Companies Must Now Set Out Their Payment Practices in Annual Reports
Since his Spring Statement when the possibility for fines on late payers was announced, Chancellor, Philip Hammond has had AP departments scrambling to get their acts together and put measures in place to get significantly more organised with regards to payment processing. If your business has not yet begun looking at ways to reduce the length of the payment timeline, this article may be a push in the right direction.
Basically, small businesses have been receiving the brunt of late payment practices and measures have now been put in place to tackle the epidemic. Almost unbelievable, but true, these late