If another UK business is late paying you, the law lets you add interest at the Bank of England Bank Rate plus 8 percentage points, and a fixed recovery sum. This page does the arithmetic. It does not send a letter or start a claim.
The calculator is free. Printing or saving the statement as PDF is £5 (honour system). Pay, then unlock. This page never sends a letter.
Pay £5 by UK bank transfer to Starling Personal: Andrew Skrzypiec-allen, sort code 60-83-71, account 44427708. Payment reference SENDTHIS. Then print/export. Honour system, same as now.
USDC on Base still accepted for people who already have it.
0x16287C70C13d3c535e96201B52879f988f2B11D5
Statutory interest is 8% plus the Bank of England base rate for business-to-business debts. It is simple interest, not compound. GOV.UK’s method is: yearly interest = invoice × rate; daily interest = yearly ÷ 365; then multiply by the number of days late.
This calculator uses Bank Rate 3.75% as published for September 2026 (held at the 30 July 2026 MPC meeting; next decision 17 September 2026), so the statutory rate is 11.75% a year. For 1 July–31 December the usual reference rate is the Bank Rate in force on 30 June, which was also 3.75%.
If you did not agree a payment date, the law treats the invoice as late 30 days after it is received (or after delivery, if later). Interest runs from the day after the due date. You cannot claim this statutory rate if the contract already sets a different interest rate (public authorities cannot be given a lower rate).
| Amount of debt | Fixed compensation |
|---|---|
| Up to £999.99 | £40 |
| £1,000 to £9,999.99 | £70 |
| £10,000 or more | £100 |
Compensation is a once-per-invoice recovery sum, not a daily charge. You may also be able to claim reasonable further recovery costs if the fixed sum does not cover them — this page does not estimate those.
Official pages:
This is software that does arithmetic. It is not legal advice, not a law firm, and not a collection service. Check GOV.UK (and a solicitor if the amount is material) before you rely on a figure. Nothing is stored on a server; it runs in your browser. No account.