Recover every penny you’re owed when clients miss their payment deadlines. Under the Late Payment of Commercial Debts (Interest) Act 1998, you’re entitled to statutory interest and a fixed compensation fee on commercial invoices that go unpaid. Yet working out exactly what you can claim, and presenting it professionally, can be tedious and prone to error.
Our Late Payment Calculator does the heavy lifting for you. Simply enter the total invoice value (including VAT if applicable), the date the payment became overdue and the date it was finally settled (or leave the payment date blank if it remains outstanding). In an instant, you’ll see:
- Statutory interest calculated daily at the Bank of England base rate plus 8%
- Fixed compensation for debt recovery costs (£40 for debts up to £999.99; £70 for debts between £1,000 and £9,999.99; £100 for debts of £10,000 and above)
- Total recoverable amount, combining your original invoice, accrued interest and compensation
Late Payment Interest Calculator
Calculate statutory interest due on late invoices under the Late Payment of Commercial Debts Act.
Interest Calculation
| Days Late | |
|---|---|
| Statutory Rate (%) | |
| Interest Due (£) | |
| Total Amount (£) |
This calculator uses the current Bank of England base rate. For complex payment terms, bespoke contractual clauses or large‑scale commercial arrangements, consult a legal expert or your finance advisor to ensure compliance with all statutory and contractual requirements.