Changes to VAT penalties and interest from 01 January 2023

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

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New VAT penalty regime and other VAT news

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

1.25% increase to NIC and dividend tax ratesĀ 

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

Budget 2021

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

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Update on Government schemes in response to COVID-19

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

Dividend 2017/18 and 2018/19

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

Autumn Budget 2017

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…

Changes to flat-rate VAT in more detail with examples

HMRC increases late payment interest rate Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12th consecutive rise.The late payment and repayment interest rates follow…