Late payment legislation laid before Parliament
Following its mention in the King’s Speech, the Small Business Protections Bill has now been put before Parliament.
The Bill introduces measures that are designed to help alleviate some of the difficulties smaller businesses face in getting paid. They include: - A 60-day cap on payment terms for large businesses paying small suppliers. - Mandatory interest on late payments. This is to be set at 8% above the Bank of England base rate. - A prohibition on withholding retention payments in construction contacts. - New powers for the Small Business Commissioner to be able to investigate businesses that have poor payment practices, arbitrate in disputes and fine persistent late payers. - A requirement for the boards or audit committees of large companies to publish explanations of late payment performance and what steps are being taken to improve.
Smaller businesses will be keenly watching the Bill’s progress through its Parliamentary processes to see when these measures will come into force.
A new Freedom of Information (FOI) request has discovered that health and safety violations cost British employers over £44 million per year. The Health and Safety Executive (HSE) revealed that serious breaches have resulted in an increasing number of prosecutions between 2023 and 2025.
The government has published a response to its consultation 'Land Remediation Relief' (LRR). The review sought to understand whether the Corporation Tax relief continues to incentivise the redevelopment of brownfield land and whether reforms are needed to ensure it remains effective, accessible and aligned with modern remediation practices.