Statutory review of the Reporting on Payment Practices and Performance Regulations 2017: call for evidence
Detail of outcome
We will undertake a further consultation on the Regulations to enable ministers to decide whether they should be extended beyond 6 April 2024.
This will provide an opportunity to consult on any other potential amendments to the Regulations resulting from the views expressed by respondents to this call for evidence.
The final Statutory Review is available on the Legislation site.
We received 23 responses to this call for evidence, from a range of businesses and trade representative bodies.
Based on the response we conclude that the Regulations meet expectations in delivering their objectives. They have brought greater transparency and symmetry to the payment practices and performance of large businesses, and they continue to shine a light on businesses that are responsible for poor payment practices.
Original call for evidence
Call for evidence description
The objectives of the reporting on payment practices and performance regulations are firstly to increase transparency and public scrutiny of large businesses’ payment practices and performance, and secondly to give small business suppliers better information so they can make informed decisions about who to trade with, negotiate fairer terms, and challenge late payments.
This call for evidence is seeking views and evidence on the effectiveness of the reporting requirement, in particular to:
- assess the extent to which their objectives are achieved
- assess whether their objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation
Read the BEIS consultation privacy notice.
Documents
Last updated 5 April 2022 + show all updates
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Statutory Review report published.
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First published.