Late payment interest calculator

Work out the statutory interest and fixed compensation you can claim on an overdue business invoice.

Late payment interest calculator

Use the base rate in force on 30 June or 31 December before the debt fell due.

You could claim

£0.00

Days overdue
0 days
Statutory rate
0%
Interest per day
£0.00
Interest to date
£0.00
Fixed compensation
£0.00

This calculator gives an estimate, not legal advice. Fixed compensation is £40 for debts under £1,000, £70 up to £9,999.99, and £100 for £10,000 or more.

What you can claim

The Late Payment of Commercial Debts (Interest) Act lets you add these to any overdue business invoice.

8% + base rate

Statutory interest a year

£40 / £70 / £100

Fixed compensation by invoice value

Reasonable costs

Recovery costs where compensation doesn’t cover them

How the figures are worked out

Working out late payment interest on an overdue invoice

Daily interest, plus compensation

Interest = (8% + Bank of England base rate) ÷ 365 × the number of days the invoice is overdue. The base rate to use is the one in force on 30 June or 31 December before the debt fell due.

Fixed compensation is added once per invoice: £40 for debts under £1,000, £70 up to £9,999.99, and £100 for £10,000 or more. If your recovery costs are higher, you can claim the reasonable difference.

Hand the chasing over to us

Send us the overdue invoice today. We check the debtor’s credit for free, start contact straight away, and you only pay commission on what we collect.