What the debtor pays. The full invoice plus fixed-sum compensation under the Late Payment of Commercial Debts (Interest) Act 1998 — £40 per invoice under £1,000, £70 from £1,000, and £100 from £10,000.
What you pay us. £11.50 in total — £2 for the reminder and £9.50 for the LBA. No success fee and no percentage of the principal or the statutory compensation.
What you pay the solicitor. £25.00 review fee plus VAT, paid to the reviewing solicitor, not to RobinReturn. For now you pay the solicitor directly.
What you take home. £4,853.50 — more than you originally invoiced, because the statutory compensation is yours to keep. Statutory interest is on top and depends on how long the invoice is overdue.
Late Payment of Commercial Debts (Interest) Act 1998 · s.5A