§ StatuteRates

UK Statutory Interest on Late Commercial Payments

United Kingdom  What UK businesses can charge on overdue B2B invoices.

Current rate
11.75% per year, effective July 1, 2026
Formula value

Follow recorded updates to this rate (RSS)

UK Statutory Interest on Late Commercial Payments at a glance

Current rate
11.75% per year
Effective date
July 1, 2026
Controlling authority
See cited source
Rate basis
Formula value
Source checked
August 25, 2026
Recorded history
23 data points

Under the Late Payment of Commercial Debts (Interest) Act 1998, a UK business can charge statutory interest on an overdue commercial (B2B) invoice at the Bank of England base rate plus 8 percentage points. Crucially, the rate is fixed for six-month periods using the base rate in force on 31 December (for debts in Jan–Jun) or 30 June (for Jul–Dec) — not the live base rate. This page applies that rule and shows the history so you can pick the right rate for the period your debt fell due.

→ Calculate interest at this rate

How this value is derived. Derived: UK statutory interest on late commercial (B2B) debts = the Bank of England base rate in force on the reference date (2026-06-30: 3.75%) + 8 percentage points, fixed for this six-month period under the Late Payment of Commercial Debts (Interest) Act 1998. Reference, not legal advice.

Effective-date history

23 data points on record. All recorded observations are in the JSON API.
Effective dateRateBasis
July 1, 2026 11.75% Formula
January 1, 2026 11.75% Formula
July 1, 2025 12.25% Formula
January 1, 2025 12.75% Formula
July 1, 2024 13.25% Formula
January 1, 2024 13.25% Formula
July 1, 2023 13% Formula
January 1, 2023 11.5% Formula
July 1, 2022 9.25% Formula
January 1, 2022 8.25% Formula
July 1, 2021 8.1% Formula
January 1, 2021 8.1% Formula
July 1, 2020 8.1% Formula
January 1, 2020 8.75% Formula
July 1, 2019 8.75% Formula
January 1, 2019 8.75% Formula
July 1, 2018 8.5% Formula
January 1, 2018 8.5% Formula
July 1, 2017 8.25% Formula
January 1, 2017 8.25% Formula
July 1, 2016 8.5% Formula
January 1, 2016 8.5% Formula
July 1, 2015 8.5% Formula

Source & provenance

Observation recorded August 25, 2026 (02:50 UTC) from the cited source (Bank of England):
https://www.bankofengland.co.uk/boeapps/database/_iadb-fromshowcolumns.asp?csv.x=yes&Datefrom=01/Jan/2015&Dateto=now&SeriesCodes=IUDBEDR&CSVF=TN&UsingCodes=Y&VPD=Y&VFD=N

Cite this page

StatuteRates. “UK Statutory Interest on Late Commercial Payments.” StatuteRates.com. Accessed today. https://statuterates.com/rates/uk-late-payment-commercial/ Value effective July 1, 2026.

Reference data only — not legal, tax, or financial advice. Always confirm the controlling value against the controlling official source and, where applicable, the governing statute or court before relying on it.