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New measures proposed to tackle late payments

The Government has proposed new measures to address the problem of late payments to small businesses.

Several proposals were published as part of a consultation on the issue, as the Government seeks views on how to improve payment culture and prevent unfair practices by larger customers.

These include ways to address the issue at board level, such as ensuring companies give a non-executive director responsibility for their prompt payment performance throughout their supply chain.

Other proposals include using technology, such as the latest accounting software, to help small firms manage their payment processes more efficiently.

Nearly a quarter (24%) of businesses in the UK say late payments are a threat to their survival, and 33% of SME employers see them as a major obstacle to business success.

Small Business Minister Kelly Tolhurst said the call for evidence will help find a way to "tackle this issue once and for all", and ensure a "level playing field" between smaller and larger businesses.

Get in touch to discuss your business.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email newbusiness@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.