Free calculator
Late payment interest calculator
Enter the invoice amount, the ECB reference rate and the dates. You get the interest, the fixed compensation and the total you can claim.
Interest and compensation
€153.42
- Invoice amount
- €5,000.00
- Interest: 60 days at 10.15% (ECB 2.15% + 8%)
- €83.42
- Fixed compensation
- €70.00
- Total you can claim
- €5,153.42
Interest adds €1.39 for each further day.
Use the ECB main refinancing rate in force on 1 January (for a debt that falls late in January to June) or 1 July (July to December). The Central Bank of Ireland publishes it.
What you can claim
- Interest at the ECB reference rate plus 8 percentage points, simple, from the day after the due date.
- The ECB rate is the main refinancing rate on 1 January (for debts late in January to June) or 1 July (July to December).
- Fixed compensation for recovery costs on top: €40 under €1,000, €70 from €1,000 to under €10,000, €100 from €10,000.
- Payment is due within 30 days unless you agree otherwise; agreed terms over 60 days must not be grossly unfair.
| Invoice amount | Compensation |
|---|---|
| Under €1,000 | €40 |
| €1,000 to under €10,000 | €70 |
| €10,000 or more | €100 |
Last updated . This calculator is a guide, not tax advice.
Frequently asked questions
Which law sets late payment interest in Ireland?
The European Communities (Late Payment in Commercial Transactions) Regulations 2012 (S.I. 580/2012), for business-to-business and public-sector invoices.
Do I have to warn the customer first?
No. Interest runs automatically from the day after the due date. It still helps to say on the invoice that you charge it.
Can I charge it to consumers?
No. The regulations cover sales between businesses, and to public bodies.