Late payments consultation: tackling poor payment practices
Executive summary
AAT welcomes this consultation by the Department for Business and Trade on tackling poor payment practices. Late payments are not just an inconvenience – in this difficult economic climate, getting paid on time can be the difference between survival and closure.
Over 1.5 million businesses are affected by late payments, which hold back their growth, and cause 38 businesses to shut down every day. This makes late payments one of the biggest issues to SMEs and costs the wider economy almost £11 billion annually.
AAT supports the Government’s move to take further action to ensure large businesses are held accountable for paying their suppliers on time and stands ready to contribute practical ideas based on the everyday experiences of our members.
Related consultation responses
Autumn Budget 2025 representation
This sets out AAT's position on skills, financial literacy, taxation, professional standards, financial access, late payments and digital adoption.
Small business strategy: Business and Trade Select Committee inquiry
We recognise the recent progress made but further action is needed to address barriers to growth for small businesses. Late payments remain a major issue.
