For UK limited-company suppliers
UK law lets you charge statutory interest and a fixed sum on every business invoice paid late — including invoices already paid, going back six years. Owed Interest finds what is owed and collects it. No win, no fee.
Send us a paid-invoices export from Xero, QuickBooks, FreeAgent or Sage. Within 48 hours you get a one-page report: the total, a split by customer, and the top invoices. Every figure traces back to an invoice date and the agreed terms.
You can leave a key account out. We do not write to anyone until you approve the letter and the list.
We send a polite claim letter with a statement of each invoice, then follow up at 14 and 28 days. The customer pays you directly. We never hold client money. We invoice our fee only after the money has arrived.
If a customer refuses, we hand the file back with practical next options, such as the Small Business Commissioner or your solicitor. We do not threaten court, and we do not give legal advice.
We take no cut of the original invoice, ever. If nothing is recovered, you pay nothing.
There are no sign-up fees, no charges added to the debtor, and no percentage of your principal.
Under the Late Payment of Commercial Debts (Interest) Act 1998, a business may claim, on a qualifying late commercial invoice:
The claim can include invoices that have already been paid, and it can look back up to six years.
This page is general information, not legal advice, and it is not a substitute for advice from a solicitor. Whether a particular invoice qualifies depends on the contract, the dates and the facts.
No. Owed Interest provides a calculation, a claim letter and collection follow-up. It does not advise you on your legal rights in a specific case and it does not replace a solicitor.
You may still be able to claim the interest and the fixed compensation. The fact that the principal has been paid does not, by itself, cancel the statutory sums.
That is why you choose the list. Many firms start with customers they no longer supply, or with accounts where the relationship is already strained, and leave their most important buyer out.
Our recovery service is for UK businesses. For email, we only write to limited companies and LLPs, which are corporate subscribers under PECR. Sole traders who find us themselves are welcome to get in touch.
From your invoice export and the agreed payment terms. Interest uses 8% over the Bank of England reference rate, plus the fixed compensation bands in the 1998 Act. We can show the working for every invoice.
A paid-invoices export (and, if it is not in the file, the payment terms for each customer). You stay in control of which letters go out.
We do not pursue invoices that were disputed or paid within terms. If a customer refuses a valid claim, we stop and give you the file, with options. We do not threaten court proceedings.
You do, after the recovered interest and compensation have reached your account, and only on those recovered sums.
Email a paid-invoices export from Xero, QuickBooks, FreeAgent or Sage, or write to us and we will tell you what to send. Within 48 hours you get a one-page report.
Email rikard@owedinterest.co.ukOwed Interest — privacy notice (B2B prospecting and clients)
This notice explains how Owed Interest uses personal data. It is written mainly for people we contact at UK companies, and for clients who use our service. It is not legal advice. A standalone copy is also at owedinterest.co.uk/privacy.
Owed Interest is a UK late-payment interest recovery service operated by Rikard Radmussen.
The controller is Rikard Radmussen, trading as Owed Interest. A limited company has not been formed.
Contact: rikard@owedinterest.co.uk, +44 7508 488716, owedinterest.co.uk.
An ICO registration number is coming soon.
For prospecting we typically hold:
We do not buy marketing lists. We do not use personal staff inboxes for a first email where a generic company address is available.
For clients who instruct us we also hold the invoice data you send us, correspondence about the claim, and the payment records needed to invoice our fee.
We use this data to tell relevant limited companies and LLPs about a statutory right they may already have, and to provide the service if they ask us to.
The lawful basis under UK GDPR is legitimate interests: it is in a supplier's interest to know about a possible claim, and in ours to offer that service, provided the email is accurate, restrained and easy to stop.
We only send unsolicited marketing email to corporate subscribers (limited companies and LLPs), as PECR allows. We do not send marketing email to sole traders or to other individual traders.
You can object at any time. A reply of "no", or any other clear opt-out, is enough. We will not email you again for this purpose.
Prospect records are kept for as long as they are needed for a possible follow-up, and in any event are reviewed at least once a year. If you opt out, we keep just enough information to honour that request. Client files are kept for as long as needed to complete the work and to meet tax and accounting requirements, then deleted or anonymised.
The service is run for UK businesses. The operator may at times access email and files from outside the UK, including Thailand. Where that happens, we take steps to keep the data secure.
We do not sell your data. We share it only with the tools we use to run the service (for example email hosting and, once set up, payment processing), or if the law requires it. We do not write to your customers unless you have approved the letter.
You can ask for a copy of the data we hold, ask us to correct it, object to our using it, or ask us to delete it, subject to the usual legal limits. To do that, or to opt out of emails, write to rikard@owedinterest.co.uk or reply "no" to our message.
You can also complain to the Information Commissioner's Office at ico.org.uk.
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