Start the new tax year with better debt recovery processes

The new tax year is a good time to sort out your business finances. When late payments add up, it can have a catastrophic effect on your cash flow.

Have a process in place

Having a formal debt recovery process and responsible team members can greatly improve your profitability.

Take action right away

Act promptly when payments are late. Failure to act can let debts mount up.

Sending letters

A physical letter lets clients know you are serious. It should be firm but fair.

Partner with debt recovery solicitors

Letters from a solicitor often prompt payment. If needed, a solicitor can take court action on your behalf.

If you would like some further information, contact us today on 01502 532300.

This is not legal advice; it is intended to provide information of general interest about current legal issues.