HMRC has increased the interest rates payable by taxpayers on late payments to 7.75 percent, up from 7.5 percent.
This figure represents the highest interest charge on late payments since approximately 2007.
The increase will be effective from 22 August 2023.
Late payment interest will apply to a wide range of taxes, including Income Tax, National Insurance, Capital Gains Tax, Corporation Tax and Stamp Duty.
Also going up on 22 August is the repaymen...
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