Read full details on the consultation process, including our review approach and feedback received during the 6-week consultation period for the revised guidance material for the Payment Times Reporting Scheme.
During the six-week consultation period, the Payment Times Reporting Regulator received 22 formal submissions, in addition to a large amount of informal feedback in the form of enquiries.
Due to the varying formats in which feedback and submissions were received, we have prepared this consultation summary as a consolidation of responses rather than publishing each submission received.
What’s changed since the consultation?
The most significant changes made to the guidance notes in response to the feedback are:
- inclusion of some website guidance not initially included
- clarification on methods to determine ‘total income’ for income thresholds
- clarification and addition of several examples.
A number of other clarifications and updates were made and are set out in the summary in a section-by-section basis. In addition to those changes, other typographical and formatting corrections were also made.