HMRC updates interest rates following Bank of England decision

Published on: 16 May 2023

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Specialist Tax Regulatory Materials

Article summary

HMRC is increasing the late payment rate of interest to 7%, and the repayment interest rate to 3.5% from 31 May 2023. Interest on quarterly instalment payments of corporation tax is also increased from 22 May 2023.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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