Tax & Accounting News

New HMRC interest rates

21/12/2007

HMRC has announced new rates of interest on quarterly instalment payments and on early payments of corporation tax not due by instalments. This applies to tax paid for accounting periods ending on or after 1 July 1999.

• The rate of interest charged on underpaid instalment payments of corporation tax changes from 6.75 per cent to 6.5 per cent.

• The rate of interest on overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 5.5 per cent to 5.25 per cent.

The new rates of interest take effect from Monday 17 December 2007.

 

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