Late payment interest calculator
Work out the statutory interest and fixed compensation you can claim on an overdue commercial invoice, under the Late Payment of Commercial Debts (Interest) Act 1998.
Legal basis: Late Payment of Commercial Debts (Interest) Act 1998.
Your invoice
Indicative statutory rate: 11.75% (Bank of England base rate 3.75% + 8 points). Confirm the current base rate before relying on it.
Estimate
Days overdue30
Principal£1,000.00
Interest£9.66
Fixed compensation£70.00
Total claimable£1,079.66
Compensation is the statutory £70.00 for a debt of this size, payable once per invoice. It applies to business-to-business debts only. This estimate is not legal advice.