HMRC are increasing their late payment interest rate from 2.75% to 3%, but are not increasing their repayment rates!
HMRC late payment and repayment interest rates
The current late payment and repayment interest rates applied to the main taxes and duties that HMRC currently charges and pays interest on are:
- late payment interest rate — 3.0% from 21 February 2022
- repayment interest rate — 0.5% from 29 September 2009
HMRC interest rates are shown in the tables below.
Income Tax, National Insurance contributions, Capital Gain Tax, Stamp Duty Land Tax, Stamp Duty and Stamp Duty Reserve Tax (from 1 October 1999)
| From | Late payment % | Repayment % |
|---|---|---|
| 21 February 2022 | 3.00 | 0.50 |
| 4 January 2022 | 2.75 | 0.50 |
Tax does have to be taxing.
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HMRC grabbing more money from the poor !!!
ReplyDeleteNo morals because whilst they take take take from every day people, they allow mass fraud , customer service fails and the lazy civil 'servant' HMRC workers are 'working' from home still.
The more you give them the more they waste .
Where do you think that the money to cover covid and Brexit is coming from?
DeleteIf the rich paid their fair whack rather than investing in tax avoidance schemes then the poor wouldn't have to pay as much.
HMRC staff are neither more nor less lazy than anyone else, public or private sectors.
Working from home is here to stay, public and private sector, like it or not. And there's no need to put working in inverted commas, online working can be monitored in real time just as effectively as if staff were in the office.
"the poor wouldn't have to pay as much" That's the fairly tale the far left Liebour party and unions always spin.
DeleteTax on the poor will never be low while communists have a say. They know how to spend/waste your money better than you do !
Yup - Johnson, Sunak, Raab, Patel, Truss, Kwateng, Rees-Mogg. All card-carrying members of the Communist Party.
DeleteThe utter delusion of the far-right never ceases to amaze.