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Retrospective application of the Late Payments Act

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4 years 2 months ago #2013 by PN79
Hello,

I seem to have a unique query for which I am looking for an answer. I have recently received a demand for payment of interest and charges from one of our suppliers who is in administration. They have allowed the administrator to "out-sell" their payment records with the sole intention of collecting as much as possible for the creditors funds. Has anyone had any experience of this type of demand? Given that we currently have no qualifying debts (i.e. all invoices have been paid) can this act still be applied? This relates to 10 invoices paid on an average of 40 days (i.e. 10 days outside the recognised 30 days) total charges and interest £629.06.

Thank you in advance

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4 years 2 months ago #2014 by james@cpa.co.uk
Hi PN79,

Would you be able to email me a copy of what you have received?

I would be quite interested to see see it as it is not something I have heard of an administrator doing before.

James

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4 years 2 months ago #2015 by PN79
Hi James,

Thank you for your prompt response - can you please confirm your email address - is it as per your username?

Also I will have to depersonalise the email to protect both my company and the supplier's details but the content will be identical.

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4 years 2 months ago #2016 by james@cpa.co.uk
Hi yes, it is This email address is being protected from spambots. You need JavaScript enabled to view it.. Please send me a copy of the correspondence with your company name and your suppliers name blacked out or redacted.

It would be interesting to investigate it further.

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4 years 2 months ago #2017 by james@cpa.co.uk
Hi thank you for sending over the documents.

I am afraid to say that on the face of it they have a valid claim. Late payment compensation and interest can be claimed up to six years after the invoice was raised if it was paid late.

If the invoices were not disputed and were indeed paid outside the payment terms then the claim is valid.

James

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