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17 Apr 2023

Have your say—government review of payment practices and retentions

The government is currently consulting on whether large firms should have to report additional information about their payment practices and use of retentions. Feed in to NFRC’s response.

The UK government have launched a review into payment practices and the impact of late payment on small businesses, named the 'Payment and Cash Flow Review'. There will be a consultation on the issue in 2023. To give your view on how late payments affect your business, please email the Policy Officer. This consultation will also assess the need for larger firms to report on the retention they hold. NFRC Trade Members are currently being consulted with regarding their experiences with retention and its impact on their business.

If you would also like to give your view on retention, and/or be involved in our policy work on this issue, please get in touch.

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