Carly Davies

The newly appointed Small Business Commissioner is to spearhead a national effort to crack down on late payment of invoices – which cause thousands of small businesses to close every year. Carly Davies Debt Recovery Manager provides an update. Former journalist Liz Barclay will be the first woman to hold the position, which was created in 2016 to help small businesses secure the payments owed to them and to galvanise UK…

The government is strengthening the Prompt Payment Code to ensure large companies pay small businesses on time. Carly Davies Debt Recovery Manager reports. Companies that have signed up to the code will be obliged to pay invoices within 30 days – half the time outlined under the current agreement. Despite almost 3,000 companies signing the code, poor payment practices are still rife, with many payments delayed well beyond the current 60-day…

The government is considering new powers to give businesses more protection against late payments of invoices. Carly Davies Debt Recovery Manager provides an update. Figures provided by Pay UK show that £23.4 billion worth of late invoices are owed to small firms across Britain, impacting on their cash flow and ultimate survival. Small Business Minister Paul Scully has announced a new set of proposals to ensure these firms are paid…

The Treasury is introducing new rules on how businesses should construct letters sent to people in debt. Carly Davies Debt Recovery Manager provides an update. The emphasis will be on helping customers to better understand and manage their debts, reducing distress and supporting mental health Default Notices are designed to give people who are falling behind on their debts fair warning before lenders take further action, but much of the…

Businesses that have offered payment holidays to customers may be damaging their own chances of survival, according to the Chartered Institute of Credit Management (CICM). By Carly Davies Debt Recovery Manager. A survey by CICM of its members suggests that of the 83% of firms who had offered a payment holiday, two thirds (66%) said there would be a negative impact on revenues and profits. Of those, a quarter (25%)…

Company directors should be held responsible for late payment of invoices, according to a survey of supply chain managers. The research, carried out by the Chartered Institute of Procurement & Supply, found that seven out of 10 respondents believed there should be independent oversight and stronger penalties to prevent businesses abusing their suppliers. The survey also found that British businesses are being weighed down by a chronic culture of long…

Businesses across different sectors are urging the new government to end late payment practices that are crippling many small companies. They say the existing Prompt Payment Code isn’t working and fear a surge in company insolvencies if no action is taken. David Frise, CEO of the Building Engineering Services Association (BESA), said repeated failures by previous governments to deal with late payment culture meant company failures were almost inevitable. He…

A vehicle leasing company has won its claim to recover more than £560,000 in unpaid invoices following a dispute with a customer. The case involved Venson Automotive Solutions Ltd v Morrisons Facilities Services Ltd. The two companies had entered into a contract in which Venson leased a fleet of 1,014 vehicles to Morrisons. The hire agreement contained a clause stipulating that if Morrisons disputed any of the invoices, it needed…

Vegetarianism is a “lifestyle choice” and not a philosophical belief capable of protection under equality legislation, the Employment Tribunal has ruled. The landmark judgment came in a case involving a waiter at the Fritton Arms hotel on Lord Somerleyton’s estate in Suffolk, George Conisbee worked for the hotel from April 2018 until his resignation in August the same year. He claimed he had been a victim of discrimination, arguing that…

New rules that mean large companies could lose lucrative government business if they don’t pay their suppliers on time have now come into force. The rules, effective from 1 September, mean companies must pay 95% of their invoices within 60 days or run the risk of losing out on major government contracts. This will be particularly beneficial for small businesses, which are an important part of the supply chain. The…