# UK Statutory Interest Calculator MCP > UK Statutory Interest Calculator MCP calculates statutory interest and fixed compensation fees for late commercial payments in the UK. It automates the math required by the Late Payment of Commercial Debts Act 1998, giving you precise figures for debt recovery without manual spreadsheet work. ## Overview - **Category:** finance - **Price:** Free - **Tags:** uk-law, late-payment, interest-calculation, statutory-interest, debt-recovery ## Description The UK Statutory Interest Calculator MCP handles the math for late commercial payments in the UK. When a client owes you money and they're late, you need to know exactly what they owe you beyond the original invoice. Dealing with the UK's Late Payment of Commercial Debts Act 1998 usually means digging through spreadsheets to figure out the current Bank of England base rate, adding the 8% markup, and then checking the specific compensation brackets for different debt sizes. It's a headache that's easy to mess up, especially when you're dealing with dozens of different accounts. This MCP takes that math off your plate. You just tell your agent how much is owed and when it was due, and it handles the heavy lifting. It's built for people who need to get paid without the manual calculation errors that come from copy-pasting numbers between tabs. Because it's part of the Vinkius catalog, you can pull this into your existing workflow without setting up complex new infrastructure or writing custom scripts. It turns a multi-step math problem into a one-sentence request. Instead of spending ten minutes per invoice verifying rates and doing arithmetic, you get a precise answer in a few seconds. You get your money back faster and with more confidence that the numbers you're asking for are actually correct under UK law. ## Tools ### compensation_fee The compensation_fee tool calculates the fixed compensation fee. ### total_claim_summary The total_claim_summary tool calculates a full summary of the claim. ### accrued_interest The accrued_interest tool calculates statutory interest accrued on a debt. ## Prompt Examples **Prompt:** ``` Calculate the total claim for a debt of £500 that was due on 2024-01-01. ``` **Response:** ``` The total claim value is £535.42, which includes £35.42 in accumulated interest and a £40 fixed compensation fee. ``` **Prompt:** ``` How much compensation is owed for an unpaid invoice of £15,000? ``` **Response:** ``` The fixed statutory compensation amount for a debt of £15,000 is £100. ``` **Prompt:** ``` Show me the interest accrued on £2,000 since 2023-06-01. ``` **Response:** ``` The total interest accumulated since 2023-06-01 on a debt of £2,000 is £142.50. ``` ## Capabilities ### Calculate interest on overdue debts The MCP determines the statutory interest owed based on the Bank of England base rate plus 8%. ### Identify fixed compensation fees It identifies the correct compensation fee based on the size of the outstanding debt. ### Generate full claim summaries It produces a complete breakdown of interest, fees, and the total claim value. ### Automate UK debt math It applies the specific rules of the Late Payment of Commercial Debts Act 1998 automatically. ### Verify debt recovery totals It provides a single total value for the entire claim to simplify your final demand. ## Use Cases ### Calculating interest on a late invoice An AR clerk asks for the interest on a £2,000 debt from last month. The agent uses accrued_interest to give the exact amount. ### Finding the compensation fee for a large debt A debt agent asks for the compensation fee on a £15,000 invoice. The agent uses compensation_fee to find the fixed amount. ### Generating a final demand summary A business owner needs a full summary of a £5,000 debt to send a final notice. The agent uses total_claim_summary to provide a complete breakdown. ### Auditing a batch of late payments A legal clerk is auditing a batch of late payments. They ask for the total claim value for a list of debts. The agent calculates these values one by one. ## Benefits - Stop guessing on interest rates. The MCP uses the correct Bank of England base rate plus the 8% markup automatically. - Get accurate compensation fees instantly. It knows the specific brackets for different debt magnitudes so you don't have to look them up. - Reduce manual data entry errors. By letting your agent handle the math, you remove the risk of typos in your spreadsheets. - Speed up your collections process. You can generate a full summary of a claim in seconds rather than minutes of calculation. - Stay compliant with UK law. It follows the Late Payment of Commercial Debts Act 1998 rules to ensure your claims are grounded in the right logic. ## How It Works The bottom line is you get legally-grounded debt recovery figures in seconds instead of minutes of manual calculation. 1. Connect your AI client to the UK Statutory Interest Calculator MCP. 2. Provide the debt amount and the original due date to your agent. 3. Get a precise breakdown of interest, fees, and the total claim value. ## Frequently Asked Questions **What does the UK Statutory Interest Calculator MCP do?** It calculates interest and fixed fees for late UK commercial debts. **How does it calculate interest?** It uses the Bank of England base rate plus 8%. **Does it handle international debts?** No, it's specifically for UK statutory interest. **What is a compensation fee?** It's a fixed amount for late payments based on the debt size. **Can it give me a full summary?** Yes, it provides a breakdown of interest, fees, and the total claim. **Is the UK Statutory Interest Calculator compatible with Cursor?** Yes, it works with Cursor and other MCP-compatible clients. You just need to link it through Vinkius so your agent can access the tools. **Does the UK Statutory Interest Calculator save my debt details?** No, it doesn't save your data. It's a calculation tool that processes the numbers you put in the prompt and returns the result without keeping any records. **How does the `total_claim_summary` tool work?** It combines interest and compensation into one breakdown. Your agent uses it to give you a single total for the entire claim based on the debt size and age.