Free UK Business Tool

Late Payment
Interest Calculator

Calculate exactly how much statutory interest and fixed compensation you're owed on overdue B2B invoices — based on the Late Payment of Commercial Debts Act 1998.

11.75%

Current Rate

8% statutory + 3.75% BoE base rate

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Calculate Your Claim

B2B transactions only · Late Payment Act 1998

Invoice Amount (inc. VAT) *

£

Use the total amount including VAT

Invoice Date *

Payment Terms

Date Payment Received Leave blank if still unpaid — we'll calculate to today

Current statutory rate

11.75% p.a.

Include fixed compensation

£40–£100 per invoice under the Act

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Your Claim Summary

Days overdue

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Daily interest rate

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Statutory interest
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Fixed compensation
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Total you can claim

on top of the original invoice

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💷 Fixed Compensation Rates

⚖️ Late Payment Act 1998 — per invoice

Debt Amount	You Can Claim
Up to £999.99	£40
£1,000 – £9,999.99	£70
£10,000 or more	£100

📋 How It Works

Applies to B2B transactions only — not consumer sales
Interest runs from the day after payment was due
You can claim even if the invoice has now been paid
No contract needed — it's a statutory right
Send a separate invoice for the interest & compensation amount
You have up to 6 years to make a claim

Coming Soon

Stop chasing late payments manually

Billdocket helps UK tradespeople send professional invoices with automatic late payment reminders — so you get paid on time, every time.

⚠️ Disclaimer: This calculator is provided as a free guide for UK businesses. Results are based on the current Bank of England base rate (3.75%) giving a statutory rate of 11.75% p.a. Rates change periodically — always verify the current rate at GOV.UK before issuing a claim. This tool does not constitute legal or financial advice.