Late payment is crippling small businesses while the UK economy is crying out for investment. By failing to tackle late payment we are starving our small businesses of the capacity to act. The recent huge escalation in outstanding payments shows that decades of promoting ‘culture change’ has only made things worse. This bill will tackle the issue once and for all with a package of measures that is operable, impactful and measurable.
At Daniels Silverman we have compiled a list of the steps you should be taking to ensure that you are paid what you owed. Do your research: if a larger company has sub-contracted work to you and it is worth a lot of money, research the company. Are they known to be unreliable payers? Ask […]
If your customer meets the criteria and they have failed to pay your invoices as and when they fell due, you can serve a statutory demand to ask for payment of a debt from either the individual or company.
Why turn to a professional debt collection agency? You may think that there aren’t compelling enough reasons to partner with a collection agency, after all you have in-house staff who can try and chase unpaid invoices, why use a professional? However, if you have overdue invoices and are struggling what your next move should be, […]
Debt collectors or debt collection agencies are usually hired by creditors to recover money they are owed for goods or services. The majority of collectors and agencies are legitimate, ethical and honest and work within a strict set of guidelines and codes of conduct. However, the problem of bogus or scam debt collectors is becoming […]
It’s a new month and for a lot of companies and that means time should be spent chasing unpaid invoices that were due at the end of last month. However, this is not always the case. Other things get in the way, new work comes in, meetings are arranged, other admin takes priority and suddenly […]
The UK’s haulage industry is facing some major concerns at the moment with many fearful that the situation may worsen post Brexit. The productivity and competitiveness of the UK economy is dependent upon having an efficient road haulage sector and road infrastructure that works for all users. Everything we eat, drink and wear depends on […]
Tough new rules, first introduced by the Cabinet Office in November 2018, have come into force this month. The new rules mean that all government suppliers must pay 95% of their invoices within 60 days or run the risk of being excluded from the opportunity to bid for lucrative, taxpayer-funded government contracts. Federation of Small […]
New Anti Fraud measures There was a 19% rise in the amount of money lost to fraud on UK payment cards last year compared to 2017. The amount lost is estimated to be around an eye-watering £671 million. In order to try and combat this rise, banks and shops are starting to gradually roll out […]