SCOTTISH WIDOWS SERVICES LIMITED
Company Information
- Company Number
- SC189975
- Registered Address
- 69 Morrison Street, Edinburgh, EH3 8YF
- Status
- Active
- Employee Count
- 1,873
- Turnover
- £990,626,000
- EBITDA
- £43,154,000
Additional Details
- Website
- https://scottishwidows.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 29 September 1998
- Nature of Business
- 66290 - Other activities auxiliary to insurance and pension funding
- Industries
- Financial Services
- Region
- Scotland
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| 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 2025 - 30 Jun 2025 | 30 Jul 2025 | 12 | 92% | 5% | 3% | 10% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 15 | 90% | 7% | 3% | 8% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 14 | 93% | 4% | 2% | 5% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 13 | 93% | 4% | 3% | 5% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 12 | 94% | 4% | 2% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 18 | 88% | 7% | 5% | 10% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 17 | 88% | 8% | 4% | 10% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 21 | 85% | 8% | 7% | 12% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 23 | 88% | 6% | 6% | 10% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 18 | 87% | 9% | 4% | 11% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 23 | 83% | 9% | 8% | 12% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 28 | 72% | 15% | 13% | 25% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, Scottish Widows Services Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 65% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by Scottish Widows Services Limited where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by Scottish Widows Services Limited. Sufficient link to the UK Our payment statistics may include some payments made to non-UK entities where we have been unable to ascertain whether the contract has a sufficient link to the UK to meet the criteria for reporting. It is not Scottish Widows Services Limited policy to differentiate supplier payment terms based on supplier jurisdiction and our payment practices for non-UK entities are representative of those followed for UK entities.
Maximum contractual payment period agreed
60
Dispute Resolution Process
Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team (LloydsInvoiceEnquiries@Lloydsbanking.com). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
Other Payment Information
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
SCOTTISH WIDOWS SERVICES LIMITED is a financial services company based in Edinburgh, Scotland. The company was founded in 1815 and has a long history of providing reliable and trusted financial services to its customers.
The company offers a wide range of products and services including pensions, investments, savings, and insurance. They also have a strong focus on sustainability and have implemented various initiatives to reduce their environmental impact. This includes a commitment to using renewable energy sources and reducing their carbon footprint.
One of their key sustainability programs is their partnership with the Woodland Trust, where they have pledged to plant over 2 million trees by 2022. They also have a recycling program in place and have reduced their use of single-use plastics in their offices.
The company is led by CEO Antonio Lorenzo, who has over 25 years of experience in the financial industry. He is supported by a team of experienced professionals who are dedicated to providing excellent customer service.
Customers can contact SCOTTISH WIDOWS SERVICES LIMITED through their website, which also provides access to their online services and resources. The company's registered office address is located at 25 Gresham Street, London, EC2V 7HN, United Kingdom.
In summary, SCOTTISH WIDOWS SERVICES LIMITED is a well-established financial services company with a strong commitment to sustainability. They offer a variety of products and services to meet the financial needs of their customers and are led by a team of experienced professionals. Their dedication to sustainability sets them apart from other companies in the industry.
