This document outlines major upcoming government reforms aimed at tackling the industry’s chronic late payment and cash flow issues. Produced in collaboration with Holmes & Hills Solicitors, it breaks down the practical and contractual implications of the “Time to Pay Up” consultation.
Key topics covered include:
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Abolishing Retentions: The proposed outright ban on withholding retention monies and the alternative security measures that may take its place.
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Payment Terms & Disputes: New 60-day maximum payment terms and a strict 30-day window for raising invoice disputes.
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Enforcement: Mandatory interest rates for late payments and expanded powers for the Small Business Commissioner to investigate and penalise poor practices.
Read and download for free here: NAS – Payment Reform – Apr 2026
