UK Statutory Interest Calculator
Under the Late Payment of Commercial Debts (Interest) Act 1998 you're legally entitled to interest plus a fixed compensation amount on overdue B2B invoices. This calculator does the maths and gives you copy-paste wording.
Invoice amount£3,500.00
Statutory interest (30d × 12.5%)£35.96
Fixed compensation£70.00
Total recoverable£3,605.96
Copy-paste wording for your chase
Under the Late Payment of Commercial Debts (Interest) Act 1998, we are entitled to claim £35.96 in statutory interest (30 days at 12.5% per annum) plus £70.00 in fixed compensation, bringing the total payable to £3,605.96.
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Estimate only — not legal or accounting advice. Verify with a qualified professional.