The Department for Business, Energy and Industrial Strategy (BEIS) has launched its final guidance to large businesses to help them prepare for their new obligations in reporting their payment practices. 

From April 2017 large businesses must file a report, twice yearly, on their payment practices. This will include information on the average time they take to pay supplier invoices. 

Businesses that fail to comply with the new rules may face criminal action. 

The BEIS guidance can be found here.

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