Late Payment

Articles, news and advice on the widespread issue of late payments for UK small businesses. Topics covered include government regulation, debt collection strategies, setting legal deadlines for payment, imposing penalties for delays, and establishing mechanisms for dispute resolution or renegotiation of payment terms.

Accounting

Report reveals poor payment practices from these big names

A new government report reveals how long it takes some of the UK's major high street names to pay small suppliers.

Alternative finance

Seven tips for getting paid promptly as a small business owner

Getting clients to pay you on time is a crucial part of securing strong and healthy cashflow for your business.

News

New government initiative could stop some companies winning contracts

A new prompt payment initiative may stop late-paying companies from winning government contracts until they shape up.

News

Deadline passes for guaranteed payment before Christmas

It's officially less than 40 days until Christmas, meaning SMEs might not be paid for their work before the big day.

Accounting

How to deal with late payment

Late payments can cause endless problems for small business owners, and it's not just cash flow. We explore the extent of the issue and speak to three entrepreneurs about their experiences.

Accounting

Accounts and tax: A small business guide to managing your finances

In this piece, we share some essential tips on managing your accounts and tax, from tackling tax returns to beating late payment.

News

Late payments World Cup: Which country pays the quickest?

Brazil would be crowned champions if the World Cup was decided by how quickly countries are able to pay suppliers, according to a study.

Accounting

Late payment penalties for companies not adhering to 30 day payment terms

Reader Question: I am having trouble with companies not adhering to the 30-day payment terms. Some are not paying after three months even with constant phone calls. Is there anything I can do to make sure they pay on time? For example, penalties for late payment.

News

Accounting body supports retention deposit schemes for small businesses

The Association of Accounting Technicians (AAT) is the first accounting body to support tenancy-style retention deposit schemes for small businesses.

Business management

Late payments do growing damage to business owners’ mental health

Late payments are becoming a greater source of mental health issues like stress, anxiety and depression. Find out how to respond to the most common excuses for delayed payments.

Accounting

New payment reporting requirements highlight UK’s late payment culture

Here, Ian Smith of Invu takes a closer look at the government’s new reporting requirements, and details the poor payment practices of larger corporations that are putting the UK’s SME community at risk.

News