ICAEW calls for Prime Minister to tackle 'late payments crisis'

06 Aug 2019

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged Prime Minister Boris Johnson to combat the UK's 'late payments crisis'.

According to the ICAEW's latest Business Confidence Monitor (BCM) data, late payments from clients 'now pose a greater challenge than they did a year ago'. One in five business owners stated that late payments represent a 'growing challenge' for their firm.

However, the BCM data also revealed that growth in concerns over regulation is 'slowing' as businesses 'gradually adjust to increased regulations'.

Commenting on the issue of late payments, Michael Izza, Chief Executive of the ICAEW, said: 'The Prime Minister has promised Brexit by 31 October and the overriding priority of his government must be to get a good deal.

'However, this feedback from our members, who advise businesses in every sector and level of the economy, reminds us that they face other challenges as well, many of which have little to do with Brexit – such as late payments and the regulatory burden.

'Robust government action on these issues could make a real difference to the business environment, especially for SMEs, and would help to restore confidence and momentum.'

Try a site search Tax return, dividends, pension, autumn statement...

SagexeroSage
Company details

01243 776938

James Todd & Co, 1&2 The Barn, Oldwick, West Stoke Road, Chichester PO18 9AA
James Todd & Co, 16 Northgate, Chichester, West Sussex PO19 1BJ
Copyright

© 2020 James Todd & Co. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


James Todd & Co is the trading name of James Todd & Co Limited. Chartered Accountants and Registered Auditors. Registered No: 07350649 in England. VAT No. 322087875. ICAEW Firm Reference No: C002730145 and James Todd & Co (Lewes) Ltd (formerly known as Axtons). Chartered Accountants. Registered No: 11214467 in England. VAT No. 290460506. ICAEW Firm Reference No: C005791297

Registered to carry out audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details of our audit registration can be viewed at www.auditregister.org.uk

Details of our Designated Professional Body (DPB) activities can be viewed at register.fca.org.uk. A member of the ICAEW Practice Assurance Scheme.