Your Number One Trusted Business Adviser

Telephone: 01305 760600

Email: info@advocouk.com

"Grossly unfair" HMRC lifts late payment interest rate

HMRC has raised the rate it charges people and businesses for late tax payments by 0.35 percentage points to 3.25%. The move follows the Bank of England’s latest quarter-point rate rise to 0.75%. The repayment interest rate - the rate HMRC levies on top of sums it owes to taxpayers - has remained at 0.5% since 2009. Tom Selby, a senior analyst at investment platform AJ Bell, said: “It seems grossly unfair for HMRC to increase the late payment rate for those who owe it money without doing the same thing when it owes other people money”.

Source:   The Times (23/08/2018)

 


Comments
(Please login/register to leave a comment)

Quick contact form.

Cookies make it easier for us to provide you with our services. With the usage of our services you permit us to use cookies.