New changes advice

When do the new changes come into effect? Can we still charge the current £40/£70/£100.00 rates on all overdue invoices?

What is the proposed date that we would need to change this? Would it be old rates apply if overdue up to the new date or would the new rates apply to all old late payments also?

These are all things still to be determined.

The current proposal is to reduce the fixed element to €40,

Legislation is due to be enacted by 16th March, but comments made in parliament last week imply there is no rush on the governments part.

I suggest you lobby your MP.

Please read comments made in other threads and post your opinions. It's only by consensus we can make things change. If everyone says nothing the lobbyists will win and Sainsbury move to 75 day payment terms will become a favourable option !