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 — 4.75% increasing to 5.5%
repayment interest rate — 1.25% increasing to 2.0%
From 17th February, taxpayers who owe money to HMRC will pay 7% interest, down from 7.25%. HMRC say that 1.1 million self-assessment...
The Bank of England has today confirmed that interest rates will be cut to 4.5%, from 4.75%. #FarrellAndFarrell #crossbordertaxadvisors...
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