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UK late payment interest calculator

Enter the unpaid invoice, how many days it's overdue, and the current Bank of England base rate. We'll show the statutory interest plus the fixed compensation fee you're entitled to.

Invoice amount (£)

Days overdue

BoE base rate (%)

Invoice value£2,000.00

Statutory interest (12.0% × 30 days)£19.73

Fixed compensation fee£70.00

Total now owed£2,089.73

Under the Late Payment of Commercial Debts (Interest) Act 1998, UK businesses can charge statutory interest on overdue B2B invoices at Bank of England base rate + 8%, plus a fixed compensation fee:

£40 fixed fee for debts under £1,000
£70 fixed fee for debts of £1,000–£9,999.99
£100 fixed fee for debts of £10,000 or more

If your contract specifies a different rate, that overrides the statutory rate (provided it's a "substantial" remedy). Statutory interest doesn't apply to consumer-to-business invoices.

Check the current Bank of England base rate at bankofengland.co.uk and update the field above.

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UK late payment interest calculator

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