Bank of England cuts Bank Rate to 0.25%

05 August 2016

HMRC interest rates are linked to the Bank of England base rate so in line with the recent rate change, HMRC interest rates for late payment will be reduced.

The Bank of England Monetary Policy Committee voted unanimously on 4 August to cut the Bank of England base rate to 0.25%.

HMRC interest rates for late payments will be revised following Bank of England interest rate cut.

These changes will come into effect on 15 August 2016 for quarterly instalment payments and 23 August 2016 for non-quarterly instalment payments.

Repayment interest rates remain unchanged.

Information on the interest rates for late payments will be updated shortly.