HMRC late payment interest rates to be revised after Bank of England increases base rate
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25%.
The current late payment and repayment interest rates applied to the main taxes and duties that HMRC currently charges and pays interest on are:
- late payment interest rate — 2.75% from 4 January 2022
- repayment interest rate — 0.5% from 29 September 2009 – no change from 4 January 2022
Read more here.