Articles and information in relation to UK Payroll for business, employers and employees.
HMRC interest rates for late payments will be revised following the Bank of England interest rate cut to 4.00%. The Bank of England Monetary Policy Committee announced on 7th August 2025 to reduce the Bank of England base rate to 4.00% from 4.25%. HMRC interest rates are linked to the Bank of England base rate. As … Continue reading HMRC interest rates update- August 2025
The Bank of England Monetary Policy Committee announced on 8th May 2025 to reduce the Bank of England base rate to 4.25% from 4.50%. The HMRC interest rates are linked to the Bank of England base rate. As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will also reduce. … Continue reading HMRC late payment interest rates revised following the Bank of England rate cut
HMRC interest rates for late payments will increase following the Bank of England interest rate rise to 5.25%. The Bank of England Monetary Policy Committee announced an increase to the Bank of England base rate from 5.00% to 5.25% on 3rd August 2023. The HMRC interest rates are linked to the Bank of England base … Continue reading HMRC late payment interest rates increase
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 5%. The Bank of England Monetary Policy Committee announced on 22nd June 2023 an increase to the Bank of England base rate to 5% from 4.5%. HMRC interest rates are linked to the Bank of England base … Continue reading HMRC late payment interest charge rises