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Late Payment Interest Calculator UK
Under the Late Payment of Commercial Debts (Interest) Act 1998, you can charge business customers interest at 8% above the Bank of England base rate on late invoices, plus fixed compensation of £40, £70 or £100. Enter the invoice amount and dates to see what you can claim.
Statutory interest applies to business-to-business debts only. Type the current Bank of England base rate.
Track every invoice, not just oneThe Invoice Tracker flags overdue invoices and works out interest and compensation on all of them automatically.
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Questions
What's the late payment interest rate in the UK?
8% above the Bank of England base rate, for invoices to businesses.
How much compensation can I claim?
£40 for debts under £1,000, £70 from £1,000 to under £10,000, and £100 for £10,000 or more.
Can I charge interest to a private customer?
Statutory late payment interest doesn't apply to consumers.