For the sake of the word count, I will refer to theLate Payment of Commercial Debts (Interest) Act 1998, as amended by theLate Payment of Commercial Debts Regulations 2013, as the Late Payment Act 1998. The 2013 amendments to the Late Payment Act 1998 gave referring parti...
That is why the Late Payment of Commercial Debts (Interest) Act was introduced in 1998, allowing smaller companies to charge interest. Now the law has been extended to cover all firms - large or small and in both the public and private sector - which means that even the smallest firms ...
Meanwhile, maybe it’s time to get tough. As the law stands, freelancers are entitled to charge late payerscompensationand penalty interest on commercial debts. For amounts owing up to £999, the penalty is £40, rising to £70 for debts up to £9,999 and £100 above that. In...
The statutory right to interest and compensation, introduced under the Late Payment of Commercial Debts(Interest)Act 1998,appl ies to al l contracts agreed after 7August 2002 Late payments create cashflow problems and expose businesses to the risk that they wi l l not be paid This briefing cov...
debtors under the "The Late Payment of Commercial Debts (Interest) Act 1998, as amended and supplemented by the Late Payment of. Commercial Debts Regulations 2002".The calculator will show you at a glance exactly how much of a financial penalty your company can claim from it's errant debtors...
Email is an incredibly effective tool for credit control. Here at Chaser, we’ve seen that approximately 90%... 20/07/2019 PaymentsReceivables management 8 payment reminder emails to get you paid faster The sad fact is that87% of businesses report that their invoices get paid after the du...
This can leave them paying five times more than the Dart Charge for a single crossing and receiving a penalty of up to £125 for each crossing. So when making your dart charge payment, make sure that you’re sending your money to the right place to avoid receiving a penalty! Dart char...