HMRC interest rates for late payments will be revised following Bank of England interest rate rise
The Bank of England Monetary Policy Committee voted 7-2 on 2 November 2017 to increase the Bank of England base rate to 0.5%.
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 will be increased.
These changes will come into effect on:
- 13 November 2017 for quarterly instalment payments
- 21 November 2017 for non-quarterly instalment payments
Repayment interest rates remain unchanged.
Information on the interest rates for late payments will shortly be updated here.
