The law lets UK businesses add 8% + Bank of England base-rate interest — plus fixed compensation — to any invoice paid late. Most never claim a penny of it.
How it works: statutory interest accrues daily from the day payment was due until the day it clears. It applies automatically — even when it isn't written into your contract.
Want a ready-to-send demand letter with these figures filled in?
One email with the demand-letter template. Nothing else — no spam.
Four rights most UK businesses never exercise on the invoices they're paid late.
8% plus the Bank of England base rate, accruing every day from the due date until the invoice is settled.
£40 under £1,000, £70 up to £10,000, £100 above — a flat sum you can claim on top of the interest.
You don't need late-payment terms in your contract. The entitlement is set by statute and applies by default.
In England & Wales the limitation period for a simple contract debt is generally six years — so old invoices may still count.
From a number on the screen to money back in the account.
Enter the invoice, the due date, and when (or if) it was paid. See interest and compensation itemised.
We email you a demand letter with your figures already filled in — ready to forward to the client.
Claim the invoice plus the interest and compensation the Act says is yours.
It's free to calculate and there's no account to create. If the number's worth chasing, we'll hand you the letter to chase it with.