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  • Farrell & Farrell
    • Nov 8, 2022
    • 1 min read

UK – HMRC late payment interest rates to increase

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: -

  1. late payment interest rate — 4.75% increasing to 5.5%

  2. repayment interest rate — 1.25% increasing to 2.0%




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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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