1. Discussions forums
  3. Pay on time supporter forums
  5. The late payment of commercial debts (interest) Act.
  7. VAT on Late Payment Charges
× Welcome to the late payment of commercial debts (interest) act. Forum!

Post questions here regarding the use of the Late Payment Legislation

VAT on Late Payment Charges

More
13 years 7 months ago #363 by logicool
VAT on Late Payment Charges was created by logicool
Can you please let me know if I should be charging VAT on either interest or compensation charges?

Please Log in or Create an account to join the conversation.

More
13 years 7 months ago #364 by David J
Replied by David J on topic Re:VAT on Late Payment Charges
Hello

You do not charge VAT on either the interest or the compensation.

When doing your calculation though, you include VAT. So for a £1000.00 invoice, you will make a claim based on £1200.00.

More information can be found on this page about how to calculate late payment interest and compensation

Kind regards

David

Please Log in or Create an account to join the conversation.

More
13 years 7 months ago #366 by logicool
Replied by logicool on topic Re:VAT on Late Payment Charges
Thank you for your help!

Please Log in or Create an account to join the conversation.

  1. Discussions forums
  3. Pay on time supporter forums
  5. The late payment of commercial debts (interest) Act.
  7. VAT on Late Payment Charges
Time to create page: 0.125 seconds