The Small Business, Enterprise and Employment Act 2015 introduced a duty on the UK’s largest companies to report on a half yearly basis on their payment practices, policies and performance. The legislation requires all businesses that meet the criteria to report on:
The average time taken to pay invoices
The percentage of invoices paid within 30 days, within 31-60 days and in 61 days or more
The percentage of invoices due but not paid within agreed terms
