Late Payment Directive
We are required to publish performance data in compliance with the Late Payment of Commercial Debts Regulations 2002 and Late Payment of Commercial Debts Regulations 2013
Details
Late payments constitute a major obstacle to the free movement of goods and services and can substantially distort competition. We all want an environment where paying on time is the norm and late payment is seen to be unacceptable across the business community. The UK Government recognises that the public sector should set a strong example by paying promptly.
Debtors are forced to pay interest and reimburse the reasonable recovery costs of the creditor if they do not pay for goods and services on time (usually 30 days for public authorities). The statutory right to claim interest and other compensation recovery costs and entitlements are not compulsory and the supplier decides whether to use their rights.
The table below shows:
- Percentage of invoices paid within 30 days
- The amount of interest paid to suppliers due to late payment
| Year | % paid within 30 days | Interest paid to suppliers | Full liability |
|---|---|---|---|
| 2023 to 2024 | 91% | £3086.95 | £316,120 |
| 2022 to 2023 | 90% | £1117.26 | £333,809 |
| 2021 to 2022 | 92% | £926.38 | £235,921 |
| 2020 to 2021 | 91.58% | £470.91 | £275,311 |
| 2019 to 2020 | 93.17% | £449.59 | £194,859 |
| 2018 to 2019 | 93.03% | £976.89 | £292,081 |
| 2017 to 2018 | 92.79% | £846.59 | £228,466 |
| 2016 to 2017 | 93.11% | £932.38 | £228,440 |
| 2015 to 2016 | 85.31% | £810.34 | £482,022 |
| Total | £9,617.29 | £2,587,030 |
Documents
Last updated 16 April 2024