Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.
Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚
Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚
Interest on late payments
TALLY
Settling In NicelyRegistered Posts: 22
Hi,
This is probably not the right forum to post this, but I thought if anyone is going to know it would be you guys. I mainly deal with the purchase side of things and so far have not had to pay any interest! Could anyone tell me what they charge customers in interest for late payments. What are the rules, does it depend on the bank rate at the time. Any advice would be appreciated.
Thanks.
This is probably not the right forum to post this, but I thought if anyone is going to know it would be you guys. I mainly deal with the purchase side of things and so far have not had to pay any interest! Could anyone tell me what they charge customers in interest for late payments. What are the rules, does it depend on the bank rate at the time. Any advice would be appreciated.
Thanks.
0
Comments
www.payontime.co.uk/calculator/statutory.html
Interest is based on base rate, reviewed every six months, plus 8%. Admin charges can also be charged based on the amount outstanding.
Hope the above link is helpful
more information is here:
http://www.mycreditcontrollers.co.uk/Articles/2015_01_Interest_on_Overdue_Payments.html