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Late payment calculator.
Calculate statutory late-payment interest and compensation on overdue invoices under the Late Payment Act.
Total claim
£131
- Days late
- 38
- Interest rate
- 11.75%
- Statutory interest
- £61
- Fixed compensation
- £70
Planning tool only — not legal advice. Always check the signed contract, the staff handbook and current GOV.UK guidance, which override any figure shown here.
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Late payment calculator
Questions people ask
What interest can I actually charge on a late invoice?
For commercial debts the statutory rate is 8% above the Bank of England base rate, running from the day payment became late. You can also claim a fixed sum in compensation per invoice, which increases with the size of the debt. These apply unless the contract sets its own substantial remedy.
When does an invoice legally become late?
On the date agreed in the contract. Where nothing is agreed, the default is 30 days from delivery of the goods or service, or from the invoice, whichever is later. Agreed terms longer than 60 days between businesses can be challenged as grossly unfair.
Should I charge interest on a client I want to keep?
The calculation is useful even when you do not invoice for it. Knowing the figure gives you something concrete for the conversation, and stating that statutory interest is accruing often moves a payment on its own. Many practices calculate it, mention it and then waive it as a gesture once paid.