Late commercial payments: charging interest and debt recovery
Claim debt recovery costs on late payments
You can also charge a business a fixed sum for the cost of recovering a late commercial payment on top of claiming interest from it.
The amount you鈥檙e allowed to charge depends on the amount of debt. You can only charge the business once for each payment.
| Amount of debt | What you can charge |
|---|---|
| Up to 拢999.99 | 拢40 |
| 拢1,000 to 拢9,999.99 | 拢70 |
| 拢10,000 or more | 拢100 |
These amounts are set by late payment legislation.
If you鈥檙e a supplier, you can also claim for reasonable costs each time you try to recover the debt.
Read more on recovering debt.