Skilful DesignersLate payment interest on a £1,500 invoice
A £1,500 business invoice earns £0.48 a day in statutory interest at 11.75%, plus £70 fixed compensation. Thirty days late, you can claim £84.49.
Worked out with the Late payment interest calculatorUpdated
Open this in the late payment interest calculator
£1,500 × 11.75% ÷ 365 = £0.483 a day
What you can claim, by days late
| Days late | Interest | + compensation | Total claim |
|---|---|---|---|
| 7 | £3.38 | £70 | £73.38 |
| 14 | £6.76 | £70 | £76.76 |
| 30 | £14.49 | £70 | £84.49 |
| 60 | £28.97 | £70 | £98.97 |
| 90 | £43.46 | £70 | £113.46 |
| 180 | £86.92 | £70 | £156.92 |
| 365 | £176.25 | £70 | £246.25 |
Figures use the 3.75% reference rate for invoices that became overdue between 1 July and 31 December 2026. For invoices that become overdue from 1 January 2027, the reference rate is the Bank Rate on 31 December 2026 (4% after the 5 November 2026 rise, unless the Bank changes it again on 17 December). Interest is simple, not compound, and runs from the day after payment was due until the day you are paid. You can also claim reasonable recovery costs above the fixed sum if chasing the debt cost you more.
How to claim it
- Send a reminder that states the amount owed, the interest accruing per day (£0.48) and the £70 compensation.
- Follow up with a formal letter before action if it's still unpaid. The guide to chasing late payments has the wording.
- For a final invoice with interest added, use the invoice generator.
Source: GOV.UK late commercial payments guidance. This is general information, not legal advice.
Nearby values
Frequently asked questions
How much interest can I charge on a £1,500 late invoice?
£0.48 a day at the statutory rate of 11.75% (8% plus the 3.75% Bank of England reference rate). After 30 days that is £14.49, plus £70 fixed compensation: £84.49 in total.
What fixed compensation applies to a £1,500 debt?
£70. The fixed sum is £40 for debts under £1,000, £70 from £1,000 to £9,999.99 and £100 for £10,000 or more. You can claim it once per invoice, on top of the interest.
Does this apply if my client is an individual?
No. Statutory late payment interest only applies between businesses, including sole traders. For private customers you can only charge interest if your contract or terms say so.
Which base rate should I use?
3.75% for invoices that became overdue between 1 July and 31 December 2026. For invoices that become overdue from 1 January 2027, the reference rate is the Bank Rate on 31 December 2026 (4% after the 5 November 2026 rise, unless the Bank changes it again on 17 December).
Cite this page
Skilful Designers. “Late payment interest on a £1,500 invoice.” https://skillfuldesigners.co.uk/late-payment-interest-calculator/1500/ (updated 10 November 2026).