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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.

Accounting

Coping with late payments as a small business

If your customers have payment terms you need to manage cash flow carefully, and a late payment can throw things off. Here are a few ways you can cope.

Accounting

UK micro-businesses not optimistic about late payment tsar

New research shows just 2 per cent of UK freelancers and micro-businesses think the forthcoming Small Business Commissioner will be able to do anything about the issue of late payments.

News

Late payment reporting guidance launched for large businesses

Guidance published ahead of measures coming into force in April 2017 to boost transparency of payment practices.

Accounting

Taking on the late payment culprits: Will 2017 finally be our year?

Ian Watkinson looks at whether 2017 could be the year we finally take a tougher stance on late payment culprits.

News

Six in ten SME invoices unpaid within debtor period

An increasing amount of SMEs are suffering from delayed invoice payments as a study reveals one in six small firms are forced into the ‘90 day club’.

Business management

Businesses warned to avoid delaying payments this Christmas

Businesses must plan in advance to avoid missing or delaying payments to staff and suppliers over the festive period.

News

Small suppliers waiting months for payment from big businesses

Small business suppliers are suffering as the UK's biggest retailers fail to pay up on time, a new study reveals.

Accounting

Why late payment hits the construction sector hardest

Businesses in the construction sector have been hit hardest of any UK sector by longer waits for their invoices to be paid, with delays increasing 22 per cent in the last year from 67 days to 82 days.

News

Small businesses forced to write off debt due to late payment

More than a quarter of small and medium sized enterprises (SMEs) in the UK suffer from bad debt to the extent that they have had to write off money in the past year.

News

Small business owners preoccupied with chasing payments

UK small business owners spend 10 per cent of their working day chasing payments, with an average having to wait an extra 14 days before invoices are settled.

News

Businesses fall foul of forgotten, as well as late, payments

Nearly half of all debts owed to businesses are as a result of forgotten or late payments, rather than more expected reasons such as customers not having the means to pay, research finds.

News

Late payment terms remain miserable for small businesses

More than one in ten small businesses are being forced to wait over 90 days to get paid by their suppliers, research finds.

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