Changes to VAT penalties and interest from 01 January 2023

ByBanner & Associates

HMRC raises late payment interest from 11 October HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest…

Budget 2021

ByRon Banerjee

HMRC raises late payment interest from 11 October HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest…

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Update on Government schemes in response to COVID-19

ByRon Banerjee

HMRC raises late payment interest from 11 October HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest…

Autumn Budget 2017

ByRon Banerjee

HMRC raises late payment interest from 11 October HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest…