Late payments and the Commercial Payments Bill

The UK's approach to late payment is undergoing its most significant reform in a generation.

The Commercial Payments Bill is a landmark piece of legislation that will apply across the UK and reach into every sector of the economy, from construction and retail to financial services and the public sector. This is not a niche regulatory update; it is a fundamental shift in the way businesses of all sizes are expected to treat one another when it comes to payment.

At the heart of the reforms is a significant step up in regulatory intervention. The Small Business Commissioner will be equipped with meaningful enforcement powers, moving from an advisory role to one with real teeth. Equally, whilst construction has long been familiar with statutory adjudication, the extension of adjudication to other sectors will be a wholly new experience for many businesses and their legal advisors.

This hub brings together Trowers' cross-sector expertise to help you understand what the reforms mean for your business and how to prepare. As the Bill continues its passage through Parliament, our specialist teams will provide sector-by-sector analysis, practical guidance and thought leadership to keep you ahead of the changes.