An overdue invoice can cost your business more than the original amount. It ties up cash and takes time to pursue.
For qualifying business debts, interest and fixed compensation may also be recoverable.
We check what applies
As part of assessing your instruction, we review the payment terms and consider whether contractual or statutory additions are appropriate. We explain the basis before pursuing them with your authority.
Statutory interest is generally eight percentage points above the Bank of England base rate. Contractual interest provisions can affect entitlement. Official interest guidance
Fixed compensation may also apply: £40 for debts below £1,000, £70 for debts from £1,000 to £9,999.99, and £100 for debts of £10,000 or more. Official compensation guidance
Clear figures, not unexplained charges
We distinguish the unpaid invoice from any supported interest or compensation, so the business receiving the demand can understand what is being claimed.
Not sure what your business could claim? Contact us about the overdue invoice.
General information only, not legal advice. Entitlement depends on the contract and circumstances.