Ranked in 4 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 87.5/100 qualifies for PaymentCheck Certification
The average time taken for HAYSMACINTYRE LLP to pay invoices has decreased over the three periods, from 38 days in Apr 2022 - Sep 2022 to 24 days in Apr 2023 - Sep 2023. This shows an overall improvement in the company's payment efficiency.
The volatility of the company's average time to pay has decreased over the three periods, with a difference of 10 days between the highest (38 days) and lowest (28 days) average time to pay. This indicates a more consistent payment pattern.
Over the three periods, HAYSMACINTYRE LLP has shown significant improvements in their payment efficiency. The average time to pay has decreased by 14 days, from 38 days to 24 days. This is a 37% improvement. Moreover, the percentage of invoices paid within 30 days has increased from 64% to 70%, while the percentage of invoices paid between 31 and 60 days has decreased from 27% to 24%. The percentage of invoices paid later than 60 days has also decreased from 9% to 6%. This shows that the company has been paying their invoices quicker and more consistently over the three periods.
| 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 Oct 2023 - 31 Mar 2024 | 29 Apr 2024 | 16 | 94% | 5% | 1% | 48% |
| 01 Apr 2023 - 30 Sept 2023 | 26 Oct 2023 | 24 | 70% | 24% | 6% | 45% |
| 01 Oct 2022 - 31 Mar 2023 | 28 Apr 2023 | 28 | 87% | 7% | 6% | 49% |
| 01 Apr 2022 - 30 Sept 2022 | 27 Oct 2022 | 38 | 64% | 27% | 9% | 51% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Where a valid VAT invoice has been received and is not disputed, Haysmacintyre LLP will aim to pay it in accordance with the terms of that invoice or other contractual arrangement. Where no due date is stated on an invoice, and in the absence of any other agreement, a due date of 30 days from the date of the invoice is assumed. Authorised invoices will be paid in one of the payment runs, which usually occur in the middle of the month and on the last Friday of the month.
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
We endeavour to resolve any dispute in a fair and prompt manner. If suppliers are unable to reach an agreement with their Haysmacintyre contact, they should contact our dedicated accounts payable team, who will involve other senior Haysmacintyre people as needed.
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
Haysmacintyre LLP trades as HaysMac, a chartered accountancy and tax advisory firm headquartered in the City of London. It provides audit and assurance, taxation, outsourcing, business advisory and corporate finance services to businesses, private clients and not-for-profit organisations including charities. The firm serves clients across sectors such as education, financial services, fintech, hospitality, life sciences, media, property, retail and technology. Alongside its London base it operates an office in Cape Town supporting audit, tax and internal functions, and is a co-founder of the MSI Global Alliance, giving access to advisers in other jurisdictions. The firm traces its roots to 1866 and its current form to a 2001 merger.
Generated from the company's website and Companies House records. Sources: haysmacintyre.com · haysmacintyre.com