Retention records added to stricter payment reporting laws

The Government is giving contractor payment reporting laws extra teeth after coming under fire for not going far enough on corporate payment transparency.
After industry consultation, ministers have agreed to include fresh requirements to report retention records in six monthly returns.
There will also be a new value metric, so businesses can see the value of invoices, including invoices paid late, and a disputed invoices metric.The new regime is expected to include:
• the average number of