GOV.UK
INHEALTH UK HOLDINGS LIMITED
Company number: 06993831
Reporting period:
1 April 2021
to 30 September 2021
This report was filed on 18 November 2021
and approved by Steve Scott
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 37%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 27 %
Payment terms
Shortest standard payment period
45 days
Longest standard payment period
60 days
Standard payment terms
Our supplier onboarding includes a supplier set up form, which states our 60 day (BACS) payment terms. In some cases, individual agreements are in place with suppliers, which have alternative payment terms.
Were there any changes to the standard payment terms in the reporting period?
Yes – Our standard payment terms have changed from 45 days to 60 days in this period.
Were suppliers notified or consulted about these changes before they were made?
Yes – New Suppliers are provided a standard contract of 60 days
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Accounts Payable contact information is provided on all emails, purchase orders and remittances sent from our Accounts Payable team. Supplier communications are also sent out annually to remind suppliers of our payment processes.
Any dispute about invoice payments that cannot be resolved with the Accounts Payable team and the person who requisitioned the service can be escalated initially to the Head of Procurement or Group Financial Controller and thereafter, if still unresolved, to the Chief Financial Officer.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No