The interest you can charge if another business is late paying for goods or a service is 'statutory interest' - this is 8% plus the Bank of England base rate.

An Act to make provision with respect to interest on the late payment of certain debts arising under commercial contracts for the supply of goods or ...

17 окт. 2024 г. · The generous rate of statutory interest under the Late Payment of Commercial Debts (Interest) Act 1998, at 8% above the base rate, is a valuable ...

The Late Payment of Commercial Debts (Interest) Act 1998 adds an implied term in business-to-business contracts for the supply of goods and services.

... payable). the agreed date for payment. The "statutory interest" rate chargeable, which is simple and not compound, is the Bank of England base rate plus 8%.

The late payment of commercial debts ; 1st January - 30th June 2024, 5.25%, 13.25% ; 1st July - 31st December 2023, 5.00%, 13.00% ; 1st January - 30th June 2023 ...

If not, you are able to use the Late Payment of Commercial Debts (Interest) Act 1998 and claim interest at 8% over Bank of England Base Rate (at the previous ...

"We reserve the right to claim statutory interest at 8% above the Bank of England reference rate in force on the date the debt becomes overdue and at any ...

If there is no agreed credit period, then the Late Payment of Commercial Debts (Interest) Act sets a default period of 30 days after which interest can run.