Payment Pulse
Insights for businesses that want to get paid on time
Insights for businesses that want to get paid on time without burning relationships.
Why unpaid invoices quietly damage good businesses
An overdue invoice rarely feels like an emergency on day one. But left unaddressed, it erodes cash flow, payroll confidence, supplier goodwill, and owner wellbeing.
£26bn
owed to UK businesses in late payments at any given time (GOV.UK)
The hidden cost of waiting too long to chase payment
The longer an invoice sits unpaid, the harder it becomes to chase professionally. Early, polite reminders protect relationships and reduce awkwardness.
86 hours
average time UK businesses spend chasing late payments each year (GOV.UK)
Late payments in the UK: the numbers every business owner should know
A data-led look at the scale of late payments in the UK, drawing on GOV.UK, UK Parliament, and Xero small business data.
£11bn
estimated annual cost of late payments to the UK economy (GOV.UK)
How professional reminders protect customer relationships
Chasing payment does not need to sound aggressive. Clear, calm reminders can be better for both sides — and keep good customers close.
~50%
of invoices are paid late, per evidence reported by UK Parliament
Cash flow is not vanity — it is survival
Revenue means little if the cash does not arrive. Understanding the gap between invoiced revenue and usable cash is what keeps a business alive.
38 a day
UK businesses estimated to close each year due to late payments (GOV.UK)
When should you chase an overdue invoice?
A simple, calm timeline for following up — from a friendly pre-due nudge to a firm final notice — so nothing slips and nobody is surprised.
29.1 days
average time UK small businesses waited to be paid, Apr–Jun 2024 (Xero)
What UK businesses can charge on late commercial payments
Statutory interest lets businesses charge for late commercial payments. Here is the headline rule — and why you should always check your contract and current guidance.
8% + base rate
statutory interest on late business-to-business payments (GOV.UK)
Why invoice tone matters more than most businesses think
Tone can decide whether a reminder gets paid, ignored, or quietly damages the relationship. Small wording choices carry a lot of weight.
7.3 days
average lateness of payments to UK small businesses, Apr–Jun 2024 (Xero)