IPSE Payment Practices Index

Late payment continues to plague freelancers, with freelancers spending an average of 20 days a year chasing unpaid invoices, with the average amount currently owed standing at £5,230. We know that late payments seriously damage the financial wellbeing of the self-employed, with one in five of those experiencing late payment reporting that they have found themselves without the money to cover basic living expenses.

Since April 2017, large-sized companies and limited liability partnerships have been required to report their payment practices to government on a half-yearly basis. As part of efforts to improve payment practices by companies in the UK, IPSE has collated the latest release of payment data from the UK Government. In the below table, you will find the latest payment practices of 6,448 clients that constitute as large-sized companies in the UK.

Large-sized companies are those that exceed two or more of the following:

Turnover of £36 million
Balance sheet total of £18 million
250 employees

Within the table, you will also be able to find whether your client is voluntarily a member of the Prompt Payment Code – a commitment to pay all invoices to contractors and suppliers within 60 days and enforced by the Small Business Commissioner and a board of members which includes IPSE.

Please note: Not all large-sized companies in the UK are included as the government release of reports left some companies without information and we have only collated the latest payment practices report for those companies that have filed since 2019.

If you believe that your client meets the requirements to be a large-sized company, feel free to contact [email protected] and we can contact the company directly in an attempt to acquire the latest payment terms.