{"id":30622,"date":"2021-07-20T16:08:11","date_gmt":"2021-07-20T15:08:11","guid":{"rendered":"https:\/\/newsblogsnew.ihbc.org.uk\/?p=30622"},"modified":"2021-07-20T16:08:11","modified_gmt":"2021-07-20T15:08:11","slug":"tighter-payment-rules-to-small-firms-come-into-force","status":"publish","type":"post","link":"https:\/\/newsblogs.ihbc.org.uk\/?p=30622","title":{"rendered":"Tighter payment rules to small firms come into force"},"content":{"rendered":"<h3><a href=\"https:\/\/newsblogs.ihbc.org.uk\/wp-content\/uploads\/2020\/08\/pound_blue.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-27213\" src=\"https:\/\/newsblogs.ihbc.org.uk\/wp-content\/uploads\/2020\/08\/pound_blue-201x300.png\" alt=\"\" width=\"107\" height=\"160\" \/><\/a>Reforms to the Prompt Payment Code covering small businesses come into force today requiring payment times to be cut from 60 days to 30 days.<\/h3>\n<h6><em>image for illustration purposes only<\/em><\/h6>\n<p><!--more--><\/p>\n<p><em>The Construction Enquirer<\/em> writes:<\/p>\n<p>Under the tightening of the rules, firms will need to demonstrate they have paid 95% of invoices from businesses with fewer than 50 employees within 30 days\u2026. For larger firms, clients or main contractors are still required to pay 95% of invoices within 60 days, with the public sector held to 30 days\u2026<\/p>\n<p>Firms are also now required formally to acknowledge as a condition of signing the Code that suppliers can charge interest on late invoices&#8230;<\/p>\n<p><a href=\"https:\/\/www.constructionenquirer.com\/2021\/07\/01\/tighter-payment-rules-to-small-firms-come-into-force\/\" target=\"_blank\" rel=\"noopener\">Read more&#8230;.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reforms to the Prompt Payment Code covering small businesses come into force today requiring payment times to be cut from 60 days to 30 days. image for illustration purposes only<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-30622","post","type-post","status-publish","format-standard","hentry","category-sector-newsblog"],"_links":{"self":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/30622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30622"}],"version-history":[{"count":1,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/30622\/revisions"}],"predecessor-version":[{"id":30623,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/30622\/revisions\/30623"}],"wp:attachment":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}