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Are payment delays getting worse now?

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  • Are payment delays getting worse now?

    I'm finding that a lot of places that used to pay cash are now asking for invoices and paying later, and the ones that used to pay later are now paying MUCH later.

    Is it just me, do you think?
    ....just my opinion

  • #2
    Re: Are payment delays getting worse now?

    Cash deals are pretty much a thing of the past. Revenue have identified that pharmacies were claiming bulk yearly locum payments against tax without any NI numbers etc. so they clamped down.

    Not a bad thing, as prevents any illegals nicking your work. Register as self-employed, and for VAT if earnings over threshold. As I charge VAT, my VAT number suffices, so NI number is not required.

    Always invoice as a matter of course..you should have been doing this anyway. If you don't, Revenue will trace you through your clients and bill you for unpaid tax, which could be considerable. There are also penalties which can be imposed for late payment.

    Contact the companies you locum for and arrange a mutually acceptable payment schedule. You are in business after all..don't expect to be paid on the day every day. 30 days from invoice to payment is acceptable.

    Watch your cash flow for bills etc. until you get the system up and running.

    Fleeg.
    Don't Stop Believing

    http://youtube.com/watch?v=rnT7nYbCSvM

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    • #3
      Re: Are payment delays getting worse now?

      Originally posted by DavidS View Post
      I'm finding that a lot of places that used to pay cash are now asking for invoices and paying later, and the ones that used to pay later are now paying MUCH later.

      Is it just me, do you think?
      It's just you. The PDA have a contract you could use.

      Jeff

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      • #4
        Re: Are payment delays getting worse now?

        Originally posted by Jeff View Post
        It's just you. The PDA have a contract you could use.

        Jeff
        Ah, thank's for that Jeff, you little ray of sunshine!
        ....just my opinion

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