BIS proposes onerous ‘voluntary’ disclosures on creditor payment practice

The next article in the Remedy business advice series looks at more information companies may have to provide at the end of each financial year.

Paying your creditors in a responsible way has fallen under the Department for Business, Innovation and Skills (BIS) spotlight and here we look at the end of year reporting  disclosures it wants companies to make. Disclosure of this information will require most companies to establish potentially cumbersome and expensive mechanisms to capture, collate and record this data.

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