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
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.