Late payment interest calculator
Work out the statutory interest and fixed compensation you can claim on a late invoice.
Enter the invoice amount and the date it was due.
How it is worked out
Under the Late Payment of Commercial Debts (Interest) Act 1998, you can charge interest at 8% above the Bank of England reference rate, for every day the invoice is late.
amount × (8% + reference rate) × days late ÷ 365
This applies between businesses when your contract does not set its own late payment interest. It is a guide, not legal advice.
| Under £1,000 | £40.00 |
| £1,000 to £9,999.99 | £70.00 |
| £10,000 or more | £100.00 |