UK Commercial Law Calculator

UK Statutory Late Payment Interest Calculator

Calculate legal interest and fixed statutory compensation owed to your business under the UK Late Payment of Commercial Debts (Interest) Act 1998.

🧮 Invoice Details

Overdue Invoice Principal (£ GBP)

Number of Days Overdue

Counted from payment due date (typically 30 days after invoice).

Bank of England Base Rate (%):

+ 8.0% statutory rate =12.50% annual

⚖️ Statutory Compensation Owed

Original Principal:£2,500.00

Statutory Interest (12.5% / 30 days):+£25.68

Statutory Debt Recovery Fee:

Fixed by UK legislation

+£70.00

Total Claim Amount:£2,595.68

Statutory Notice Text

Pursuant to the Late Payment of Commercial Debts (Interest) Act 1998, statutory interest at the rate of 12.5% per annum (Bank of England base rate of 4.5% plus 8.0% statutory rate) has accrued on overdue invoice principal of £2,500.00. As of today (30 days overdue), accrued statutory interest amounts to £25.68, plus statutory debt recovery compensation of £70.00, bringing the total sum currently due to £2595.68. Please settle this balance within 7 business days to avoid formal county court proceedings.

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