Category: Payments
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What construction should know about the new retentions reporting laws
New regulations now force qualifying companies to report on various aspects of how they deal with retentions. Michelle Essen and James Cooper explain. From 1 March 2025 new laws require certain companies to report on the retentions they hold and on their retention practices. While reporting on payment performance and practices has been required since…
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‘Our main contractor client is withholding payments. What can we do?’
This isn’t the first, and certainly won’t be the last, time I’ve heard about a subcontractor protesting about being treated unfairly by a main contractor client. When I was taking my first steps in the industry I’ve grown to be so passionate about, things were a lot more difficult for subcontractors. That may sound hard to…
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Will a ‘winding-up’ petition force a main contractor to pay up?
The costs of issuing the petition should also be taken into account. In 2022 the deposit required for a petition increased from £1,600 to £2,600. Combined with the petition fee and solicitor’s costs, this results in a minimum outlay of £5,000- £6,000 plus VAT. View the original article and our Inspiration here