New Measures to Tackle Late Payment
As part of its Small Business Plan, the Government has launched a consultation on strengthening late payment legislation, which it says will make it the toughest amongst the G7 nations. With 1.5 million businesses affected by late payments at a cost of almost £11 billion per year to the UK economy, the consultation sets out the following proposed package of legislative measures, which will impact the whole construction supply chain:
- Requiring audit committees to make recommendations on payment performance to company directors before results are published
- Introducing maximum payment terms of 60 days, which may be reduced to 45 days after five years
- Introducing a deadline of 30 days for disputing an invoice after receipt
- Making it mandatory to pay interest of 8% above the Bank of England base rate on late invoices
- Requiring large businesses to report on the payment of statutory interest
- Giving the Small Business Commissioner (SBC) powers to impose financial penalties on large businesses that consistently pay late
- Introducing additional powers for the SBC, including verifying the data submitted under the Reporting on Payment Practices and Performance Regulations
- Specific to construction, either prohibiting the use of retentions or introducing requirements for retentions to be protected in a separate bank account or through a guarantee.
The consultation is an opportunity to build on the work that has been undertaken to improve payment performance within construction to date, and Build UK is looking at how the proposals will work within the current regulatory framework, including the Construction Act. The Department for Business and Trade has confirmed that construction disputes will remain outside the remit of the SBC, and any new powers given to the SBC to provide legally binding arbitration decisions would not apply to construction disputes. Build UK will be working with members across the supply chain to submit a comprehensive response to the consultation by the deadline of Thursday 23 October.
FenceX 2025 – Big News Incoming… and a Big Prize Too!
We’re heading into the final stretch before FenceX 2025, and the excitement continues to build – with visitor numbers rising, the seminar theatre finalised, and destruction testing and live outdoor demos guaranteed to draw a crowd. But that’s not all…
🕵️♂️ We’ve got two exciting announcements — and here’s your exclusive preview:
🎁 First up… FenceX 2025 will be running a FREE PRIZE DRAW for all FenceX visitors!
One lucky winner will receive an amazing prize – this is definitely one you won’t want to miss!
📰 And watch this space for details on our new official media partner for FenceX – we’re thrilled to be joining forces with a publication that knows fencing inside and out.
🎟️ If you haven’t already booked your free ticket – or encouraged your colleagues and contacts to do the same – now’s the time:
👉 www.fencex.com
Using Go Construct Careers
With CITB reporting that the industry needs to recruit almost 50,000 extra workers each year until 2029, Go Construct Careersis a new platform providing a one-stop shop for new entrant opportunities in construction, including apprenticeships, T Level placements and work experience opportunities, across England, Scotland and Wales.
🏆 Final Few Weeks to Enter the UK Fencing Industry Awards!
The countdown is well and truly on! There are just a few short weeks left to submit your entries for the 2025 UK Fencing Industry Awards, and we want to see YOUR business in the spotlight.
Whether you’re proud of a recent installation, have a rising star on your team, or work with a supplier who always goes the extra mile — now’s the time to shout about it.
With new categories, a brilliant new venue at Mercedes-Benz World, and our newly revealed guest speaker – Perry McCarthy (the original Stig!), this year’s awards are shaping up to be something special.
⭐ Entries now close soon – so don’t miss your chance to be part of it.
👉 Click here to enter now
Let’s celebrate the best in fencing – and that includes you.
📢 AFI Annual General Meeting – 10th September, 3PM
AFI members – this is your chance to have your say and stay up to date on the latest developments in your Association and the wider fencing industry.
📍 Join us in person:
IAE, Mossfield Road, Longton, ST3 5BW
💻 Join us online:
Click here to join via Teams
✅ Hear updates on AFI projects
✅ Share your views on key industry issues
✅ Connect with fellow members
🗓 Wednesday 10th September – 3:00pm
Your voice matters. Be part of it!
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