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Search results: 7 article(s) found in topic: Debt recovery - keyword: Interest

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OK to charge interest?

A customer has built up a large overdue account. You’ve told them that if they don’t pay you’ll add interest starting from next month. They say that you can’t do that because it’s not in your terms and conditions of sale. Are they correct? More...


How to incentivise prompt payment

Although the government continually “encourages” the prompt settlement of invoices, its message routinely falls on deaf ears. So what can the directors do to incentivise quick (or early) payment? More...


New EU rules on late payments

To help small companies, the EU Parliament has voted to strengthen existing legislation that deals with the late payment of invoices. What’s going to happen? More...


What’s the highest rate of interest you can charge?

Late payments are an increasing problem for smaller companies. So you might be thinking about charging a higher rate of interest to prevent the problem altogether. What’s the latest from the Court of Appeal on this? More...


Can’t claim interest - it’s wrong!

A customer has refused to pay your company’s invoice because of a minor error in the paperwork. It doesn’t change the fact that they owe you money. You now want to add on interest, but they’re claiming this will be illegal. Are they right? More...


Will the Act work for you?

Legislation allows you to charge interest on overdue invoices. But how can you ensure it really works in practice? And what if the boot’s on the other foot and you’re being chased? Do you have to cough up the extra? More...


New interest rate for late payments

Last updated: 02.07.2020

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