The Wait Watchers Show Episode 7 - Payment Reporting Enforcement - & Your Legal Responsibilities

If you work in finance or procurement in a large company in the UK, or if you are a Director (executive or non-executive) then you you will hopefully be aware that reporting your company payment performance to suppliers is a statutory duty. Reports must be submitted to the Department for Business and Trade every six months. However, thousands of large companies do not report at all - that amounts to more than a third of companies that should be reporting by law. If they don't, then the company AND its Directors are liable to legal action. Many Directors and staff will not be aware of this - and in the past six months, the Department for Business and Trade has stepped up its Enforcement Programme to tackle companies that are not compliant. This episode of The Wait Watchers Show, presented by Terry Corby, Founder of Good Business Pays, explains the UK Government's Enforcement Programme to ensure people are aware of the very active programme the Department for Business and Trade is currently driving and what it could mean for businesses and their Directors if they do not comply with this statutory duty.For more information, including company payment data, resources and campaign information, visit goodbusinesspays.com