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HMRC interest rates hiked

11 November 2022
Issue: 4865 / Categories: News

HMRC is increasing interest rates for late payments for most taxes, after the Bank of England’s decision to increase the base rate to 3%.

From 14 November 2022, the rate for late paid corporation tax quarterly instalment payments is 4%, while the rate paid on overpaid quarterly instalment payments and on early payments of corporation tax not due by instalments increases to 2.75%.

The new rate for other late paid taxes is 5.5% and repayment interest rate rises to 2%. These take effect from 22 November 2022.

HMRC interest rates: tinyurl.com/hmrcinterest

Issue: 4865 / Categories: News
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