DBEIS issues payment reporting guidance

Ahead of measures coming into force in April 2017, the Department for Business Energy and Industrial Strategy (DBEIS) has published guidance on transparency of payment practices.  Regulations laid in parliament last week will require large businesses to report twice annually on the time taken to pay their suppliers in order to expose any poor practices.  Failure to report will be a criminal offence, so the published guidance will help affected firms prepare for the changes ahead.  Government data shows that the UK has 5.5 million small businesses, and they are owed £26.3 billion in overdue payments.

You can access the guidance here >

 

Published on: 08 February 2017 - By: FCSA

I'm an accountant myself but I must say I couldn't have done without the support of First Freelance. – Mugu S.

What I love is that they took the time to meet me in person. I certainly feel I can trust them. – Nadia D.

First Freelance have provided me with excellent support every step of the way. They genuinely care. – Bhargavi P.

The team are knowledgeable and their customer service is outstanding! – Chieme M.

I've worked with many accountants over the years. None have come close to First Freelance. – Daniel J.

They genuinely care about my business and personal finances. – Jennifer W.

First Freelance have provided me with an outstanding level of expertise. I highly recommend them! – Linda P.

I love having 24/7 visibility of my business finances. The 'live' business bank feed is an excellent feature. – Guido M.

What I love is that they took the time to meet me in person and explain everything clearly. – Olufunmilayo A.

REFER A FRIEND0203 962 5085EMAILREQUEST CALLBACKJOIN

Joining First Freelance couldn't be simpler, please provide some basic details and a member of the team will be in touch with you shortly!

Fill out this form to request a callback

You may want to consider:

There are additional factors you may wish to take into consideration. Simply fill in the
form below for a free personalised report tailored to your personal circumstances.

Sign up to our newsletter to receive important tax updates and news that is relevant to you.
We promise to never spam you!