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HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
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Interest: Rates of interest

You must check whether, and from which date, the FA 2009 interest rules apply to the tax or duty you are dealing with. See CH140160 for full details.

The Treasury sets the rates for late payment interest and repayment interest and the rates appear in Regulations.

SI2010/1879 came into force on 31 August 2010 and set the current rates for late payment interest and repayment interest.

Interest rates for late payment interest and repayment interest are based on the Bank of England official rate and are published on the internet.

FA09/S103