Highlights from the broader tax news for the week ending 23 February 2022, including: HMRC release guidance on interest rates for late payments.
Guidance: interest rates for late payments
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 — 3.0% from 21 February 2022
- repayment interest rate — 0.5% from 29 September 2009
HMRC interest rates are shown in the tables here.
ICAEW Know-How from the Tax Faculty
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