Contractors Spend 20 Days a Year Chasing Late Payments
According to IPSE, the Association of Independent Professionals and Self Employed, if you work for yourself then you spend 20 days a year trying to get paid.
late payments
£8.1 Billion Lost in Late Payments Every Year
It’s official…the self employed (including umbrella contractors) are losing out on an estimated £8.1 billion in late payments from customers each year.
Large corporations still appear reluctant to settle debts
London and the South East of England top the late payments league, according to the latest study from Bacs.
HMRC urged to go easy on late paying SMEs
According to a new report published by Begbies Traynor, nearly 200,000 small businesses in this country are still struggling financially, even though the UK is now officially out of recession.
New PAYE fines introduced by HMRC
Limited company contractors, recruitment agencies and umbrella companies could be in line for a series of new PAYE penalties, which have been introduced by HMRC from the start of this tax year.
Late payment trends could affect umbrella companies
According to recent research by BACS, the payment of invoices to UK SMEs, including limited company contractors and umbrella companies, is being delayed by an average of more than 40 days longer than the original invoice date.