales called in bailiffs to collect unpaid debts on more than two million occasions last year. Enforcement agents, more commonly known as bailiffs, were most frequently sent to collect council tax arrears, but that they were…
The British Retail Consortium (BRC) say that retailers have “cause for concern” in the run-up to Christmas as sales of non-food items grew at the slowest rate since records began. Non-food sales rose by just 0.2% in the year to…
The Bank of England’s monetary policy committee has voted in favour of increasing their base interest rate from 0.25% to 0.5%. It is the first rate rise in over a decade and is intended to bring living costs under control,…
Evidence released by the Financial Conduct Authority (FCA) shows that half of British adults are at risk of financial hardship, with millions missing bill payments and borrowing money to make ends meet. The warning comes ahead of an expected interest…
The Bank of England has announced that UK lenders will be scaling back the provision of loans after repeated warnings about unsustainable lending on credit cards, car finance deals and other types of unsecured lending. The scaling back of credit…
The International Monetary Fund (IMF) has warned governments around the world about the impact of fuelling growth with debt-driven consumer spending. They say that after initially supporting economic growth, consumer debt begins to weigh down an economy when growth is…
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