If your clients fail to pay on time, you have the right to charge them interest on the unpaid amount. Let this guide show you how to calculate interest.
Late payments can cause a financial strain on your business. This is where late payment interest and compensation come into play.
Late payment interest charges can be a frustrating issue for businesses. Not only can they be a financial burden, but they can also damage relationships.
Learn how to add late fees to your invoices, understand invoice payment terms and ensure timely payments with our comprehensive guide.
Calculating late invoice interest is straightforward. Read our step-by-step process of how to work out the interest for your overdue invoices here.
The law gives you the right to charge interest at the Bank of England base rate plus 8%. Understand the rate of interest here.
Late payments create cashflow problems but using your legal right to claim interest can encourage customers to pay on time.
Loading categories...
Loading recent posts...
Have you experienced late payments? Share your story to help other businesses.
