The Late Payment of Commercial Debts (Interest) Act 1998 is a very useful piece of legislation for small businesses who cannot afford to offer long periods of credit to its customers and clients. The act is designed to both deter late payments and compensate companies whose invoices aren’t paid on time, awarding them interest on outstanding debts and fixed amounts of compensation.
The Financial Management Centre is a UK-wide network of accounting and bookkeeping professionals who you can call on to help you with your business’s books, either to simply help you fill in the right paperwork at the right time, or to handle all your accounting needs.
Brett Wexler was recently appointed president of the Insurance Institute of Chelmsford and South Essex and it is a position he feels very privileged and honoured to take up, as the institute is one of the largest in the UK with over 3,000 CII members.
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