New Forest

16/11/2022

HMRC late payment interest rates revised

The Bank of England Monetary Policy Committee voted on 3 November 2022 to increase the Bank of England base rate to 3% from 2.25%.

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 and repayment will increase.

These changes come into effect:

  • 14 November 2022 for quarterly instalment payments.
  • 22 November 2022 for non-quarterly instalments payments.

See: HMRC late payment interest rates to be revised after Bank of England increases base rate – GOV.UK (www.gov.uk)

For more information on this, please contact Michaela Johns on 023 8046 1256.

Latest Tweets

The Economic Crime Levy is a new tax aimed at tackling financial crime and will apply to a range of sectors.

read more here 👉 https://bit.ly/3n819K0

#localbusiness #southampton #motivation

Purchasing managers’ index (PMI) data for February indicate encouraging resilience of the economy in the face of headwinds which include rising interest rates, the ongoing cost of living crisis, labour shortages and strikes.

read more here 👉 https://bit.ly/3Fw9NbK

#2023

Let’s Talk

Why not arrange a FREE consultation and find out what we can do for your business.