To ask His Majesty's Government what steps they are taking to support small businesses with receiving payments owed to them and to encourage the prompt repayment of invoices.
Answered on
1 July 2025
Late payments are one of the biggest problems facing small businesses and the self-employed.
In September 2024 we announced a package of new measures aimed at tackling late payments and supporting small businesses, these included:
- A new Fair Payment Code, which was launched in February 2025, highlighting businesses that are committed to paying their suppliers on time.
- The introduction of secondary legislation which will require large companies to include their headline payment performance data in their annual reports.
- The launch of a public consultation, later this year, which will test measures that will go even further to tackle late payments.
Answered by
Department for Business and Trade