Reminder: changes to interest rates on late payments

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.

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