Intuit UK wins Fair Payment Code Gold for prompt pay

Intuit UK has received the UK Government's Fair Payment Code Gold Standard, the highest tier in a voluntary scheme overseen by the Office of the Small Business Commissioner.

The recognition comes as ministers move to tighten rules on late payments, including tougher penalties for large companies and repeat offenders. Intuit says it pays small business suppliers in 10 days or less, well within the code's Gold threshold of paying at least 95% of invoices within 30 days.

Late payment remains a significant problem for smaller companies. Research cited by Intuit from its QuickBooks Small Business Insights Survey found that 61% of businesses had invoices more than 30 days overdue, while 65% said they were currently owed money from unpaid invoices.

The survey also found that the average small business is owed £21,400 in unpaid invoices. Businesses with invoices overdue by more than 30 days were more than 1.5 times more likely to draw on cash reserves and 1.4 times more likely to rely on credit cards.

Payment pressure

The Fair Payment Code is designed to improve payment practices across the UK economy and give suppliers greater confidence that they will be paid on time. It has Gold, Silver and Bronze tiers, with Gold reserved for companies that meet the strictest benchmark on payment speed.

Over the past 12 months, Intuit processed 3,800 invoices across its UK operations and worked with 81 small business suppliers. To support faster payments, it updated supplier guidelines and payment processes, and used internal analytics to track performance against accelerated payment targets.

It also uses a procure-to-pay platform that allows suppliers and internal teams to track purchase orders, invoices and payments in one place. The system is intended to improve visibility across the payment process and reduce administrative delays.

Leigh Thomas, Vice President of EMEA at Intuit, said: "Small businesses often face the greatest impact from delayed payments, even though they are critical to the success of larger organisations. Paying suppliers quickly helps them maintain healthy cash flow, invest in their operations and continue delivering the innovation and expertise that companies depend on."

Achieving the Fair Payment Code Gold Standard recognises the steps we've taken to accelerate payments for small business suppliers and reflects our ongoing commitment to powering prosperity for businesses and communities."

Government focus

The award comes as payment culture faces renewed scrutiny in the UK. The government has announced what it describes as the toughest laws on late payments in the G7, signalling a harder line on large businesses that delay settling invoices.

That policy direction reflects the wider economic impact of late payment. In comments provided alongside the announcement, Rob Burlison, Director of Global Corporate Affairs and Public Policy at Intuit QuickBooks, linked overdue invoices to pressure on wages, operating costs and business survival.

"For many small business owners, a late payment can quickly create pressure on cash flow, making it harder to cover costs, pay staff and plan ahead. Delays in payment are not just inconvenient; they can directly affect the day-to-day running of a business, and they are the reason 38 businesses shut down every day."

More than 60% of small businesses have invoices overdue by more than 30 days, with an average of £21,400 outstanding. This highlights how widespread the issue remains and why consistent, timely payment practices are so important for business stability and confidence. The UK economy loses £11 billion every year due to late payments, demonstrating that when small businesses are hit, the wider economy feels it.

The UK Government's new payment reforms are a positive step towards improving payment practices and creating greater accountability across supply chains. The Government is right to act, but businesses must also take responsibility. This is a catalyst for cultural and organisational change. Large organisations need to recognise the influence they have across their supply chains and lead by example. It is critical that these businesses treat prompt payment as a non-negotiable core part of their operations, or small businesses will be the ones paying the price."

"At Intuit, we committed early to the Fair Payment Code, a voluntary initiative that recognises organisations demonstrating best practice in paying suppliers promptly. But this cannot stop with a few. Paying on time must become the standard, not the exception, because the survival of small businesses depends on it," Burlison said.

Emma Jones, Small Business Commissioner, said: "We are on a mission to reduce the many precious hours small businesses spend chasing debt, giving them the capacity to focus on growth. Intuit knows from the small businesses it works with every day the impact that late payments can have, and by becoming a Fair Payment Code Gold Awardee it has stepped up to show that large businesses can pay promptly and fairly. This is good business and delivers for the whole Intuit supply chain."