IT Support &
Business Software

New Payment Practice Regulation

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The government has recently confirmed that from 6 April 2017, large companies and limited liability partnerships will be required to publish their payment practices, policies and performance on a half-yearly basis for financial years beginning on or after this date. Businesses that meet two or more of the following criteria will be affected:

  • £36m+ Turnover
  • £18m+ Balance Sheet
  • 250+ Employees

It is expected that an online submission page will be available on the HMRC website before this date.

To assist users with this requirement, Pegasus have released Opera 3 (2.40.11) and Opera II (7.60.11). In these releases, a new field has been added to the Purchase Transaction file that records the date of when the balance of an outstanding invoice was allocated in full. This field is also available in the Reporter application.

If your business is affected by these changes, your software will require upgrading. To discuss this further, please contact PCR.


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