UK: HMRC late payment interest cut by 0.25%

Further to the Bank of England cutting the base rate to 5% on 1 August, this has triggered a cut in HMRC interest rates.

From 20th August, the late payment interest rate will be cut to 7.5% from 7.75%.

The repayment interest rate will reduce to 4% from 4.25% from 20th August.

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