Calculator · Late payment
Late payment interest
Under the Late Payment of Commercial Debts (Interest) Act, you can charge a late B2B client the Bank of England base rate plus 8%, plus a fixed compensation fee (£40 / £70 / £100).
Days overdue30 days
Statutory interest (12.75% / yr)£26.20
Fixed compensation£70.00
Total now owed£2,596.20
Next step
Send a revised invoice itemising the interest and compensation. If still unpaid after 30 days, escalate via Money Claim Online.
How to use this result
Results are calculated in your browser from the values above and are displayed to two decimal places where currency is shown. Recheck source data, eligibility and current rules before acting on a business, tax or legal decision.