How to Charge Statutory Interest on Late UK Invoices
•3 min read
statutory interestlate payment feeBank of England base ratedebt recovery UK
The Late Payment of Commercial Debts Act 1998 allows you to charge 8% plus the Bank of England base rate.
Under UK law, B2B invoices that are paid late accrue statutory interest. Here is how to calculate and apply this to a new invoice...
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