Late Payment of Commercial Debts (Interest) Act 1998: Primary legislation governing late commercial payments in England and Wales. Establishes statutory rights to claim interest (Bank of England base rate plus 8%) and defines when payments become 'late'
Late Payment of Commercial Debts Regulations 2013: Implements EU Directive 2011/7/EU into UK law, setting maximum payment terms and establishing rights to compensation for recovery costs
Limitation Act 1980: Sets statutory time limits for bringing claims, with a 6-year limitation period for simple contracts. Essential for determining if debt is still legally collectible
Financial Services and Markets Act 2000: Regulates debt collection activities and ensures compliance with financial services regulations in the UK
Consumer Credit Act 1974: Governs consumer credit and debt collection from individuals, providing specific protections for consumer debtors
General Data Protection Regulation (GDPR) and Data Protection Act 2018: Establishes requirements for handling personal data and privacy considerations in debt collection processes
FCA Guidelines: Financial Conduct Authority guidelines establishing best practices for debt collection and ensuring fair treatment of debtors
