The U.K. Tackles Its Late Payment Culture

February 20, 2017

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Small Business Depends on Timely Payments

Beginning in April of 2017, the U.K. will require larger companies and limited liability partnerships (LLPs) to report average time-to-pay metrics for their smaller suppliers twice a year. This was mandated by Margot James, the U.K.’s new small business minister, in an effort to discourage the practice by some large companies of habitually paying their smaller suppliers late.

A MarketInvoice study… conducted in 2016 revealed that 60 percent of UK invoic

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