Overdue Invoice Interest Calculator
How much can you legally charge on a late invoice? Enter the due date and amount — get the statutory interest and fixed compensation you're entitled to claim.
How statutory invoice interest works
Under EU Directive 2011/7/EU (implemented across all 27 member states) and the UK Late Payment of Commercial Debts Act 1998, a creditor on a B2B invoice is automatically entitled to charge statutory interest on the overdue amount from the day after the due date — no court order required, no need to prove loss. The rate is reviewed and updated twice a year (January and July for the EU; continuously for the UK as the Bank of England moves its base rate).
On top of interest, you can add a fixed recovery compensation fee per invoice — €40 under the EU default, or £40 / £70 / £100 in the UK depending on the invoice amount. This is separate from any actual collection costs you may also recover. A contractual rate higher than the statutory rate replaces the statutory rate; a lower contractual rate is unenforceable.
If the statutory rate changed while your invoice was overdue (i.e., a new half-year rate period started between your due date and today), the calculator automatically splits the overdue period and applies each rate to its correct window.
Frequently asked questions
- What is this calculator for?
- If a customer hasn't paid your invoice by the due date, you're legally entitled to charge statutory interest and a fixed recovery fee — without going to court and without proving actual loss. Enter your invoice details to find out the exact amounts.
- How is the interest rate determined?
- The rate is set by law in each country. For EU member states it is typically the ECB reference rate plus 8 percentage points, reviewed every January and July. For the UK it is the Bank of England base rate plus 8 percentage points, updated whenever the Bank moves rates.
- What is recovery compensation?
- A flat minimum fee — €40 per invoice under the EU Directive, or £40 / £70 / £100 under UK law depending on invoice size — that you can add to your claim without proving any specific costs. It is in addition to interest.
- Can I charge more than the statutory rate?
- Yes, if your contract specifies a higher rate. The statutory rate is a floor. Use the full Late Payment Interest Calculator if you have a contractual rate to apply.
- What if the debtor is a government or public body?
- Public-authority debtors are covered by the same Directive but with different payment terms. Use the full Late Payment Interest Calculator and select 'Public authority' as the debtor type.
- Can I use this in my own app?
- Yes — every calculator on Stupidly Clever has a matching REST API and MCP tool that runs the same underlying logic.