Have your say on new consultations on Payment Practices and the effectiveness of the Small Business Commissioner.
ICAEW is responding to these new consultations. If you would like to share your feedback and help shape ICAEW’s response, please get in touch with vicky.williams@icaew.com for a brief summary please read on. The deadline for feedback to ICAEW is Friday 7 April 2023.
As part of its Payment and Cashflow Review, the UK Government has launched a consultation on the Reporting on Payment Practices and Performance Regulations 2017 and Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017 (the Regulations), and well as a statutory review into the effectiveness of the Office of the Small Business Commissioner (OSBC). Both have a deadline for submissions of Friday 28 April.
ICAEW would be keen to hear member views on both of these exercises. The consultation on the Regulations includes specific questions around disclosures relating to the use of retention payments in the construction sector which we would benefit from hearing insights from ICAEW members operating in this sector. On the OBSC review, we would like to hear from members on their awareness of the role and activity of the OBSC, and what the barriers are to a prompter payment culture in the UK.
Please get in touch, we need your feedback: vicky.williams@icaew.com