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Late Fee Calculator
See how much Interest and Compensation your business could be owed.Late Fees
Our Late Fee Calculator
Our Invoicey late fee calculator enables you to quickly estimate the amount of interest and compensation you are likely to receive per outstanding or unpaid invoice.Our Calculator
Calculation of Interest and Compensation for Overdue Invoices
The calculation is based on days-beyond terms i.e. the amount of days passed since the original balance was due. For instance, if your original invoice terms was 30 days then each day past this day would be classed as overdue.Our Invoicey calculator multiplies the overdue days to get an overall interest amount plus the fixed compensation fee depending on the amount per invoice. The fixed compensation fee you are entitled to depends on the value of the overdue invoice. For invoices below £1000 you can claim £40, invoices above £1000 but below £10,000 can claim £70, and invoices above £10,000 can claim £100 compensation.Interest can be charged at 8% plus the Bank of England base rate.
You can also claim for reasonable costs each time you try to recover the debt.
Interest accrues daily from the first day the invoice becomes overdue.
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Tired of chasing persistently late invoice payers?
We help businesses retrieve late fees arising from overdue and unpaid B2B invoices and implement effective credit control measures to get you paid on time.
We help businesses retrieve late fees arising from overdue and unpaid B2B invoices and implement effective credit control measures to get you paid on time.
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