UK statutory late payment interest calculator
For a late invoice between two businesses under the Late Payment of Commercial Debts (Interest) Act 1998. Free, no sign-up, nothing is stored.
How it is worked out
- Interest runs from the day after the due date, at 8% plus the Bank of England base rate.
- The base rate is the one in force on 31 December (for interest starting January to June) or 30 June (July to December). It stays fixed for the whole debt.
- Simple interest, per day, on a 365-day year.
- Compensation is a fixed sum per invoice: £40 under £1,000, £70 from £1,000 to £9,999.99, £100 from £10,000.
Invoice through Stripe?
Duebill does this every morning for every late Stripe invoice and drafts the claim for you to approve.
Join the waitlist