Tuesday 14th November, 2017
The Government has published the first payment reports following the new reporting rules that came into force on 6th April 2017.
The reporting rules mean that large companies and limited liability partnerships (LLPs) will have to publicly report twice a year on their payment practices and performance, including the average time taken to pay supplier invoices.
A large business is a company or limited liability partnership that has at least two of the following:
• £36 million turnover
• £18 million balance sheet total
• 250 employees