Your results
- The debt of £87 was due on 23/Jun/2018 and is now 2141 days overdue.
- You are entitled to charge £43.38 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: 23/Jun/2018
- Invoice value: £87
- Reference rate for interest (on 23/Jun/2018): 0.5%.
- Statutory interest rate: 8.5% (0.5% base rate plus 8%)
- Debt: £87.
- Annual interest: £87 x 8.5% = £7.4 .
- Daily interest: £7.4 / 365 = £0.02 .
- Days overdue: 2141.
- Interest due: £43.38.