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Late Payment of Interest

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12 years 2 months ago #766 by easykey
Late Payment of Interest was created by easykey
2 Questions:

1 - If we raise a new invoice to charge for a late payment I assume this should have a VAT rate of zero?

2 - What if this new invoice for interest is not paid? Can I charge Interest on the late payment of this?

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12 years 2 months ago #768 by David J
Replied by David J on topic Re: Late Payment of Interest
Hello Denis

1. When you make a claim for interest and compensation you do not add VAT to that claim.

2. Once you make a claim, interest continues to accrue on a daily rate until the principal, compensation and interest are paid in full.

Regards

David

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