In this issue
SFA Annual Subscription 2015
New SFA Strategy 2015-2020
National Economic Dialogue
Low Pay Commission recommends 50c Minimum Wage Increase
SFA Submission on Tax and Entrepreneurship
Late Payments Legislation - Interest Rate Change
Accrual of Annual Leave whilst on Sick Leave
Pregnancy at Work
Workplace Dress Code during the Summer Months
Company Summer Social Events
SFA Submission on Period of Bankruptcy
FibrePower Competition
SFA National Small Business Awards 2016 Programme
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SFA Employment Law Conference 2015 – 24th September
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SFA Annual Lunch – 6th November
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Late Payments Legislation - Interest Rate Change

Under the Late Payment in Commercial Transactions Regulations, interest at the rate of the European Central Bank rate plus 8% can be applied to payments made after a 30 day payment period has expired (in the absence of a written contract specifying an alternative payment period).  With effect from 1 July 2015 the late payment interest rate is 8.05% per annum (that is based on the ECB rate of 0.05% plus the margin of 8%). That rate equates to a daily rate of 0.022%. Penalty interest due for late payments should be calculated on a daily basis.

A copy of the SFA Guide on Late Payments can be downloaded by clicking here. 

A copy of the SFA template “Terms & Conditions of Trade” can be downloaded by clicking here

For specific queries on late payments, please contact the SFA, Tel: 01-605 1602/1626/1668 or e-mail: