HMRC’s late payment interest rate rises to 2.75%
06 January 2022
- HMRC announced that its late payment interest rates increased from 4 January 2022.
- The late payment interest rate is now 2.75%, an increase of 0.15% from the previous rate of 2.60%.
- The increase falls in line with the base rate increase announced by the Bank of England last month.
Aspire Comment:
It is essential that business fulfil their obligations to HMRC and ensure that all payments are made in line with deadlines set by HMRC. That said, whilst it is important for businesses to make payments and returns on time to avoid accruing points or penalties and interest, it is also important for businesses to understand the appeal options available to them. Aspire can assist you in challenging those penalties via the appeals and review process.
Get in touch with one of our advisors today on 0121 445 6178 or email us at enquire@aspirepartnership.co.uk to discuss how we can support your business.