HMRC interest rates for late payments will be revised following Bank of England interest rate cut.
The Bank of England Monetary Policy Committee voted unanimously on 4 August to cut the Bank of England base rate to 0.25%.
HMRC interest rates are linked to the Bank of England base rate.
As a consequence of the change in the base rate, HMRC interest rates for late payment will be reduced.
These changes will come into effect on:
Repayment interest rates remain unchanged.
Information on the interest rates for late payments will be updated shortly.
5 August 2016
HM Revenue & Customs
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