A Chaser alternative for the late payment maths
Credit control software chases invoices for you. If you just need the statutory interest and compensation figures, you can do that in a browser.
| Latetally | Chaser | |
|---|---|---|
| What it does | Works out statutory interest, compensation and claim statements from your list | Automated reminders, payment portal and credit control |
| Data | Stays in your browser | Connected to your accounting software |
| Price | Free: interest, compensation and the claim per customer, with every flag. Pro: $7 for 7 days, $9/month or $49/year. | Plans from £199 a month (pricing page, checked 2026-11-04) |
Honest take: if you need ongoing automated chasing, use credit control software. Latetally is for working out what you can add to invoices that are already late.
FAQ
Is my data uploaded?
No. Your files are read by JavaScript in your browser tab and never sent to us or anyone else. Invoices aren't stored, so closing the tab clears them. Your payment terms and compensation choice can be saved in this browser if you ask; your business name never is.
What rate does Latetally use?
8% plus the Bank of England reference rate. The reference rate is Bank Rate on 31 December (for interest starting January to June) or 30 June (July to December), and it stays fixed for that invoice. For example, an invoice due in August 2026 uses 3.75% from 30 June 2026, so 11.75% a year.
How is the interest worked out?
Simple interest, not compound: amount × annual rate × days late ÷ 365, from the day after the due date to the day it was paid (or the date you choose), rounded to the penny for each invoice.
How much compensation can I claim?
A fixed sum once per invoice: £40 if it's under £1,000, £70 if it's £1,000 to £9,999.99, and £100 if it's £10,000 or more. You can also claim reasonable extra recovery costs on top, which Latetally doesn't calculate.
When can't I claim statutory interest?
When your contract sets its own late payment interest rate, when the customer is a consumer rather than a business, or when the debt is too old (generally six years). Latetally flags old debts but can't read your contract.
What if there's no due date?
Where none was agreed, the default under the Act is 30 days after the later of the customer receiving the invoice or the goods or services. Latetally uses the invoice date plus your default terms (30 days unless you change it), and flags those invoices.
What's free?
Total interest, compensation and the claim per customer for any number of invoices, every flag, 3 what-ifs and 5 invoices on screen and in print (with a footer). Pro shows every invoice and every what-if and adds a statement for each customer, the Excel workbook and CSV exports.
Is this legal advice?
No. Latetally does the arithmetic from gov.uk's published rules on the invoices you enter. For disputes or court claims, take advice.