This is a calculator for UK businesses that need to work out how much statutory interest and compensation to charge on late payments in the UK. Interest is charged on late payments that are 30 days late or more. Historical Bank of England base rates are built in to the application all the way back to August 2002. Any future BoE rate change will be updated accordingly. Information and help is included in the app. The results can be emailed for your own reference.
Developer Website: http://itunes.apple.com/us/app/late-pay-calc/id369928615?mt=8