The study by the Federation of Small Businesses found that, on average, it took UK plcs 46 days to pay its suppliers. This timeframe has not shortened in the last four years and is causing serious cashflow problems for small enterprises, with some forced into liquidation.
The report found that 17 companies currently take over 200 days to pay bills while nearly a quarter cannot settle within a 60 day timeframe. Of the FTSE100, high-street fashion retailer Next came out as the quickest payer, providing cash just two days after delivery. By comparison, Cable & Wireless took 70 days.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements