HMRC interest rates are set in legislation and are linked to the Bank of England base rate. Late payment interest is set at base rate plus 2.5%. Repayment interest is set at base rate minus 1%, with a lower limit - or 'minimum floor' - of 0.5%. The differential between late payment ...
HMRC announces late tax rate cut.HMRC announces late tax rate cut.The article announces that interest rates for late payment of taxes will fall one percentage point to 6.5% from November 6, 2008, according to Her Majesty's Revenue & Customs (HMRC). In addition, interest rates on overpaid ...
Interest will be charged from 1 February on any outstanding liabilities. It should be noted that late-payment interest rates have recently been increased by HMRC. Currently HMRC interest rates are set in legislation and are linked to the Bank of England base rate. There a...