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Can I claim compensation for debt recovery costs and VAT, as well as late payment interest?

April 26, 2017claim compensation costs debt late payment recovery VAT

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Can I claim compensation for debt recovery costs and VAT, as well as late payment interest?

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The right to compensation for debt recovery costs was introduced for contracts dated on or after 7th August 2002. This can be claimed alongside the statutory late payment interest. Businesses are entitled to claim compensation when a debt remains unpaid after the date specified on the contract, or in the absence of a contract, 30 days after the delivery of the goods or service.