Did you know that you can claim interest if another business is late paying you? You have statutory rights to claim interest and the Late Payment of Commercial Debts (Interest) Act 1998 ensures that you get compensated.

Use our late payment interest calculator to work out how much you can legally add to the bill.

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As well as claiming interest, did you know that you can also charge a business a fixed amount for the cost of recovering a late commercial payment?

The amount you’re allowed to charge depends on the amount of debt.

See our chart below

Late Payment Fees

Debt Owed: Up to £999.00

You can charge: £40

Debt Owed: £1,000 to £9,999.99

You can charge: £70

Debt Owed: £10,000 or more

You can charge: £100