Skip to content
Cost control made easy for UK subcontractors A subsidiary service of QS and Estimating Consultants Ltd (opens in a new tab)
Start a QS retainer

QS tool 04

Late Payment Interest Calculator

Estimate simple daily interest on an overdue construction payment, with an optional statutory compensation amount for qualifying business debts.

Best used for: Use this only for an overdue sum after entering the interest rate that actually applies.

Calculated in this browser. Nothing is saved by this tool.

For a qualifying statutory business debt, use the Bank of England rate fixed for the relevant six-month period plus 8 percentage points. The result adds the statutory £40, £70 or £100 compensation band. If the contract provides a different substantial remedy, choose contractual and enter the applicable components; no statutory compensation is then added.

Ongoing QS control

Send us the application, variation, subcontract or final account. We will tell you what needs doing first and what it will cost for us to help.

Discuss a monthly retainer