Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time to pay for SMITH & WILLIAMSON HOLDINGS LIMITED has increased from 22 days in May 2020 to 34 days in June 2021. This represents a 54.5% increase in the time taken to pay invoices.
The percentage of invoices paid within 30 days has decreased from 86% in May 2020 to 48% in June 2021. This represents a 44.2% decrease in on-time payments. The percentage of invoices paid between 31 and 60 days has increased from 13% in May 2020 to 40% in June 2021. This represents a 207.7% increase in late payments. The percentage of invoices paid later than 60 days has increased from 1% in May 2020 to 12% in June 2021. This represents a 1100% increase in significantly late payments. Finally, the percentage of invoices not paid within agreed terms has increased from 14% in May 2020 to 65% in June 2021. This represents a 364.3% increase in non-compliant payments.
Between May 2020 and June 2021, SMITH & WILLIAMSON HOLDINGS LIMITED saw an increase in the average time to pay by 54.5%. This was accompanied by a decrease in on-time payments by 44.2%, an increase in late payments by 207.7%, an increase in significantly late payments by 1100%, and an increase in non-compliant payments by 364.3%. The worst period for SMITH & WILLIAMSON HOLDINGS LIMITED was in June 2021, where only 48% of invoices were paid within 30 days and 65% of invoices were not paid within agreed terms.
| 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 2021 - 30 Jun 2021 | 05 Aug 2021 | 34 | 48% | 40% | 12% | 65% |
| 01 May 2020 - 31 Dec 2020 | 28 Jan 2021 | 22 | 86% | 13% | 1% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Firm policy is to pay suppliers within the agreed credit terms of 30 days. Minor payment delays occur when an invoice is received shortly after the weekly payment run. Disputed amounts may also result in processing delays. There is no stipulated maximum contractual payment period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Any payment disputes are considered by the relevant department head and, if necessary, the Group Financial Controller. Disputes are usually resolved within 30 days from the date the dispute was raised.
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
Smith & Williamson Holdings Limited is registered as a financial services holding company (SIC 64205) and forms part of the wider S&W group, formerly trading as Smith & Williamson and, more recently, under the Evelyn Partners brand. The group provides professional services including audit and assurance, tax, business outsourcing, advisory and consulting work, serving businesses, private clients, entrepreneurs, real estate, fintech and manufacturing sectors among others. According to the group's own site, the business now operates under the S&W name following a rebrand, describing itself as helping clients navigate complexity through accounting, tax, audit and advisory expertise. As a holding entity, this company itself does not trade directly with clients but sits within this professional services group structure.
Generated from the company's website and Companies House records. Sources: smith.williamson.co.uk · smith.williamson.co.uk