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HMRC cuts interest rate for underpaid corporation tax

30 March 2020
Issue: 4738 / Categories: News

On 19 March, the Bank of England cut the base rate for the second time in a week, reducing it to 0.1%.

In response, HMRC had decreased the interest charge on underpaid quarterly corporation tax instalment payments to 1.25% from 1.75%. 

Interest paid on overpaid quarterly instalments and on early corporation tax payments is 0.5% – unchanged since September 2009.

All other interest rates for over and underpaid tax are the same.

HMRC interest rates: tinyurl.com/hmrcintrate320

Issue: 4738 / Categories: News
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