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Late payment interest rates

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HMRC interest rates for late payments are to increase to 3% for most taxes, following the Bank of England decision to increase base rate from 0.25% to 0.5%.

The increased late-payment interest rates will apply from 14 February for underpaid corporation tax quarterly payments (at a rate of 1.5%), and from 21 February for other outstanding payments.

Issue: 1563
Categories: News