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Briefings

Member Breifing: Guidance to help large businesses report on how quickly they pay their suppliers

Date: 31/01/17

Guidance to help large businesses report on how quickly they pay their suppliers

The Government has today issued guidance for “large” businesses with regards to their obligations to publish details about how quickly they pay their suppliers. Please click here, to access the report.  

Businesses are required to abide by the new requirements in a given financial year if, on their last two balance sheet dates, they exceeded two or more of the thresholds for qualifying as a medium-sized company under the Companies Act 2006 (section 465 (3)).

These thresholds are:  

  • £36 million annual turnover
  • £18 million balance sheet total
  • 250 employeee

 

Michael Powell

Finance Director