BusinessCompany NewsPolice arresting payment to suppliers for two months

Police arresting payment to suppliers for two months

Invoices are being settled late despite repeated government directives urging public bodies to implement prompt payment policies, says Forum of Private Business

Suppliers to some police forces in the UK are waiting more than two months
for payment as small businesses continue to face the threat of insolvency, the
Forum of Private Business has found.

Invoices are being settled late despite repeated government directives urging
public bodies to implement prompt payment policies.

There are companies doing business with the police in some parts of the UK
whose invoices are paid within days, but the FPB was concerned about the “huge
gulf” between the best and worst performers.

Some forces managed to pay more than three quarters of invoices within 10
days and almost 100% of invoices within 30 days, the FPB said.

However, others paid less than 1% of their bills within 10 days and took more
than 30 days to pay well over half their invoices.

Further reading:

FPB
: SMEs should benefit from VAT relief scheme

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor