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DBT updates guidance on payment practices and performance reporting requirements

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Published on: 06 March 2025

Published by LNB News

LNB News 06/03/2025

Document Information

Issue Date: 06 March 2025

Published Date: 06 March 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Department for Business and Trade (DBT) has updated its guidance on statutory payment practices and performance reporting requirements for companies and limited liability partnerships, adding new reporting requirements for businesses with reporting periods that started in January 2025 and specific reporting changes for businesses with qualifying construction contracts, which came into effect on 1 March 2025. The guidance also reflects upcoming regulatory changes, including changes to the thresholds for defining medium-sized companies, effective from April 2025.

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