Late Payment

When a client or customer fails to pay an invoice by the agreed due date, a major cause of cash flow problems for small businesses.

Late payment is the number one cash flow killer for UK small businesses. 50,000 businesses fail each year due to late payment. Knowing your rights and enforcing them is non-negotiable.

A client owes you £3,000, due 30 days ago. Under the Late Payment of Commercial Debts Act, you can add 8% + Bank of England base rate in statutory interest and charge £100 in compensation, automatically.