New rates of interest

Quarterly instalment payments and early payments of corporation tax not due by instalments

New rates of interest covering quarterly instalment payments and early payments of corporation tax not due by instalments in respect of accounting periods ending on or after 1 July 1999, have been announced. These new rates of interest take effect from 17 November 2008.

The rate of interest charged on underpaid instalment payments of corporation tax changes from 5.5% to 4%.

The rate of interest on overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 4.25% to 2.75%.

16 November 2008