Amendments to the Payment Practices and Performance Regulations 2017

Closed 28 Apr 2023

Opened 31 Jan 2023

Contact

responsiblepaymentculture@beis.gov.uk

Overview

We're seeking views on proposals to amend and improve the Payment Practices and Performance Regulations, and whether they should extend beyond their current expiry date of 6 April 2024.

The consultation sets out proposals on:

  • amending the expiry date to extend the Regulations beyond 6 April 2024
  • including an additional value reporting metric
  • referencing payment reporting in a company’s director’s report
  • a clarification of how supply chain finance is reported
  • including a new metric on disputed invoices
  • retention payments in the construction sector

Read the consultation document on GOV.UK.

Audiences

  • SMEs (small and medium businesses)
  • Large businesses (over 250 staff)
  • Trade bodies
  • Medium business (50 to 250 staff)
  • Micro business (up to 9 staff)
  • Small business (10 to 49 staff)
  • Construction
  • Thinktanks

Interests

  • Regulation and red tape