Business Secretary Grant Shapps has announced a comprehensive review into tackling late payments for small businesses, while urging large companies to pay their smaller suppliers promptly.
The BVRLA has helped to secure much-needed regulatory clarity around the legal status of rental and leasing firms in the vehicle supply chain. Following significant input from the association, the Competition and Markets Authority (CMA) has formally stated that rental and leasing firms can continue to be considered as ‘end users’, a status that was previously unconfirmed following the UK’s exit from the EU.
The BVRLA is reminding leasing brokers and other members who carry out regulated business and charge a fee either for work carried out or for cancellations, that they must have an Information Notice in place.