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Late Payment Calculator - Results

The debt of £1 was due on 03/Mar/2020 and is now 30 days overdue.

You are entitled to charge £0.01 in interest under the Late Payment of Commercial Debts [Interest] Act 1998 as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002.

Calculation details

Date payment became overdue: 03/Mar/2020

Invoice value: £1
Reference rate for interest (on 03/Mar/2020): 0.75%.
Statutory interest rate: 8.75% (0.75% base rate plus 8%)
Debt: £1.

Annual interest : £1 x 8.75% = £0.09.
Daily interest: £0.09 / 365 = £0
Days overdue: 30.
Interest due: £0.01.