- Published: Wednesday, 22 November 2017 11:55
- Written by Ian Smith
Companies which impose excessively long payment terms, fail to pay suppliers on time – or combine both of these poor practices – are about to be ‘named and shamed’ by the government in an attempt to change this kind of damaging behaviour.
A new website, set up by the government will require the first set of companies – those with April 30 year ends, and that meet certain criteria – to report by November 30, 2017. This new legislation contains enforcement measures to back up the reporting requirement a failure to report or to report accurately is a criminal offence.