Late bill payment

[Fyncu Myncu]

I've been told that small businesses can charge 8% on late paid bills. Does anyone know how this is calculated and how you go about charging it - can you just send a bill and expect it to be paid?

[Pinotage]

If you're a small business - ask your accountant. Basically its true small businesses can claim a fee if payment is late. It was introduced by the Major government - see Late Payment of Commercial Debts (Interest) Bill [HL] 1997/98. < >

[WendyW]

You can charge it but you may lose future business .. its a fine line to draw.