Extracted from the debtor.
The Late Payment Act makes the debtor liable for our recovery costs. Adjust the invoice amount and age of the debt to see your ledger live.
Run the figures on your invoice.
Invoice size determines the base recovery rate; age adds a small surcharge. Everything is charged to the debtor.
| Principal | £5,000.00 |
| Statutory compensation | £70.00 |
| Statutory interest (12.5% p.a., 45 days) | £77.05 |
| Recovery costs (15%) | £750.00 |
| Total demanded from debtor | £5,897.05 |
| (less) Case management fee (3% of principal) | £0.00 |
| Remitted to you | £5,000.00 |
Estimate only. Final recovery costs are assessed per case under the Late Payment Act and may vary by complexity and debtor profile. Statutory interest is a daily figure; the bands here use the midpoint of each age window.
What the Act allows.
Statutory compensation
A fixed sum that attaches automatically to every qualifying late commercial payment. £40 on debts up to £999.99, £70 on debts up to £9,999.99, and £100 on debts of £10,000 and above. Payable by the debtor in addition to the principal.
Late Payment of Commercial Debts Regulations 2002, Regulation 5.
Statutory interest
The prescribed rate is eight per cent above the Bank of England base rate, fixed for six‑month reference periods. Interest runs from the date payment was contractually due and continues to accrue until the debt is paid.
Late Payment of Commercial Debts (Interest) Act 1998, Section 4.
Recovery costs
Reasonable costs of recovering the debt, to the extent they exceed the statutory compensation. The creditor is entitled to recover them from the debtor under the Regulations. Our fee is assessed per case and taken from this portion of the sum demanded.
Late Payment of Commercial Debts Regulations 2002, Regulation 5A.
Transparent at every size.
Tell us the invoice amount and the date it was due. We will assess without charge.
Submit a case