New measures to prevent late payments

The Government has announced a set of new measures to stop late payment to small businesses, following pressure from business groups. Under the proposed rules, audit committees will be required to report payment practices in their company annual reports. Subject to...

Government urged to set date for audit reform

The Government is at risk of "kicking vital audit reforms into the long grass" if it doesn't act soon, the Business, Energy and Industrial Strategy (BEIS) committee has warned. This follows a report published by the BEIS committee on the future of audit, which called...

FSB calls for late payment reforms

The Government's planned reforms to late payment culture should be delivered in the next month, the Federation of Small Businesses (FSB) has urged. The FSB has called for Prime Minister Theresa May to use the final days before her resignation on 7 June 2019 to push...

Pensions Regulator issues £68.6m in fines for employers

The Pensions Regulator (TPR) issued fines worth a total of £68,626,923 to employers that failed to meet their pension obligations in 2018/19. A Freedom of Information Act request revealed that the total value of fines handed out by TPR has increased over each of the...

Construction industry warned about late payment rules

A Government minister has reminded large companies in the construction industry that new prompt payment rules are set to take force this year. From 1 September 2019, new legislation will mean large companies may be prevented from winning government contracts if they...