Invoice Late Payment Calculator

Calculate statutory late payment interest on overdue invoices using the UK Late Payment of Commercial Debts Act — Bank of England base rate + 8%.

Invoice amount (£)

Invoice date

Payment terms (days)

Today's date (or date of payment)

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Fill in the details to get your result.

How This Works

Statutory late payment interest rate = Bank of England base rate (currently ~5%) + 8% = ~13% per annum. Daily interest = invoice amount × annual rate ÷ 365 × days overdue. Fixed compensation also applies: £40 for invoices under £1,000, £70 for £1,000–£9,999, £100 for £10,000+. These rights apply to all B2B transactions regardless of contract terms (except agreed credit terms).

Yes — the Late Payment of Commercial Debts (Interest) Act 1998 gives you an automatic statutory right to claim late payment interest on B2B transactions, whether or not you mentioned it on your invoice. You don't need a contract clause. The right exists by law. However, if you agreed different payment terms in writing, those terms apply. Consumer-to-business transactions are not covered — this applies to business-to-business only.