Large businesses penalised for late payments

Several large companies have been suspended from the prompt payment code for failing to pay suppliers on time, the Chartered Institute of Credit management has announced. The prompt payment code sets out a standard for payment practices, requiring businesses that sign...

3 in 4 firms support auto-enrolment extension

Most businesses would support auto-enrolment being made available to lower earners and the self-employed, research from the Confederation of British Industry (CBI) and Scottish Widows shows. In a survey of 240 businesses, nearly three-quarters (74%) said they want to...

New measures to prevent late payments

The Government has announced a set of new measures to stop late payment to small businesses, following pressure from business groups. Under the proposed rules, audit committees will be required to report payment practices in their company annual reports. Subject to...

Government urged to set date for audit reform

The Government is at risk of "kicking vital audit reforms into the long grass" if it doesn't act soon, the Business, Energy and Industrial Strategy (BEIS) committee has warned. This follows a report published by the BEIS committee on the future of audit, which called...

FSB calls for late payment reforms

The Government's planned reforms to late payment culture should be delivered in the next month, the Federation of Small Businesses (FSB) has urged. The FSB has called for Prime Minister Theresa May to use the final days before her resignation on 7 June 2019 to push...