The Bank of England Monetary Policy Committee voted on 16 December 2021 to increase the Bank of England base rate to 0.25% from 0.1%.
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 payments will increase.
These changes will come into effect on:
- 27 December 2021 for quarterly instalment payments
- 4 January 2022 for non-quarterly instalments payments
Repayment interest rates remain unchanged.
Information on the interest rates for the payments will be updated shortly.
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