UK - HMRC raises late payment interest from yesterday, 13 April 2023

In response to the Bank of England’s recent 0.25% increase in the BOE base rate, i.e. to 4.25% (on 23 March), HMRC’s late payment interest rates will also increase with effect from 13 April 2023 as follows: -

1. late payment interest rate — 6.5% increasing to 6.75%

2. repayment interest rate — 3.0% increasing to 3.25%