Late Payment Interest Calculator (EU 2011/7/EU)
Work out what a late B2B invoice now owes under the EU Late Payment Directive: statutory interest for the days it has been overdue, plus the fixed recovery compensation the creditor is entitled to on top.
The rule, exactly
Article 2(6) of the Directive sets the statutory rate at the reference rate plus at least eight percentage points. Interest runs from the day after the payment due date, and the reference rate is the one in force on the first calendar day of the half-year:
interest = amount · (reference + margin)/100 · days/365
Enter the rate yourself — this page does not hold one. For euro-area Member States the reference rate is the ECB main refinancing rate on 1 January or 1 July; outside the euro area it is the equivalent national central bank rate. It changes twice a year in 27 countries and several Member States set a margin above the eight-point floor, so a rate baked into a static page would be wrong twice a year while still looking authoritative. Article 6 adds a fixed recovery sum of at least €40 per invoice, which is due automatically and without a reminder.
An arithmetic aid, not legal advice. National implementations differ on the margin, on the recovery sum above the €40 floor, and on what counts as the due date where none was agreed. Contractual terms may also apply. Check the transposing law of the country whose rules govern the contract before relying on a figure in a demand.