Late payment of wages

[philw]

Having chatted informally to a solicitor friend (who, I hasten to add does not specialise in employment law, so on his own admission it may be incorrect,but he still suggested I raise this point...), it seems that anybody who has not been paid correct wages should investigate whether the following legislation applies (he believes that it does!)....

The Late Payment of Commercial Debts (Interest) Act 1998, as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002.

According to this, he believes, any wages paid late should have an 8.5% interest payment added. It should be noted that Reed invoke this if they are paid late!

[hantsman]

Having chatted informally to a solicitor friend (who, I hasten to add does not specialise in employment law, so on his own admission it may be incorrect,but he still suggested I raise this point...), it seems that anybody who has not been paid correct wages should investigate whether the following legislation applies (he believes that it does!)....

The Late Payment of Commercial Debts (Interest) Act 1998, as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002.

According to this, he believes, any wages paid late should have an 8.5% interest payment added. It should be noted that Reed invoke this if they are paid late!

no, if you were awarded your money by the ET there would be no 8.5% added.

[Verging]

Having chatted informally to a solicitor friend (who, I hasten to add does not specialise in employment law, so on his own admission it may be incorrect,but he still suggested I raise this point...), it seems that anybody who has not been paid correct wages should investigate whether the following legislation applies (he believes that it does!)....

The Late Payment of Commercial Debts (Interest) Act 1998, as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002.

According to this, he believes, any wages paid late should have an 8.5% interest payment added. It should be noted that Reed invoke this if they are paid late!

no, if you were awarded your money by the ET there would be no 8.5% added.

Any idea if that is 8.5% added instantly or after so many days or is it an APR of 8.5% so becomes pro-rata on number of days late?

[philw]

Any idea if that is 8.5% added instantly or after so many days or is it an APR of 8.5% so becomes pro-rata on number of days late?

If it is applicable,I understand that it would be a simple 8.5% added immediately after the payment becomes due.

[Verging]

Any idea if that is 8.5% added instantly or after so many days or is it an APR of 8.5% so becomes pro-rata on number of days late?

If it is applicable,I understand that it would be a simple 8.5% added immediately after the payment becomes due.

Ouch!!!

[philw]

If it is applicable,I understand that it would be a simple 8.5% added immediately after the payment becomes due.

What I should have added though is that this only comes into force if you have not been informed in writing [not by email] that your pay will be late.