The UK government has confirmed the biggest overhaul of late payment law in 25 years: a 60-day cap on payment terms, mandatory 8% statutory interest with no contracting out, a 30-day window to dispute invoices, and new fining powers for the Small Business Commissioner. Here's what Park Royal SMEs need to do now to protect cash flow — whether you're chasing late payers or worried about being one.

This article explains how corporate debt recovery works in practice, from secured and unsecured debts to enforcement, charging orders, and insolvency proceedings. We set out a clear, cost-conscious approach to recovering payment efficiently, helping businesses understand their options and avoid unnecessary legal expense.