Late Payment Interest Calculator UK | Commercial Debts Act 1998 | Free Tool
Freelance Credit Control - Late Payment Calculator for UK Businesses

FREELANCE CREDIT CONTROL

Late Payment Calculator

Calculate statutory interest and compensation on overdue invoices under UK law

⚠️ Jurisdiction Notice: This calculator applies to debts governed by English law only, under the Late Payment of Commercial Debts (Interest) Act 1998.
Current Rate: 4.75% (BoE Base) + 8% (Statutory) = 12.75% per annum

About This Late Payment Calculator

Compensation Rates: £40 (debts under £1,000) | £70 (£1,000-£9,999.99) | £100 (£10,000+)

Under the Late Payment of Commercial Debts (Interest) Act 1998

This free calculator helps UK freelancers, contractors, and businesses calculate statutory interest on late invoice payments. The Late Payment of Commercial Debts (Interest) Act 1998 gives businesses the legal right to claim interest and compensation when commercial debts are paid late. Our tool automatically applies the current Bank of England base rate plus 8% statutory addition, ensuring accurate calculations for debt recovery and credit control.

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