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What is this invoice actually worth now?

Late commercial debt carries statutory interest and a fixed compensation sum. Most subcontractors never charge either. Enter the invoice and the final date for payment to see what you are owed today.

The last day they could pay on time. Interest runs from the day after.

This calculates the statutory entitlement under the Late Payment of Commercial Debts (Interest) Act 1998 for business-to-business debts. It is not legal advice. The rate is fixed against the Bank of England base rate in force on the preceding 30 June or 31 December, as the regulations require, not the rate today.

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Enter the invoice and the final date for payment. The rate, the fixed sum and the daily accrual are worked out on this device, nothing is sent anywhere.

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