Free Online Tool

Late Payment Interest & Fee Calculator

Calculate statutory interest, daily late charges, and recovery fees for overdue client invoices.

Invoice Amount ($)

Days Overdue

Annual Interest Rate (%)

Fixed Statutory Debt Recovery Fee ($)

Calculation Breakdown

Original Invoice: $2,500.00

Daily Interest Charge: $0.55 / day

Accrued Interest (30 Days): $16.44

Statutory Recovery Fee: $40.00

New Total Owed: $2,556.44

Copy-Paste Payment Demand Email

The default 8% rate and 40 fixed fee follow the UK's Late Payment of Commercial Debts legislation, which is a useful starting point but not universal. Statutory interest rates, recovery fees and the currency they are set in vary by country and are often overridden by the payment terms in your own contract. Enter the figures that apply to your agreement and jurisdiction. This calculator is a general estimate, not legal or financial advice.

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