Work out what a late invoice is actually worth, and what recovering it would cost, before you spend anything.
Statutory interest and the fixed compensation sum on a late business-to-business invoice, at the correct rate for the date the debt fell due — with the daily figure so you know what it is still adding.
Open it →What you would fund up front at each stage, what gets added to the debt and comes back to you if the debtor pays, and where the arithmetic stops working.
Open it →Most businesses never claim the statutory interest and compensation they are entitled to, usually because working it out is fiddly and nobody is sure the entitlement is real. It is real, it applies automatically to business-to-business supply contracts, and on an aged ledger it is frequently worth more than the cost of doing something about the debt.
You do not have to instruct us to use these. If the number they produce is enough to get your invoice paid by itself, that is a good outcome.
Statutory interest is 8% over the Bank of England base rate — but not today's base rate. The Act fixes the rate for six months at a time, using the rate in force at the reference date immediately before interest started running, and once set it does not move however many times the base rate changes afterwards. A debt that fell due in 2024 therefore still carries the 2024 rate today.
Most online calculators apply the current rate to every debt, which understates an older invoice. Ours holds the rate table by period and picks the correct one for the date your debt fell due. It also runs the day count from the day after the due date rather than from the invoice date, and it gives you the daily figure — which is the number actually worth quoting in a chase, because it turns delay into a running cost rather than an abstraction.
A statement you can print, save as a PDF, copy, or have emailed to yourself: the invoice, the interest at the correct rate with the day count shown, the fixed compensation sum, and the total claimable. That is the figure to put in a chase or a letter before action, and it is yours to use whether or not you ever speak to us.
The second tool answers a different question: not what you are owed, but what getting it would cost you. It separates the two things people routinely confuse — the money you fund up front, and the money that is added to the debt and comes back to you if the debtor pays. Court fees fall in the second category, which is why the gross cost of a claim badly overstates its real cost.
It deliberately does not quote our fee, because that depends on the stage, the number of debts and whether the debtor is a company or an individual. Inventing a number there to make the tool feel complete would be the wrong kind of helpful.
These calculate an entitlement, not a certainty. What you can claim and what you will collect are different numbers, and the gap between them is the debtor's ability to pay. Nothing here is legal advice.
Tell us what you are owed and who owes it. You get back what the debt is actually worth once interest and compensation are added, what we would do first, and the fixed fee for doing it.