Rates and sources
Checked 9 November 2026. Bank Rate is 4% from 5 November 2026. Statutory interest for the current half-year is 11.75%.
Statutory interest, recent periods
| Period | Reference date | Bank Rate | Statutory |
|---|---|---|---|
| 1 January 2023 – 30 June 2023 | 31 December 2022 | 3.5% | 11.5% |
| 1 July 2023 – 31 December 2023 | 30 June 2023 | 5% | 13% |
| 1 January 2024 – 30 June 2024 | 31 December 2023 | 5.25% | 13.25% |
| 1 July 2024 – 31 December 2024 | 30 June 2024 | 5.25% | 13.25% |
| 1 January 2025 – 30 June 2025 | 31 December 2024 | 4.75% | 12.75% |
| 1 July 2025 – 31 December 2025 | 30 June 2025 | 4.25% | 12.25% |
| 1 January 2026 – 30 June 2026 | 31 December 2025 | 3.75% | 11.75% |
| 1 July 2026 – 31 December 2026 | 30 June 2026 | 3.75% | 11.75% |
Bank Rate changes since 2022
- 5 November 20264%
- 18 December 20253.75%
- 7 August 20254%
- 8 May 20254.25%
- 6 February 20254.5%
- 7 November 20244.75%
- 1 August 20245%
- 3 August 20235.25%
- 22 June 20235%
- 11 May 20234.5%
- 23 March 20234.25%
- 2 February 20234%
- 15 December 20223.5%
- 3 November 20223%
- 22 September 20222.25%
- 4 August 20221.75%
- 16 June 20221.25%
- 5 May 20221%
- 17 March 20220.75%
- 3 February 20220.5%
Sources
- Bank of England official Bank Rate history
- Bank Rate increased to 4% — November 2026 Monetary Policy Summary
- GOV.UK: Interest on late commercial payments
- GOV.UK: Claim debt recovery costs on late payments
- Late Payment of Commercial Debts (Interest) Act 1998, section 5A
- Office of the Small Business Commissioner: interest calculator record
Earlier Bank Rate rows, back to 5 March 2009, are in lib/rates/bank-rate.ts. Income tax, National Insurance, SDLT, LBTT, LTT, and VAT are not in this release. When they are added, each rule will carry its tax year and an official source URL in the same style.
For guidance only. This is not financial advice, legal advice, or a mortgage offer. Check the original invoice, contract, or lender illustration before you rely on a figure.