United Kingdom late-payment interest rate
UK statutory interest on qualifying commercial debts: the Bank of England base rate on the reference date (30 June for the second half-year, 31 December for the first), plus 8 percentage points. Fixed for the half-year. Derived live from this API's GB policy-rate series.
| Current value | 11.75 percent |
|---|---|
| In force from | 2026-01-01 |
| Official source | Derived from the Bank of England base rate (this API's GB policy-rate series) under the Late Payment of Commercial Debts (Interest) Act 1998, s.6 (half-yearly) |
| Last verified | 2026-07-20 |
| Verification | derived — Computed from another series we hold, not read from any document. Computed from another series we hold (reference rate plus the statutory margin), not read from a document. |
| Provenance | source fingerprint |
What this value means
UK statutory interest on qualifying commercial debts = Bank of England base rate + 8 percentage points (Late Payment of Commercial Debts (Interest) Act 1998; the 8pp margin is set by SI 2002/1674). The base rate is fixed for each half-year at 30 June (debts becoming late Jul-Dec) / 31 December (Jan-Jun); the Bank does not change Bank Rate on those dates, so the half-year snapshot equals the rate in force. Derived live from this API's policy-rate series.
Earlier values
| From | Value | Source |
|---|---|---|
| 2018-07-01 | 8.5 | Derived from the Bank of England base rate (this API's GB po |
| 2019-01-01 | 8.75 | Derived from the Bank of England base rate (this API's GB po |
| 2020-07-01 | 8.1 | Derived from the Bank of England base rate (this API's GB po |
| 2022-01-01 | 8.25 | Derived from the Bank of England base rate (this API's GB po |
| 2022-07-01 | 9.25 | Derived from the Bank of England base rate (this API's GB po |
| 2023-01-01 | 11.5 | Derived from the Bank of England base rate (this API's GB po |
| 2023-07-01 | 13 | Derived from the Bank of England base rate (this API's GB po |
| 2024-01-01 | 13.25 | Derived from the Bank of England base rate (this API's GB po |
| 2025-01-01 | 12.75 | Derived from the Bank of England base rate (this API's GB po |
| 2025-07-01 | 12.25 | Derived from the Bank of England base rate (this API's GB po |
Get it programmatically
curl https://euroref.dev/v1/gb/late-payment-interest
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://euroref.dev/v1/gb/late-payment-interest/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/gb/late-payment-interestOther United Kingdom series: policy interest rate · VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates