Government launches New Fair Payment Code
Healthy cash flow is critical for small business' survival and growth. Late and long payment times disrupt the cash flow cycle and can prevent a business from paying its bills, eventually leading to business failure. In 2023 15% of small businesses and medium sized...
FIS relaunch Integrated Management Standard to support organisational capability
New requirements in the Building Regulations identify the need for businesses to demonstrate organisational capability. On a basic level, this means businesses will need to evidence how they check people are competent and ensure they are supported by effective...
Changes to the Construction Industry Scheme
Over the last six months, HMRC has made a number of changes to the Construction Industry Scheme (CIS), including: Compliance with VAT obligations has been added to the Gross Payment Status compliance test which means if businesses do not comply with their VAT...
Government takes action to back small businesses and tackle late payments
The government announce the introduction of tougher measures to tackle late payments to small businesses. Secretary of State Minister Jonathan Reynolds has set down his commitment to: foster a strong payment culture in the UK by bringing the payment performance and...
Helping the supply chain navigate the collapse of ISG
On 20 September 2024, the companies that made up the ISG Group were placed in administration. ISG administrators have advised customers that no further work will be undertaken on existing UK contracts and that the UK operations of the ISG Group have ceased to trade...
Advice on Managing Insolvency from FIS Associate BABR
Following the recent unfolding situation with ISG, FIS Associate Member and insolvency practitioner BABR has clarified what this means for affected businesses and provide guidance on what you should do next. Understanding Administration Administration is when a...
Lens Blog – Don’t sign your life / company away
Len's consultancy has never been busier dealing with so many commercial and contractual issues for clients - a sign of the times as financial pressures continue to mount within the UK construction industry. A consistent problem is the price that so many contractors...
Conflict Avoidance Conference – Promoting Co-operation in Construction
FIS Chief Executive Iain McIlwee will be speaking at the Conflict Avoidance Conference on 2 October in London. Iain will be discussing the Conflict Avoidance Pledge including the tools required to avoid and manage emerging disputes. Speakers include Sir John Armitt,...
Should I sign a Contract for Design, in whole or in part?
FIS is seeing a concerted attempt to increase work administered under Contractor Design Portions (CDP). This is an area of growing concern for the sector as it pushes more risk into the supply chain without adequate controls to co-ordinate the design development...
Lens Blog – Contractually Speaking: Views from the front line
During the course of the last few weeks, Len has received significant communication from FIS members. Here he higglights various challenges and potential solutions. A key resource recommended is the CICV Best Practice Guide (BPG), which offers valuable insights for...