Late Payment Invoice Template for Ireland

The Late Payment Invoice is a specialized financial document used in Irish business transactions when there is a need to formally document payment obligations and establish clear consequences for late payment. This document type emerged from the European Communities (Late Payment in Commercial Transactions) Regulations 2012, which implemented EU Directive 2011/7/EU in Ireland. The Late Payment Invoice combines standard invoice elements with specific legal requirements, including statutory interest rates (ECB rate plus 8%), compensation for recovery costs, and payment terms. It's particularly useful in business-to-business transactions where managing cash flow and ensuring timely payment is crucial. The document must comply with both Irish VAT regulations and EU late payment legislation, making it a robust tool for businesses to manage their accounts receivable and enforce payment terms.

1. Invoice Header: Company details including business name, address, registration number, and VAT number of both parties

2. Invoice Reference: Unique invoice number, date of issue, and any relevant purchase order numbers

3. Service/Product Details: Clear description of goods/services provided, including quantity, unit price, and total amount

4. Payment Terms: Due date, payment methods, and late payment interest rate (ECB rate plus 8% as per Irish regulations)

5. Calculation Section: Subtotal, VAT calculation (if applicable), and total amount due

6. Bank Details: Full banking information for electronic transfer or other payment methods

7. Legal Notice: Statement regarding late payment interest and recovery costs as per EU Late Payment Directive