The average time for GAIN CAPITAL UK LIMITED to pay invoices has fluctuated over the past three periods, with a gradual decrease from 33 days in 2019 to 23 days in 2020, followed by a slight increase to 24 days in 2021. This indicates that the company has been making efforts to pay invoices more quickly, but there is still room for improvement.
The percentage of invoices paid within 30 days has also fluctuated over the past three periods, with a significant increase from 52% in 2019 to 86% in 2020, followed by a decrease to 84% in 2021. This indicates that the company has been consistently paying a higher percentage of invoices within 30 days, but there has been some volatility over the past year.
From 2019 to 2021, GAIN CAPITAL UK LIMITED has shown improvement in their payment practices, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, in 2022, there was a significant increase in the percentage of invoices paid later than 60 days, which could be a cause for concern.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2022 - 30 Jun 2022 | 19 Jul 2022 | 36 | 16% | 40% | 44% | 84% |
| 01 Jul 2021 - 31 Dec 2021 | 19 Jul 2022 | 29 | 34% | 36% | 30% | 66% |
| 01 Jan 2021 - 30 Jun 2021 | 19 Jul 2022 | 24 | 84% | 15% | 2% | 16% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 23 | 86% | 11% | 3% | 14% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Sept 2020 | 27 | 79% | 19% | 3% | 21% |
| 01 Jul 2019 - 31 Dec 2019 | 21 Jan 2020 | 29 | 75% | 17% | 8% | 25% |
| 01 Jan 2019 - 30 Jun 2019 | 27 Nov 2019 | 33 | 52% | 41% | 7% | 48% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
If suppliers have any issues with payments or unpaid invoices then they contact our Accounts Payable team via email or phone. All issues are looked to be resolved within 3 - 5 working days.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
GAIN CAPITAL UK LIMITED is a registered UK company, previously known as CITY INDEX LIMITED between 1983 and 2015, and before that as CITYLANCE LIMITED. Companies House records its nature of business under the SIC code for financial intermediation not elsewhere classified. The available evidence does not describe specific products, client types or trading activities beyond this classification and its corporate history of name changes. It is registered in London and remains an active company, though no further detail on its current commercial operations, ownership structure or services offered is present in the evidence supplied.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk