Crackdowns on Late Payments

Our take

The government's new Small Business Protection Bill aims to tackle one of the biggest challenges SMEs face: late payments. Proposed measures include a 60-day payment cap for large firms and mandatory interest on late payments. For small business owners, changes to payment practices means improved cash flow, spending less time chasing invoices and further confidence when planning and budgeting for growth. It's worth reading this article to stay up to date with the latest changes that could affect you.

https://www.gov.uk/government/news/largest-crackdown-on-late-payments-in-over-25-years-as-landmark-bill-enters-parliament

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