New reporting requirements on prompt payment were announced in the Budget 2015. The Procurement Policy Note 03/16 requires central government departments, including their Executive Agencies and Non-Departmental Public Bodies, to publish, on an annual basis, (i) the percentage of their invoices paid within 30 days, (ii) the amount of interest paid to suppliers due to late payment and (iii) the total amount of interest that the contracting authority was liable to pay (whether or not paid and whether under any statutory or other requirement), due to a breach of regulation 113.
Financial Year | Percentage of invoices paid within 30 days | Interest paid to suppliers due to late payment | Interest liable to pay |
2015-16 | 84.57% | £0.00 | £15,680 |
2016-17 | 78.77% | £0.00 | £16,411 |
2017-18 | 100% | £0.00 | - |
2018-19 | 84.26% | £0.00 | £12,900 |
2019-20 | 80.67% | £0.00 | £14,180 |
2020-21 | 72.88% | £0.00 | £17,568 |
The information in the table above relates to UK invoices only.