Regulation 3 of the Reporting on Payment Practices Regulations 2017, SI 2017/395 (the Regulations), requires certain large companies and Limited Liability Partnerships (LLPs) (referred to as 'qualifying companies' and 'qualifying LLPs') to prepare and publish information about their payment practices and performance in relation to 'qualifying contracts' twice per financial year on an official website within 30 days of the end of each reporting period. These rules were introduced in response to the much reported problem of smaller, more economically vulnerable suppliers being forced to wait considerable time for payment in return for their goods and services.

The corresponding regulations for LLPs are available here.

The Department for Business, Energy & Industrial Strategy , now known as the Department for Business and Trade (DBT), has issued guidance (the Guidance) to assist relevant businesses to meet their reporting requirements.