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Advice for freelancers

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10 years 6 months ago #122 by mousemallow
Hi there! New to this site but it's a fantastic resource, thanks :)

I am self-employed/freelance so am not a registered business but I do submit my own tax return etc each year.

Can anyone advise if the late payment interest and compensation terms can apply to freelancers too? I am currently owed a large sum by a company to whom I was the supplier of copywriting and I am hoping I can add the correct legal statement to my invoices from now on to avoid this happening again. I have read through everything on here but must confess some of it is a little confusing, hence this forum post.

Thanks so much!

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10 years 6 months ago #123 by jimbo22
Replied by jimbo22 on topic Re:Advice for freelancers
The wording at the bottom of my invoices is :-

We understand and will exercise our statutory right to claim interest and compensation for debt recovery costs under the late payment legislation if we are not paid according to agreed credit terms.

I would think late payment applies as it is a commercial contract, but you should ask further.

Ensure you have similiar wording on your invoices and that you mention your terms - ie 30 days.

If you have a letter of engagement with your terms set out and signed, even better. You should also make reference to late payment in your terms

Hope this might help.

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10 years 4 months ago #187 by Safe_UK
Replied by Safe_UK on topic Re:Advice for freelancers
Bev Sanford wrote:

Can anyone advise if the late payment interest and compensation terms can apply to freelancers too?


We can tell you categorically that the legislation applies to freelancers and contractors provided you are freelancing for another business.

Eg: Ltd company, sole trader, partnership etc.

It is not absolutely necessary to mention the legislation in your T&C's but is highly recommended. We would however always advise anyone to ensure payment terms are stated and agreed in writing before any work commences!

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