New measures will also enable ‘grossly unfair terms and conditions’ imposed by larger companies to be challenged and their future use prevented, Griffiths said in reply to a question from Wrexham MP Ian Lucas.
He said the changes would come into effect on 8 August at the same time as the late payment legislation becomes available for all businesses and organisations irrespective of size – three months ahead of schedule.
Griffiths said a report from the Credit Management Research centre at Leeds University showed a 7.5% drop in late payments reported by businesses included in the survey.
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