• Farrell & Farrell

HMRC to raise interest rates on late tax bills

As a result of the increase in the Bank of England base rate to 1% last week, HMRC has now confirmed that it will raise their interest rates on late tax bills by 0.25%. Therefore, this means that the late payment interest rate will increase from 3.25% to 3.5% from 24 May 2022.

4 views0 comments

Recent Posts

See All

In response to the Bank of England interest rate increase to 3.0%, HMRC’s late payment interest rates will also increase with effect from 22 November 2022 as follows: - late payment interest rate — 4.