The Department for Business and Trade is implementing a Late Payment Common Framework to tackle poor payment practices and late payments between businesses, particularly affecting small and medium enterprises. The framework follows government consultation and aims to improve cash flow and business viability through stronger payment discipline. Current status includes government response to consultation and framework implementation.
In response to: Late payments: tackling poor payment practices
In response to: Late payments: tackling poor payment practices
In response to: Late payments: tackling poor payment practices
UIN: HCWS1436 This government believes that business is the driver of growth and wealth everywhere across Britain. A thriving private sector is the single most powerful engine for improving livelihoods and places. The UK has some of the best, most …
UIN: HLWS1445 My hon Friend the Minister for Small Business and Economic Transformation (Blair McDougall MP) has today made the following statement.This government believes that business is the driver of growth and wealth everywhere across Britain. A thriving private s...
We are seeking views on legislative measures which address late, long and disputed business-to-business payments, and the use of retention clauses in construction contracts.
In response to: Late payment: common framework
Non-legislative framework to ensure the UK government and devolved governments work together on late payment (commercial transactions) policy.
The Government is right to recognise the risks to SMEs posed by late payments. Until there is new legislation, the Fair Payments Code should become the minimum expectation, rather than an optional extra, for all firms over 250 employees. (Conclusion, …
The Government should accelerate its late payments legislation and mandate 30-day payment terms by the end of this Parliament. In the meantime, procurement rules should be updated to require all large suppliers to have a Fair Payments Code Gold award. …
Late payments pose a particularly acute threat to firms in the construction sector. The Government’s construction playbook sets out that Project Bank Accounts should “be used unless there are compelling reasons not to.” This loophole had permitted government departments to …
We are seeking views on legislative measures which address late, long and disputed business-to-business payments, and the use of retention clauses in construction contracts.
We are seeking views on legislative measures which address late, long and disputed business-to-business payments, and the use of retention clauses in construction contracts.
UIN: HCWS106 Late payments and long payment terms continue to be a significant issue for small businesses and the self- employed across the UK. In 2022, small businesses were owed on average an estimated £22,000 in late payments from the …
UIN: HLWS104 My Rt Hon Friend the Secretary of State for Business and Trade (Jonathan Reynolds MP) has today made the following statement.Late payments and long payment terms continue to be a significant issue for small businesses and the self- …
How the UK government and devolved governments propose to work together on late payment (commercial transactions) policy.
A consultation on the practice of cash retention under construction contracts
We're seeking your views on our proposals to change the regulations to challenge 'grossly unfair' contract terms and practices.
A consultation on the practice of cash retention under construction contracts
A consultation on the practice of cash retention under construction contracts
We're seeking your views on our proposals to change the regulations to challenge 'grossly unfair' contract terms and practices.
We're seeking your views on our proposals to change the regulations to challenge 'grossly unfair' contract terms and practices.
We're asking for views on giving bodies power to challenge grossly unfair contractual terms and practices, and on defining 'grossly unfair'.
We're asking for views on giving bodies power to challenge grossly unfair contractual terms and practices, and on defining 'grossly unfair'.
We're asking for views on giving bodies power to challenge grossly unfair contractual terms and practices, and on defining 'grossly unfair'.