Work out exactly what you're legally owed on an overdue invoice — statutory interest plus compensation, calculated instantly under UK law. Nothing you enter is ever stored.
Under the Late Payment of Commercial Debts (Interest) Act 1998, UK businesses are automatically entitled to charge statutory interest on overdue B2B invoices — you don't need it written into your contract. The rate is the Bank of England base rate plus 8%, applied daily from the day after the payment was due.
On top of interest, you're also entitled to a fixed compensation fee for the cost of chasing payment: £40 for debts under £1,000, £70 for £1,000–£10,000, and £100 for anything larger.
This calculator covers commercial (B2B) debts under UK law and is provided for convenience, not legal advice — consumer debts follow different rules, and if a payment dispute is heading anywhere formal, a professional's guidance is worth getting.
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