Payment practices and performance reporting

Companies must report their payment practices, policies, and performances to the government. The report includes the average time to pay the vendors, including those that are paid late.

United Kingdom specifics

Large companies and LLPs are required to report bi-annually on their payment practices, policies, and performance for financial years. The information must be published through an online service that is provided by the government. The report is available to the public as an incentive for large companies to pay vendors on time.