Have your say: should the largest firms have to report on late payment and retention?
The government is now consulting on how the largest firms report on their late payment, and whether they should also have to report on retention. Feed in to NFRC’s response.
The government is now consulting on how the largest firms report on their late payment, and whether they should also have to report on retention. The Payment and Cashflow Review asks whether the current Regulations should stand, and whether new requirements should be added for firms to report on the value as well as volume of invoices paid late, as well as whether they should also have to report on how much retention they hold. If you have specific comments on the Review and its questions, please email the Policy Officer.
This would constitute an enormous change for the industry, and as such, NFRC is eager to get involved at the early stages to ensure the compliance work our Members already complete is reflected in any new regime.
Businesses across the entire construction supply chain are operating in extremely difficult conditions at the moment, with many fearing worse is to come.
