08/06/2026
News & Insights from Bollands💡
The Small Business Protections Bill, mentioned in the King’s Speech, has been introduced in Parliament to aid smaller businesses in payment issues. Key measures include a 60-day cap on payment terms for large businesses, mandatory interest on late payments (8% above the Bank of England base rate), and prohibiting retention payments in construction contracts. The Small Business Commissioner will gain new powers to investigate payment practices. How do you think these changes will impact small businesses? Share your thoughts below! 💬
Read the full article here: https://www.bollands.com/news/late-payment-legislation-laid-before-parliament