SMEs that rely on large companies as clients have always suffered from a power imbalance when it comes to paying bills, and the situation seems to be getting worse. It’s been estimated £266bn is being withheld from SMEs through late payment, and there are signs this has been increasing since the Brexit vote. Duty to Report All political parties are promising action, and the Duty to Report measures were introduced in
As a landlord, you have the right to evict tenants from your properties. However, there are many rules and regulations you must follow to ensure you do this lawfully. For example, you can’t just knock on a tenant’s door and demand they leave the premises right there and then. There’s a whole systematic process that needs to be followed before an eviction can legally occur and the easiest way is to
The Ministry of Justice has issued new regulations governing the process for recovering debts. The Pre-action Protocol (PAP) will come into force on 1st October 2017, and it’s vital for anyone involved in debt recovery to be familiar with it by then. What is the Pre-action Protocol? The stated aims of the PAP include to “encourage early engagement and communication between the parties… enable the parties to resolve t
Rogue landlords in London are now going to be named and shamed online. A recent survey showed that 60% of renters in London live in properties with serious issues that landlords have a legal obligation to address. As part of a push to deal with this, the Mayor is launching an online list of residential landlords who have been convicted of illegal practices This shouldn’t worry conscientious landlords. In fact, it cou
The house has put the initiative in the rental market firmly in the hands of landlords, and while many act responsibly, there are enough exceptions to create a problem. A recent survey revealed that 60% of London’s private renters suffer from leaks, inadequate heating or infestations, with little choice but to put up with it. However, London is now set to take a leaf out of New York’s book and start naming and shamin
In last year’s Autumn Statement, the Chancellor announced the Government’s intention to ban letting agents from charging fees to tenants. These charges, for everything from collecting references to administration costs, can add up to as much as £800, in addition to the deposit and rent in advance. This has been welcomed by tenants groups, but both landlords and some conservative MPs have expressed doubt about the pro
If you’re a buy-to-let landlord renting out residential property, you should be aware that the rules for tax relief changed significantly on 6th April, but surveys suggest that very few landlords are. Since the changes will substantially reduce your profit, it’s vital to know what’s happening, and to take what action you can. What Are the Changes? Various types of tax relief have traditionally been available to indiv
On the 6th April, new measures were introduced to penalise residential landlords who aren’t compliant with duties set out by housing legislation, notably the Housing Act 2004. Although no new obligations have been introduced, the consequences of neglecting existing ones have been significantly increased. Local authorities now have the power to impose direct financial penalties on landlords who breach the Act, rather
We’ve all read it over the past few months, banks, phone companies, and goodness how many other institutions have been hacked. Daily scams are becoming the norm; and every day seems to add to the problems small businesses are facing, myself included. I have written before about protecting your business with contingency planning and I make no apologies for repeating my concern. Remember to check this on a regular basi
Over twenty years experience in Debt Collection and Credit Control at your service. The worst thing you can do about collecting slow and overdue accounts is: "NOTHING"