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Reminder: changes to interest rates on late payments

18th August 2016

The late payment and repayment interest rates charged for the main taxes and duties will change on 23 August 2016.

The changes are:

  • the late payment rate of 3.0% will be cut to 2.75% 
  • the repayment rate will remain at 0.5%.

The change to the interest rates HMRC charges will apply to the following tax duties:

  • income tax
  • corporation tax
  • capital gains tax
  • stamp duty land tax
  • inheritance tax
  • self-assessment.

Rates will often vary so it is important to visit the HMRC website to check out the current rates payable.

Talk to a member of our team today about tax.