https://stream.indieagora.com/videos/watch/89fa070f-45e8-418e-bd3d-158046250a85 Another business paid you late? Under the Late Payment of Commercial Debts (Interest) Act 1998 you can charge statutory interest of 8% a year plus the Bank of England base rate. Base rate has been 3.75% since 18 December 2025, so it's 11.75% a year for debts that went late in 2026. You can also charge a fixed sum once per payment: £40 for debts up to £999.99, £70 for £1,000 to £9,999.99 and £100 for £10,000 or more. Example: £2,000 paid 30 days late = £19.32 interest + £70 fixed sum = £89.32. It covers business customers only, not homeowners (rely on your own terms there). If a contract sets its own interest rate, that applies instead. With no agreed date, payment is late 30 days after the customer gets the invoice or the work, whichever is later. To claim, send a new invoice that adds the interest. Illustrative example. Based on GOV.UK. Not legal or tax advice. Full guide: https://theaitill.com/tools/free/late-payment-interest-calculator https://theaitill.com Mon, 19 Oct 2026 03:20:04 GMT https://validator.w3.org/feed/docs/rss2.html PeerTube - https://stream.indieagora.com https://stream.indieagora.com/lazy-static/avatars/e7035489-e927-4e70-9a79-9a58834fb2de.png https://stream.indieagora.com/videos/watch/89fa070f-45e8-418e-bd3d-158046250a85 All rights reserved, unless otherwise specified in the terms specified at https://stream.indieagora.com/about and potential licenses granted by each content's rightholder.