Government vows to act on SME late payments

The UK government has launched tougher measures to tackle SME late payments to small businesses as part of its upcoming Prompt Payment & Cash Flow Review.
The Prompt Payment & Cash Flow Review is a scrutiny of current payment practices, measures and progress in combating SME late payments issues to help the government assess the right support is in place to support small businesses.
SME late payments
In 2022, SMEs were owed on average an estimated £22,000 in late payments. The gove