RfM Accountants + more

accounting xero audit payroll tax planning vat calculations returns legal services business consulting business growth business transformation business funding hr Services research and development mortgage services managing cashflow company secretarial services new business startup buying a business selling a business capital allowances business management services financial services tax investigation service fee protection insurance

client area contact us
  • home
  • offices
  • about us
  • services
  • business sectors
  • news
  • resources

more in the know

Here we keep you up to date on all things RfM and the latest from the world of business and accountancy.

 
Home News Late-payer cashflow problems – a new service

Late-payer cashflow problems – a new service

20% of small businesses regularly experience cashflow problems because their bills are paid late – a situation the government described as the ‘scourge of late payment’ in this year’s Spring Statement. There is a government consultation in the pipeline and in December 2017 a new service was launched to help.

cashflow problems late payment invoiceThe role of the office of the Small Business Commissioner (SBC) is to encourage a culture of fair payment practices by:

  • supporting Britain’s 5.7 million small businesses to resolve payment disputes
  • tackling larger businesses’ unfair payment practices to drive culture change
  • providing information via its new website to help small businesses with late payment issues
  • receiving late payment complaints from small businesses.

There are certain criteria that must be met in order to access complaint-handling support from SBC which are detailed here. If the SBC is able to help you with your complaint, it will aim to make its recommendation within six weeks. An SBC decision is not legally binding, so court action and other options will still be open to you, should you require them.

If you are experiencing cashflow problems, you can find helpful general advice on the ‘managing cashflow’ page of our website. You can also ask us for advice on accessing funding, finance and grants. Contact one of our offices or enquire online.

 

For information of users: This material is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.

Share this article:

Archives

latest news

  • Using a Will Trust to protect your estate from care home fees
  • No looking back for fledgling business Heritage Rail
  • Remortgaging: Get off the interest rate rollercoaster with our ‘Mortgage Watch’ scheme
  • Fun on the green with our wellbeing team
  • Covid support scheme payments still on HMRC’s radar
  • New employee checks: iPhone users can store NI number in Apple Wallet
  • What’s happening with R&D tax credits?
  • HMRC detective work leads to eBay trader tax bill
  • Voluntary National Insurance contributions – plugging the gaps in your NI record
  • Don’t get caught out by the Child Benefit charge

Recent Posts

  • Using a Will Trust to protect your estate from care home fees
  • No looking back for fledgling business Heritage Rail
  • Remortgaging: Get off the interest rate rollercoaster with our ‘Mortgage Watch’ scheme
  • Fun on the green with our wellbeing team
  • Covid support scheme payments still on HMRC’s radar

our services

Find out why we're so much more than just accountants.

RfM people

Our people are what makes us stand out from the crowd. Meet them here.

what clients say

We take pride in our 'client-focused' approach. Here's what they think about it.

Get in touch   Find an office
Facebook Twitter LinkedIn
  • Legal
  • Accessibility
  • Privacy Statement
  • Regulation