How long before I'm legally required to pay an invoice?

earthstorm

the 30 day rule is a trade rule.

the trader with his suppliers will have a credit arrangement that could be either

1) 30 days from invoice date
2) by the 30th of the current month
3) by the 20th of the following month

but these are not terms between consumer and trader.

the Plumber will most likely be a sole trader who will use your money to pay for materials for future jobs

pmduk

kat9lives wrote: »

By the letter of the law, I could have paid any time providing it was within 30 days of the invoice date.

By the letter of which law? Unless arrangements have been made otherwise invoices are payable upon presentation.

antrobus

earthstorm wrote: »

the 30 day rule is a trade rule.
...

The 30 days is from the Late Payment of Commercial Debts (Interest) Act 1998.

Unless you agree a payment date, the customer must pay you within 30 days of getting your invoice or the goods or service.

https://www.gov.uk/invoicing-and-taking-payment-from-customers/payment-obligations

earthstorm

antrobus wrote: »

the Late Payment of Commercial Debts (Interest) Act 1998.

This is only applicable if the invoice is made out to a business, it has nothing to do with consumer invoices as what the act states COMMERCIAL DEBT

http://en.wikipedia.org/wiki/Late_Payment_of_Commercial_Debts_%28Interest%29_Act_1998

The Late Payment of Commercial Debts (Interest) Act 1998 is an Act of the United Kingdom Parliament enabling businesses to charge other business customers interest on overdue accounts and to obtain compensation. The Act extends to Scotland and Northern Ireland.

http://www.legislation.gov.uk/ukpga/1998/20/contents

[F15A Compensation arising out of late payment

(1)Once statutory interest begins to run in relation to a qualifying debt, the supplier shall be entitled to a fixed sum (in addition to the statutory interest on the debt).

(2)That sum shall be–

(a)for a debt less than £1000, the sum of £40;

(b)for a debt of £1000 or more, but less than £10,000, the sum of £70;

(c)for a debt of £10,000 or more, the sum of £100.

(3)The obligation to pay an additional fixed sum under this section in respect of a qualifying debt shall be treated as part of the term implied by section 1(1) in the contract creating the debt.]

pmduk

But the OP is acting as a business, surely?

earthstorm

pmduk wrote: »

But the OP is acting as a business, surely?

yes i was correcting antrobus as the 30 days they mention has nothing to do with the Late Payment of Commercial Debts (Interest) Act 1998

But if the OP does not pay then the plumber can send an LBA including the Late Payment of Commercial Debts (Interest) Act 1998 which for £900 will be £40 compensation then interest of 8.5% ( 0.5% Reference rate plus 8%)

bod1467

earthstorm wrote: »

yes i was correctting antrobus as the 30 days they mention has nothing to do with the Late Payment of Commercial Debts (Interest) Act 1998

But (as I read it) you weren't correcting him? You were just saying the same thing?

(The business part of things was already agreed - he already KNEW it wasn't a consumer debt).

earthstorm

bod1467 wrote: »

But (as I read it) you weren't correcting him? You were just saying the same thing?

(The business part of things was already agreed - he already KNEW it wasn't a consumer debt).

but he stated

The 30 days is from the Late Payment of Commercial Debts (Interest) Act 1998.

which is false

Slowhand

earthstorm wrote: »

but he stated



which is false

...move along this is a CONSUMER rights forum as has been pointed out.

(Text removed by MSE Forum Team)

earthstorm

(Text removed by MSE Forum Team)

i was never the one who brought up the Late Payment of Commercial Debts (Interest) Act 199, i just corrected the information with the CORRECT information , so guess who will be reported.