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Late payment is a key issue for business, especially smaller businesses. It can adversely affect their cash flow and jeopardise their ability to trade.
UK’s largest companies must report on payment practices, policies and performance for financial years beginning on or after 6 April 2017.
This guidance is for companies and LLPs who must comply with the statutory reporting duty for payment practices and performance. The information must be published through an online service provided by the Government and will be available to the public.
