Following the decision by the Bank of England Monetary Policy Committee to raise base rates from 4% to 4.25%, HMRC will raise interest rates for late payments and repayments.
These changes will come into effect on:
- 3 April 2023 for quarterly instalment payments; and
- 13 April 2023 for non-quarterly instalments payments
Information on the interest rates for payments will be updated shortly.
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Income Tax is a substantial single-volume guide, now in digital format, to all the income tax issues commonly faced by most accountants and tax practitioners.
