Payment Performance Reporting Requirements - The BESA
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Payment Performance Reporting Requirements

The Government's proposed draft regulations on a duty for large businesses to report on their payment practices, policies and performance under the Small Business, Enterprise and Employment Act 2015

Published: May 2019
Pages: 3
BESA Product Code: LC 18

The duty to report will be mandatory and will apply to large UK companies and large LLPs which exceed the size thresholds set out in the Companies Act 2006.2 The thresholds for a business to qualify as ‘large’ are set out in section 465(3) of the Companies Act are as follows – In the year in which it is measured:

  • annual turnover more than £36 million
  • balance sheet total more than £18 million
  • more than 250 employees
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