The government has named the start date for the statutory duty for large businesses to report on payment practices. It is due to come into force from 6 April 2017 for financial years starting after that date. More detail is to be available this autumn as the government confirms the metrics that will be required, which will include the Prompt Payment Code. Guidance is to accompany the secondary legislation.

See: hmttp://www.cicm.com/wp-content/ uploads/2016/09/Letter-to-signatories-Sept2016.pdf