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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.

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

Half of businesses admit to paying suppliers late

Research reveals internal processes and a lack of automation are top causes of late payments to suppliers, above cash flow constraints.

News

UK businesses confess to ‘late payment’ double standards

New research discovers that the majority of UK businesses have double standards in terms of late payments.

Accounting

Late payments trend to get worse for UK SMEs

Survey of 80,000 invoices from UK businesses reveals stark findings for SMEs coping with late payments.

Business management

How to tackle the SME slow payment problem

Here, Fiona Tee, CFO of Currencycloud, explains how SMEs can tackle late payments and cash flow.

Accounting

Calling in your debts and chasing late payments

Whether you’re established or have recently set up a company, cash flow can often be a finely-tuned part of the business, as we discover here.

Legal advice

Pre-action Protocol: What small businesses need to know

Here, Peter Gardner of Spratt Endicott Solicitors discusses Pre-Action Protocol, or PAP, which sets out specific rules that should be followed if you intend to take customers to court for an unpaid debt.

Accounting

UK’s late payments culture impacting four in ten businesses

A new report identifies liabilities associated with late payments culture spanning jobs, innovation and investment for medium-sized businesses.

Accounting

SMEs urged to automate to help offset time of late payments

Clear Books is urging SMEs to automate processes such as credit control, payments and receipts to help save time spent late payments.

News

Can the new small business commissioner tackle late payments?

A new small business commissioner is appointed to tackle late payments, yet just two per cent of micro-businesses believe he will.

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