Gibraltar Late Payment Interest Calculator
Calculate statutory and contractual late payment interest on overdue Gibraltar invoices and judgment debts.
Total amount due
GB£5,040
Days overdue0
Interest accruedGB£0
Fixed late-payment compensationGB£40
Statutory rate applied11.8%
Calculating statutory interest on an overdue Gibraltar invoice
Gibraltar has its own Late Payment of Commercial Debts (Interest) Act 2003, closely modelled on the UK's equivalent 1998 Act, so a genuine statutory right to interest on overdue commercial debts exists — it isn't just a matter of what's written into your contract. This calculator applies the current mechanism to work out interest owed on a late payment.
What this calculator uses
- An annual interest rate currently modelled at 11.75%, based on the Bank of England base rate of 3.75% (as held on 30 July 2026) plus the standard 8 percentage point statutory margin used under this style of legislation
- A fixed compensation amount of £40 for late payment on smaller debts, following the same tiered approach used under the equivalent UK legislation
- The number of days the payment is overdue, applied to the outstanding invoice amount
- A note that Gibraltar's own officially published reference rate and margin under its 2003 Act could not be independently confirmed at the time of writing, so this uses the UK-adjacent convention as the best available basis pending confirmation from Gibraltar's own sources
