---
title: "Statutory interest and fixed compensation on a late business invoice"
method: GET
path: "/api/v1/late-payment"
---

# Statutory interest and fixed compensation on a late business invoice

`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`

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.

## Query parameters

- `amount` number, required
- `due` string, required
- `paid` string

## Response `200`

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

## Other responses

- `400`: A bad amount or date
- `401`: Missing or wrong x-api-key
- `503`: The Bank's rate page couldn't be read; nothing charged

---

[API](https://skmtc.dev/meetkatalis/apis/katalis-uk-business-intelligence-apis.md) · [All operations](https://skmtc.dev/meetkatalis/apis/katalis-uk-business-intelligence-apis/llms.txt) · [OpenAPI document](https://skmtc.dev/meetkatalis/apis/katalis-uk-business-intelligence-apis/revisions/214b13088f95?raw)