Ireland late payment interest calculator
Statutory late payment interest in Ireland is the ECB main refinancing rate in force on 1 January or 1 July plus 8 percentage points: 10.40% a year from 1 July 2026. It is simple daily interest (the rate divided by 365) from the day after the payment date until payment, plus €40, €70 or €100 compensation.
Calculator
The first row is an example. Replace it with your invoice, add more rows, or press Clear. Nothing you type leaves your browser.
| Amount outstanding (€) | Due date | Date paid, or calculate to | Your own yearly rate (%) | Remove |
|---|
Leave the last column empty to use the statutory rate. Fill it in only if your contract sets a rate: then that rate is used for the whole period instead.
Result
How the interest is worked out
- Find the payment date. It is the date in the contract. Where there is no contract, the Department gives 30 days after the purchaser receives the invoice.
- Count the days late, from the day after the payment date up to and including the day the payment is made (S.I. No. 580 of 2012, regulation 4(2)).
- Split those days at every 1 January and 1 July. The ECB rate in force on 1 January applies from 1 January to 30 June, and the one in force on 1 July applies from 1 July to 31 December (regulation 5(2)(b)). Add 8 percentage points to get the late payment rate for each half-year.
- For each part, multiply the amount owed by that half-year's rate and by the days in it, then divide by 365. The Department states the daily rate the same way: 10.4% divided by 365 days.
- Add the parts together, then round to the cent.
- Add compensation for recovery costs: €40 for an amount up to €1,000, €70 above €1,000 and up to €10,000, €100 above €10,000.
This is the main difference from the UK rule. In the UK the rate is fixed on the day interest starts. In Ireland it changes each half-year while the invoice stays unpaid, so a long delay can carry two or three rates. For a UK invoice, use the UK late payment interest calculator. If your own terms set a fee instead, such as a percentage per month or a flat fee, use the late fee calculator for invoices.
Limits
- The rules cover commercial transactions: between two undertakings, or between an undertaking and a public authority. An invoice to a private consumer is outside them.
- Regulation 5(1) sets this rate "unless otherwise specified in the contract". If your contract names a rate, put it in the last column of the calculator.
- The rate table starts on 16 March 2013. The calculator does not cover an invoice due before that date.
- The rate from 1 January 2027 is not set yet. For days after 31 December 2026 the calculator uses 10.40% and marks the result as an estimate.
- The calculator treats the amount as unpaid for the whole period. If the customer paid in parts, enter each part as its own row with the date it was paid.
- The calculator divides by 365 in every year, as the Department's daily rate does.
This is information, not legal advice. The Department says it does not provide legal advice either, so ask a solicitor if the debt is large or disputed.
A worked example
An invoice for €5,000 was due on 31 May 2026 and was paid on 31 August 2026. Interest runs from 1 June to 31 August, which is 92 days. The rate changed on 1 July, so the days are split in two.
| Period | Days | Rate | Sum | Interest |
|---|---|---|---|---|
| 1 to 30 June 2026 | 30 | 10.15% (ECB 2.15% + 8) | 5,000 x 0.1015 x 30 / 365 | €41.7123 |
| 1 July to 31 August 2026 | 62 | 10.40% (ECB 2.40% + 8) | 5,000 x 0.1040 x 62 / 365 | €88.3288 |
The two parts add up to €130.0411, which rounds to €130.04. The amount is above €1,000 and not above €10,000, so compensation is €70. The total is €200.04.
Using 10.40% for all 92 days would give €131.07, which is €1.03 too much. That is why the days have to be split.
Late payment interest rates since 2013
These are the figures the calculator uses, from the Department of Enterprise, Tourism and Employment's late payment interest rate page, checked on 14 November 2026. The late payment rate is the ECB main refinancing rate plus 8 percentage points.
| Applies to days from | ECB main refinancing rate | Late payment interest rate |
|---|---|---|
| 1 July to 31 December 2026 | 2.40% | 10.40% |
| 1 January to 30 June 2026 | 2.15% | 10.15% |
| 1 July to 31 December 2025 | 2.15% | 10.15% |
| 1 January to 30 June 2025 | 3.15% | 11.15% |
| 1 July to 31 December 2024 | 4.25% | 12.25% |
| 1 January to 30 June 2024 | 4.50% | 12.50% |
| 1 July to 31 December 2023 | 4.00% | 12.00% |
| 1 January to 30 June 2023 | 2.50% | 10.50% |
| 1 July to 31 December 2022 | 0.00% | 8.00% |
| 1 January to 30 June 2022 | 0.00% | 8.00% |
| 1 July to 31 December 2021 | 0.00% | 8.00% |
| 1 January to 30 June 2021 | 0.00% | 8.00% |
| 1 July to 31 December 2020 | 0.00% | 8.00% |
| 1 January to 30 June 2020 | 0.00% | 8.00% |
| 1 July to 31 December 2019 | 0.00% | 8.00% |
| 1 January to 30 June 2019 | 0.00% | 8.00% |
| 1 July to 31 December 2018 | 0.00% | 8.00% |
| 1 January to 30 June 2018 | 0.00% | 8.00% |
| 1 July to 31 December 2017 | 0.00% | 8.00% |
| 1 January to 30 June 2017 | 0.00% | 8.00% |
| 1 July to 31 December 2016 | 0.00% | 8.00% |
| 1 January to 30 June 2016 | 0.05% | 8.05% |
| 1 July to 31 December 2015 | 0.05% | 8.05% |
| 1 January to 30 June 2015 | 0.05% | 8.05% |
| 1 July to 31 December 2014 | 0.15% | 8.15% |
| 1 January to 30 June 2014 | 0.25% | 8.25% |
| 1 July to 31 December 2013 | 0.50% | 8.50% |
| 16 March to 30 June 2013 | 0.75% | 8.75% |
The next rate applies from 1 January 2027 and is not known yet. Until the Department publishes it, the calculator uses 10.40% for those days and says so in the result.
If your invoices are in Xero
Atesen Software, which publishes this guide, makes Lateby. It reads a Xero sales invoice export, works out the interest on every late invoice at the UK rate or at your own rate, and builds a Xero import file with one draft interest invoice per customer. It runs in your browser, the file is not uploaded and there is no Xero login. This calculator works without it.
The rate built into Lateby is the UK one. For Irish invoices, enter 10.40% as your rate. If an invoice was already late before 1 July 2026, check its figure with the calculator above, because the earlier days carry the earlier rate.
The free plan works out interest for every customer and makes the import file and notices for the first three customers in each batch. The Practice plan covers every customer and any number of Xero organisations for US$19 a month or US$190 a year. FOUNDING40 takes 40% off the first payment until 30 November, and you can get a full refund within 14 days. Details on the Lateby site.
Comparing tools for late payers? See software for managing overdue invoices in Xero.
To do it by hand in Xero, read how to calculate late payment interest in Xero and import it as draft invoices, or how to charge interest on overdue invoices in Xero.
Ways to work this out
| Way | What it is | Use it for |
|---|---|---|
| By hand | The six steps above with the rate table. Each half-year needs its own sum. | One invoice, or checking another tool. |
| The calculator the Department links to | The Department's rate page links to an interest calculator on the EU's Your Europe site. We have not tested how it treats a rate change part of the way through. | A second opinion from an official site. |
| This page | Splits the days by half-year, shows each period with its rate, adds compensation, takes several invoices and copies the result as CSV. Runs in your browser. | A few invoices, with the working shown. |
| Lateby | Reads a Xero sales invoice export and builds one draft interest invoice per customer. For Irish invoices you enter the rate yourself. | Every overdue invoice in Xero at once. |
Questions people ask
What is the late payment interest rate in Ireland now?
10.40% a year for days from 1 July to 31 December 2026. That is the ECB main refinancing rate of 2.40% plus 8 percentage points. The daily rate is 10.4% divided by 365, which is about 28 cent a day on €1,000.
Does it apply to invoices sent to consumers?
No. The Regulations cover commercial transactions between two undertakings, or between an undertaking and a public authority. The Department says they apply in both the public and private sector. An invoice to a private consumer is outside them.
When does late payment interest start in Ireland?
On the day after the payment date, and it runs until the day the payment is made. Where there is no contract, the Department gives the payment date as 30 days after the purchaser receives the invoice. You do not have to send a reminder first.
How much compensation can I claim for a late payment?
€40 for an amount up to €1,000, €70 for an amount above €1,000 and up to €10,000, and €100 for an amount above €10,000. Exactly €1,000 is €40 and exactly €10,000 is €70. The calculator adds it once for each late invoice.
Can a contract set a different late payment rate?
Regulation 5(1) sets the statutory rate "unless otherwise specified in the contract". If your contract names a rate, enter it in the last column and the calculator uses it for the whole period. This is information, not legal advice.
Sources, checked on 14 November 2026: Department of Enterprise, Tourism and Employment: late payment interest rate, compensation for recovery costs, late payment in commercial transactions and S.I. No. 580 of 2012, European Communities (Late Payment in Commercial Transactions) Regulations 2012. Atesen Software is independent and not affiliated with Xero, the Department or the European Central Bank. Xero is a trademark of Xero Limited. Questions: support@atesensoftware.com.