This week (19 January) the government has announced ‘an overhaul of the Prompt Payment Code (PPC) to crack down on delayed invoices owed to small businesses. Under new reforms, companies that have signed up to the Prompt Payment Code will be obliged to pay small businesses within 30 days – half the time outlined in […]… Continue Reading
Government announce three-month extension to issuing statutory demands and winding up petitions This week (9 December) the Government has announced that the temporary restrictions placed on issuing statutory demands and winding up petitions has been extended to 31st March 20211 in order to relieve pressure being placed on businesses dealing with coronavirus. To help protect […]… Continue Reading
Companies House has called for company directors and accountants to file their annual accounts promptly to enable more time for the processing of accounts filed on paper for the 2019/20 financial year. In a press statement issued by Companies House (19 Nov 2020) companies throughout the UK are being urged ‘not to leave filing […]… Continue Reading
The construction industry is always vulnerable in times of economic crisis and features high in the table of statistics for insolvency. However, new statistics on company and individual insolvencies in England and Wales for September have been released (14 Oct 2020) and the overall number of insolvencies is reported to be low in September 2020 […]… Continue Reading
During these challenging times we urge our members and the wider construction industry to protect their businesses by actively monitoring trading experiences and acting upon early warning signs. Don’t wait for the information to come to you, use an industry specific service that can spot changes in payment patterns resulting in regular, more in-depth and up […]… Continue Reading
We aim to keep our members and the wider construction industry abreast with news and updates affecting our sector during these difficult times. On 31st March 2020 the Rt Hon Alok Sharma MP wrote a letter of thanks to the construction industry for the national support effort the industry is providing. “Whether by building temporary […]… Continue Reading
Each year, construction businesses write-off thousands of pounds because of bad debt caused by late and non-payment. So, how do you mitigate the risks associated with bad debt and are you claiming everything you are entitled to? Emma Miller, Company Director for Top Service has the following advice; “As cases of coronavirus (COVID-19) increase throughout […]… Continue Reading
Please be assured that we are currently working as normal. Please click below to see our full policy relating to the Covid-19 outbreak. Coronavirus policy.… Continue Reading
For top tips and expert advice in credit management and debt recovery only for the construction industry.… Continue Reading
As a business operating in the construction industry, it’s important that you get paid on time and what you’re owed in full by your customers and suppliers. Late payments, and payment disputes, can be costly to your business and have long-lasting repercussions. The construction industry relies heavily on supply chain and excellent customer relations, having […]… Continue Reading
