The government is to look at longstanding issue of big companies failing to pay invoices promptly.
According to a report in the FT on 3 December 2022 Kevin Hollinrake, minister for small business, said: ‘[I] know what it’s like to lay awake at night worrying about when you’re going to pay the bills. It’s not easy. And I want to make it easier’.
He told the Financial Times it was essential to help small companies secure prompt payments after they have provided goods or services to large businesses. He also said the government would look at a contentious recent decision by ministers to cut back the research and development tax credits available to small businesses. The tax breaks are widely used by start-ups and small- and medium sized
Readers of this blog will know this story isn’t new. We will have to see whether it gathers any momentum or melts away as usual…