HMRC revise late payment interest charges

Released 20 March 2020

HMRC interest rates for late payments are being revised following the Bank of England interest rate reduction to 0.1%.

These changes take effect from:

30 March 2020 for quarterly instalment payments; and

7 April 2020 for non-quarterly instalments payments.

Repayment interest rates remain unchanged.

Confirmation of the change can be found at https://www.gov.uk/government/news/hmrc-late-payment-interest-rates-to-be-revised-after-bank-of-england-cuts-base-rate-following-second-emergency-meeting.

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