Statutory interest and fixed compensation on a late business invoice

Under the Late Payment of Commercial Debts (Interest) Act 1998, interest at 8% over the Bank Rate on the previous 30 June or 31 December (each half-year at its own rate), simple, by the day, from the day after the due date to the paid date (today if unpaid), plus the fixed compensation (£40 / £70 / £100 by the invoice's size). The Bank Rate is read from the Bank of England's page daily. 1 credit.

get/api/v1/late-payment

Request

  • Base URL: https://meetkatalis.com
  • URL: https://meetkatalis.com/api/v1/late-payment
  • Auth: API key in header x-api-key

Query parameters

amountnumber required

The invoice amount in pounds

duestring required

The date payment was due (YYYY-MM-DD)

paidstring

The date it was paid; leave out if unpaid

Response

invoice, late, daysLate, statutoryInterest, fixedCompensation, total, rate {pct, bankRatePct, basis}, periods[], perDay, currentStatutoryRatePct, reading, bankRateReadAt

Changes

No recorded changes to this operation across all 1 revision of this API.