TOOL • WORKING PROTOTYPE
Estimate late-payment interest, compensation and recovery wording.
Enter the invoice details below to estimate days overdue, interest, statutory compensation and a practical recovery letter draft.
CALCULATOR INPUTS
Add the invoice amount, due date and annual interest rate. The annual interest rate is entered manually so it can be checked before use.
LETTER OUTPUT
The draft updates as the calculator fields are completed. Review and adapt the wording before sending.
Dear [Customer name],
We are writing regarding invoice [Invoice number], which remains unpaid after its due date.
Once invoice details are entered, the estimated late-payment interest, statutory compensation and total amount will appear here.
Please arrange payment of the outstanding balance as soon as possible.
Kind regards,
[Your business name]
GUIDANCE
This tool is intended for commercial late-payment scenarios. Users should consider contract terms and whether statutory interest is appropriate.
GOV.UK describes statutory interest as 8% plus the Bank of England base rate for business-to-business transactions, unless a different contractual rate applies.
This calculator provides general information and a practical document draft. It does not replace legal or professional advice.