Guidance

Late Payment Directive: user guide to the recast Directive

Guide to amended late payment legislation which comes into force on 16 March 2013, implementing European Directive 2011/7/EU.

• From: Department for Business and Trade and Department for Business, Energy & Industrial Strategy
• Published: 8 March 2013
• Last updated: 3 October 2014 — See all updates

Documents

Directive 2011/7/EU on Combating Late Payment in Commercial Transactions: a Users Guide to the Recast Late Payment Directive

Ref: BIS/14/1116

PDF, 270 KB, 11 pages

Details

This guide provides general advice for businesses and public authorities on the amended late payment law.

Amended late payment legislation comes into force on 16 March 2013, implementing European Directive 2011/7/EU on combating late payment in commercial transactions. The amended legislation will make pursuing payment a simpler process across the European Union, reducing the culture of paying late and making paying on time the norm.

Under the new rules, debtors will be forced to pay interest and reimburse the reasonable recovery costs of the creditor, if they do not pay for goods and services on time (60 days for business and 30 days for public authorities).

Published 8 March 2013
Last updated 3 October 2014 + show all updates

1. 3 October 2014

   Guidance on payment between public authorities and business clarified on page 9.

2. 8 March 2013

   First published.