Bank of England Reference Rate for Late Payment Interest

Look at when the interest started — the day after the due date. January–June uses Bank Rate on the previous 31 December; July–December uses Bank Rate on 30 June. From the Bank of England's Bank Rate history: 31 December 2024 was 4.75%, 30 June 2025 was 4.25%, 31 December 2025 was 3.75% and 30 June 2026 was 3.75%. So interest starting January–June 2026 is 11.75%, and July–December 2026 is also 11.75%.

Interest starting in 2027 will use Bank Rate on 31 December 2026, which isn't known yet; Latetally uses the current rate and flags those invoices as provisional.

Last reviewed 2026-11-04. General information, not legal advice.