The Payment and Cash Flow review will scrutinise existing payment practices and the measures in place to make sure small firms are not ripped off by their larger clients – with over £23.4 billion currently owed in outstanding invoices to UK businesses.

Delays in payments can be very frustrating, especially in sectors like the construction industry. Whether you’re a small trader such as a plumber or electrician or a larger building company taking on contract work, prompt payment is good for cash flow and allows you to manage your business more efficiently.