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  • Farrell & Farrell
    • Sep 26, 2022
    • 1 min read

UK – HMRC late payment interest rates to increase

In response to the Bank of England interest rate increase to 2.25%, HMRC’s late payment interest rates will also increase with effect from 11 October 2022 as follows: -

  • late payment interest rate — 4.25% increasing to 4.75%

  • repayment interest rate — 0.75% increasing to 1.25%


#interestrates #hmrc #bankofengland

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Just a reminder that any 2021/22 self assessment tax liabilities that are still outstanding should be paid to HMRC by this Thursday, 2 March to avoid late payment penalties equal to 5% of the outstand

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