08/06/2026
The 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗕𝗶𝗹𝗹 was introduced to Parliament recently with its first reading in the House of Lords. It sets out how existing legislation will be amended to introduce the new payment measures, including the ban on retentions.
Once the section of the Bill relating to retentions comes into force, there will be a two-year transition period, during which time retentions can still be used. There will then be a ‘last retention day’ one year after that when all retention monies will become due and must be paid.
The Bill is expected to receive Royal Assent in early 2027 and the Government has confirmed that it will consult on the timing for the section on retentions to come into force.
Read more information from Build UK here> The 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗕𝗶𝗹𝗹 was introduced to Parliament recently with its first reading in the House of Lords. It sets out how existing legislation will be amended to introduce the new payment measures, including the ban on retentions.
Once the section of the Bill relating to retentions comes into force, there will be a two-year transition period, during which time retentions can still be used. There will then be a ‘last retention day’ one year after that when all retention monies will become due and must be paid.
The Bill is expected to receive Royal Assent in early 2027 and the Government has confirmed that it will consult on the timing for the section on retentions to come into force.
Read more information from Build UK here>https://builduk.org/wp-content/uploads/2025/07/Infographic-Transforming-Payment-Performance.pdf
