HMRC late payment interest rates to be revised

HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.75%.

The Bank of England Monetary Policy Committee voted unanimously to increase the Bank of England base rate to 0.75% on 2 August 2018.

HMRC interest rates are linked to the Bank of England base rate and, as a consequence of the change, HMRC interest rates for late payment will be increased.

These changes will come into effect on:

  • 13 August 2018 for quarterly instalment payments.
  • 21 August 2018 for non-quarterly instalment payments.

Repayment interest rates remain unchanged.

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