Can I charge interest on a late invoice in the UK?
When a business pays late, the supplier may charge statutory interest at 8 percentage points above the Bank of England base rate. The supplier is also entitled to a fixed sum for recovery costs: £40 for debts under £1,000, £70 up to £10,000 and £100 for larger debts. Unless otherwise agreed, payment is due 30 days after delivery or invoice.
Answer from NovaCopilot, legal.exploreworldai.com/en/fragor/fragat/uk-drojsmalsranta-foretag, checked 2026-10-01.
- Source
- Late Payment of Commercial Debts (Interest) Act 1998, legislation.gov.uk. Read
- Provision
- Late Payment of Commercial Debts (Interest) Act 1998 section 4 och 5A; Late Payment of Commercial Debts (Rate of Interest) (No. 3) Order 2002
- Object
- question:uk:uk-drojsmalsranta-foretag
- Source
- NovaCopilot
General information based on the legislation, not advice on an individual case.