← Back to Reports

London Payment Practices Report 2022

•By PaymentCheck•Reports

London Payment Practices Significantly Outpace the UK Average

The Numbers

  • Companies analysed: 1000
  • Average PaymentCheck Score: 73.9/100
  • UK average: 50.0/100
  • Difference: London is 23.9 points above the UK average.
  • Top 5 Payers: All scored 100/100
  • Bottom 5 Payers: Ranged from 0/100 to 15.6/100
  • Sector data: Physical Health (85.5) scored highest, Financial Services (82.2) was the most represented sector (146 companies).

What Stands Out

London companies, on average, exhibit considerably healthier payment practices than the rest of the UK, according to our PaymentCheck scores. Despite the strong average, the presence of companies scoring zero indicates there's still significant variation within the capital.

Best Payers

These London-based companies lead the way in prompt payment, achieving perfect scores:

  1. NEO ENERGY NATURAL RESOURCES LIMITED - 100/100
  2. AKO CAPITAL LLP - 100/100
  3. IPG DXTRA GROUP HOLDINGS LIMITED - 100/100
  4. IPG EUROPE LTD - 100/100
  5. PFPL (HOLDINGS) LTD. - 100/100

Worst Payers

These companies recorded the lowest PaymentCheck scores, highlighting potential areas for improvement:

  1. PETROFAC MALAYSIAPM 304 LIMITED - 0/100
  2. MAXUS COMMUNICATIONS UK LIMITED - 0/100
  3. UBS ASSET MANAGEMENT (UK) LTD - 8/100
  4. ENGELS (NO.1) LIMITED - 15.6/100
  5. CSIB (NO.1) LIMITED - 15.6/100

Sector Breakdown

Sector performance reveals some interesting, albeit limited, trends:

  • Physical Health: With a single company contributing to the average, the sector had a score of 85.5.
  • Sports: 82.8 average across 6 companies.
  • Financial Services: A large sample size (146 companies) yields an average of 82.2.
  • Creative: 81.2 based on 7 companies.
  • Human Resources: 80.8 across 22 companies.

Calculate the cost of late payments with our free late payment calculator.

Overall, while London businesses show a strong average PaymentCheck score of 73.9, a stark disparity exists, with some companies scoring zero, compared to the UK average of 50.0.