Unless you state in an agreement with them, that the interest you will charge for late payments is going to be set at X% I don't think you can actually charge them any other interest than the 8% over the current BoE interest rate per annum starting from the day the payment was overdue.

quoted on the estimate and again on invoice and the statements @ 20% above base unless received within 5 days.

its surprizing how the office scutllebug can be used to great effect, its likely some staff have been prommised a pay rise for instance, they then feel that may not happen so raise it with the manager saying is there no money in the company and how secure are we? so as an 'act of confidence' both in financial security and verve will then (usually) get it paid quickly to save the company money and restore confidence. try it out and see for yourself, its a tactic of embarrasement.

regs

alan

Edited July 10, 200619 yr by arfur mo

That is a very good idea and i should imagine you get your money on time.

lee