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Late Payment Interest Calculator | Business Tools | Calcify

Late Payment Interest Calculator

UK law entitles you to charge 8% + Bank of England base rate on overdue invoices. Calculate what you're owed and generate a formal notice.

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Statutory Interest Calculator

Under the Late Payment of Commercial Debts (Interest) Act 1998, you can charge 8% + BoE base rate on overdue invoices between businesses.

Current BoE base rate: 4.25% (May 2025). Statutory rate = 8% + 4.25% = 12.25% per year.

Invoice amount (£)

Invoice due date

Client / debtor name

Your name / company

Invoice reference / number

This tool provides a template only. For contested debts or debts over £10,000 consider seeking legal advice. The Late Payment Act applies to commercial (business-to-business) transactions only, not consumer debts.