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This web site provides a simple guide to using the Late Payment Legislation in the UK. If you run a business in the UK this legislation allows you to charge interest where a customer is late in paying their invoices.
This site also provides a calculator that you can use to work out how much interest you can claim on an outstanding debt.
The Late Payment of Commercial Debts (Interest) Act 1998 came into force on the first of November 1998. It has since been amended to bring it into line with a recent european directive (2000/35/EC).