Duty to Report on Payment Practices and Performance

Under new Government legislation, companies with a turnover of more than £36 million are now required to release their payment practices bi-annually. This report by Alvarez and Marsal sets out what businesses need to do in order to prepare.

Key points include:

- The reporting requirements and how to submit payment practices and performance reports through the Government's online portal.

- How to handle reporting without an invoice and how to use weighted averages in your calculations.

- How to understand how the new legislation applies to your business and what to do to ensure compliance.

- Tips on how to use technology more in order to improve the efficiency of your reporting.

- How to use the new reporting requirements to create new opportunities for working capital performance down the road.

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