Lentells Limited

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Wednesday, 09 November 2022 15:19

HMRC to raise late payment interest from 22 November

HMRC will raise interest rates on tax debt from 22 November, following the Bank of England's 0.75% increase in the base rate to 3%. 

The current late payment and repayment interest rates will be as follows from 22 November;

  • Late payment interest rate - 5.5%
  • Repayment interest rate - 2%

The late payment interest rate will increase by 0.75%, from 4.75% to 5.5%~. The rate was last increased in October and the new rate means it is now the highest rate since January 2009. 

The repayment interest rate will also increase by 0.75%, from 1.25% to 2%.

Last modified on Wednesday, 09 November 2022 16:21

        

 
 

Chard Office

17-18 Leach Road 
Chard Business Park 
Chard
Somerset 
TA20 1FA

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01460 64441

Seaton Office

Kingsway
50 Fore Street
Seaton
Devon
EX12 2AD

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01297 20584

Taunton Office

Ash House, Cook Way
Bindon Road
Taunton
Somerset
TA2 6BJ

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01823 286274