[LRUG] [FINANCE] Startup/finance question around invoices

[Olly Legg]

> If you have it clearly stated in your terms that you'll start charging them interest I'd follow through with that with clear letters after they're late.

Slightly off-topic, but if you don't have a clause in your contract regarding interest on late payments then you can still claim ‘statutory interest’, which is a not too shabby 8% + BoE base rate.

Source: https://www.gov.uk/late-commercial-payments-interest-debt-recovery/charging-interest-commercial-debt