Government to consult on late payment rules | AccountingWEB

Government to consult on late payment rules

Companies that pay their suppliers late may be fined, the government has said.

Earlier in October, sister website BusinessZone reported that Prime Minister David Cameron said that he will consult on late payment rules later this year.

The consultation will consider late-payment issues including:

  • What can be done to increase transparency around which companies are...


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Mouse007's picture

HOPE THEY    9 thanks

Mouse007 | | Permalink

Include HMRC in that review



mr. mischief's picture

Love the new HMRC logo!

mr. mischief | | Permalink

It says it all.

Locutus's picture

Thanks Mouse

Locutus | | Permalink

That's the funniest thing I've seen all week.

Thanks mouse as well

daveriches | | Permalink

made me LOL

Late Payment

jonray | | Permalink

I have a Customer who habitually pays late or not at all.  Like most SME,s  I have to put up with it because  Customers  are harder to find,  despite the slight upturn it will be along time before we can insist on 30 days and charge interest from that day. They know this and we Bank roll their business for up to 3 months.   Fining late payers as well as charging them Interest would probably help.  We have to pay our Suppliers on time and end up Overdrawn as a result.